Veris Residential, Inc. $VRE Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its position in shares of Veris Residential, Inc. (NYSE:VRE) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,132 shares of the company’s stock after selling 7,995 shares during the period. Allianz Asset Management GmbH’s holdings in Veris Residential were worth $687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Veris Residential by 17.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,142,407 shares of the company’s stock worth $19,330,000 after buying an additional 167,145 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of 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 buying an additional 3,000 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Veris Residential by 110.4% during the 1st quarter. Cerity Partners LLC now owns 21,403 shares of the company’s stock worth $362,000 after buying an additional 11,231 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Veris Residential by 0.9% during the 1st quarter. Northern Trust Corp now owns 1,538,788 shares of the company’s stock worth $26,036,000 after buying an additional 13,820 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Veris Residential during the 1st quarter worth $511,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VRE has been the subject of a number of research analyst reports. BTIG Research dropped their price objective on Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday. Evercore ISI upped their price target 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. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $19.20.

Veris Residential Stock Performance

NYSE:VRE opened at $14.92 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.53 and a quick ratio of 0.53. The firm has a 50-day moving average of $15.17 and a two-hundred day moving average of $15.02. The stock has a market cap of $1.39 billion, a P/E ratio of 22.27, a PEG ratio of 2.44 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.

Veris Residential (NYSE:VRE) last issued its earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $73.44 million for the quarter, compared to analyst estimates of $73.74 million. Veris Residential had a net margin of 22.09% and a return on equity of 4.72%. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, 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 announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, September 30th. Veris Residential’s dividend payout ratio is 47.76%.

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.