Veris Residential, Inc. $VRE Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its position in shares of Veris Residential, Inc. (NYSE:VRE) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,661 shares of the company’s stock after buying an additional 2,079 shares during the period. Public Employees Retirement System of Ohio owned about 0.13% of Veris Residential worth $1,737,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in VRE. California State Teachers Retirement System lifted its holdings in shares of Veris Residential by 10.3% in the 4th quarter. California State Teachers Retirement System now owns 77,804 shares of the company’s stock worth $1,294,000 after purchasing an additional 7,276 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Veris Residential by 1,629.2% in the 1st quarter. GAMMA Investing LLC now owns 22,808 shares of the company’s stock worth $386,000 after purchasing an additional 21,489 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Veris Residential in the 1st quarter worth approximately $213,000. Handelsbanken Fonder AB raised its stake in Veris Residential by 11.9% during the 1st quarter. Handelsbanken Fonder AB now owns 31,857 shares of the company’s stock valued at $539,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Veris Residential during the 1st quarter valued at $810,000. Institutional investors own 93.04% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on VRE shares. Evercore ISI lifted their target price on Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a research note on Friday, July 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a research report on Saturday, September 27th. Wall Street Zen upgraded Veris Residential from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, BTIG Research lowered their price target on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.20.

Veris Residential Price Performance

VRE opened at $14.92 on Friday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -64.85, a PEG ratio of 2.57 and a beta of 1.35. Veris Residential, Inc. has a 1 year low of $13.69 and a 1 year high of $18.85. 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 fifty day moving average price of $14.99 and a 200 day moving average price of $15.21.

Veris Residential (NYSE:VRE) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $75.93 million during the quarter, compared to analysts’ expectations 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. Analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given 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 dividend yield of 2.1%. Veris Residential’s payout ratio is currently -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.