14,800 Shares in Veris Residential, Inc. $VRE Acquired by Strs Ohio

Strs Ohio acquired a new stake in Veris Residential, Inc. (NYSE:VRE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 14,800 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Veris Residential by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company’s stock valued at $742,000 after purchasing an additional 1,465 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Veris Residential during the 4th quarter worth $25,000. Y Intercept Hong Kong Ltd lifted its position in Veris Residential by 10.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 31,196 shares of the company’s stock worth $528,000 after acquiring an additional 2,887 shares during the last quarter. New York State Common Retirement Fund lifted its position in Veris Residential by 13.8% during the 1st quarter. New York State Common Retirement Fund now owns 24,786 shares of the company’s stock worth $419,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its position in Veris Residential by 9.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 35,000 shares of the company’s stock worth $588,000 after acquiring an additional 3,104 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a research report on Friday, July 25th. BTIG Research cut their price objective on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised shares of Veris Residential from a “sell” rating to a “hold” rating in a research 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’s stock. Based on data from MarketBeat.com, Veris Residential has an average rating of “Hold” and an average target price of $19.20.

Veris Residential Price Performance

Shares of Veris Residential stock opened at $15.24 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -66.26, a P/E/G ratio of 2.68 and a beta of 1.34. Veris Residential, Inc. has a 1-year low of $13.69 and a 1-year high of $18.85. The firm’s 50-day moving average price is $14.92 and its two-hundred day moving average price is $15.27.

Veris Residential (NYSE:VRE) last announced its earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $75.93 million for the quarter, compared to analyst estimates of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. On average, equities analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. Veris Residential’s dividend payout ratio (DPR) is presently -139.13%.

Veris Residential 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.