Veris Residential, Inc. $VRE Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,550 shares of the company’s stock after purchasing an additional 4,112 shares during the quarter. State of Alaska Department of Revenue owned 0.09% of Veris Residential worth $1,287,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its holdings in shares of Veris Residential by 1.8% during the second quarter. Public Employees Retirement System of Ohio now owns 116,661 shares of the company’s stock worth $1,737,000 after purchasing an additional 2,079 shares during the period. Anson Funds Management LP raised its position in Veris Residential by 927.5% in the first quarter. Anson Funds Management LP now owns 227,053 shares of the company’s stock worth $3,842,000 after acquiring an additional 204,956 shares in the last quarter. Strs Ohio purchased a new position in Veris Residential in the first quarter worth $250,000. Jane Street Group LLC raised its position in Veris Residential by 234.4% in the first quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock worth $1,926,000 after acquiring an additional 79,802 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Veris Residential in the first quarter worth $425,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on VRE. Evercore ISI increased their price objective on Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a research report 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 cut their price objective on Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.20.

Veris Residential Trading Down 0.8%

NYSE:VRE opened at $14.92 on Friday. The company has a market capitalization of $1.39 billion, a PE ratio of -64.85, a price-to-earnings-growth ratio of 2.55 and a beta of 1.35. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.47. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.85. The stock has a fifty day simple moving average of $14.99 and a 200-day simple moving average of $15.20.

Veris Residential (NYSE:VRE) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $75.93 million during 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. On average, equities research analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 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.