Veris Residential, Inc. $VRE Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in Veris Residential, Inc. (NYSE:VRE) by 26.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,781 shares of the company’s stock after selling 11,290 shares during the period. Russell Investments Group Ltd.’s holdings in Veris Residential were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of VRE. Nuveen Asset Management LLC boosted its holdings in Veris Residential by 2.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,149,233 shares of the company’s stock valued at $35,742,000 after purchasing an additional 53,564 shares during the period. Nuveen LLC acquired a new stake in Veris Residential in the 1st quarter valued at about $34,817,000. Millennium Management LLC boosted its stake in shares of Veris Residential by 10.5% in the 4th quarter. Millennium Management LLC now owns 2,024,921 shares of the company’s stock valued at $33,674,000 after buying an additional 192,116 shares during the period. Northern Trust Corp grew its position in shares of Veris Residential by 49.1% during the fourth quarter. Northern Trust Corp now owns 1,524,968 shares of the company’s stock worth $25,360,000 after buying an additional 501,867 shares in the last quarter. Finally, Woodline Partners LP grew its position in shares of Veris Residential by 62.1% during the fourth quarter. Woodline Partners LP now owns 922,515 shares of the company’s stock worth $15,341,000 after buying an additional 353,540 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRE. Truist Financial reduced their target price on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Evercore ISI raised their price objective 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. Wall Street Zen raised shares of Veris Residential from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, BTIG Research lowered their target price on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.20.

Veris Residential Stock Up 1.5%

VRE stock opened at $15.73 on Friday. The stock has a market cap of $1.47 billion, a P/E ratio of -68.37, a PEG ratio of 2.69 and a beta of 1.24. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.47. Veris Residential, Inc. has a twelve month low of $13.69 and a twelve month high of $18.85. The company’s 50 day moving average is $14.57 and its two-hundred day moving average is $15.32.

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

Veris Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. Veris Residential’s payout ratio is -139.13%.

Veris Residential Company Profile

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.