Vanguard Group Inc. Has $212.38 Million Stake in Veris Residential, Inc. $VRE

Vanguard Group Inc. decreased its position in shares of Veris Residential, Inc. (NYSE:VRE) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,552,024 shares of the company’s stock after selling 145,317 shares during the period. Vanguard Group Inc. owned about 13.45% of Veris Residential worth $212,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new stake in shares of Veris Residential in the first quarter valued at approximately $810,000. Raymond James Financial Inc. acquired a new stake in shares of Veris Residential in the fourth quarter valued at approximately $1,737,000. New York State Common Retirement Fund increased its holdings in shares of Veris Residential by 13.8% in the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company’s stock valued at $419,000 after purchasing an additional 3,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Veris Residential by 1,629.2% in the first quarter. GAMMA Investing LLC now owns 22,808 shares of the company’s stock valued at $386,000 after purchasing an additional 21,489 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of Veris Residential in the fourth quarter valued at approximately $851,000. Institutional investors and hedge funds own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VRE. Truist Financial lowered their price target on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, May 5th. Evercore ISI raised their price target on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th. BTIG Research lowered their price target on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Veris Residential from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.20.

Veris Residential Stock Performance

VRE stock opened at $14.3850 on Wednesday. The business’s fifty day moving average is $14.55 and its 200-day moving average is $15.37. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.47. The company has a market cap of $1.34 billion, a P/E ratio of -62.54, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. Veris Residential, Inc. has a twelve month low of $13.69 and a twelve month high of $18.85.

Veris Residential (NYSE:VRE) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $75.93 million for the quarter, compared to the consensus estimate of $69.06 million. Veris Residential had a negative return on equity of 1.89% and a negative net margin of 7.84%. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. Equities research analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 30th. Veris Residential’s dividend payout ratio (DPR) is currently -139.13%.

About Veris Residential

Veris Residential, Inc is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today’s residents while seeking to positively impact the communities it serves and the planet at large.