Asset Management One Co. Ltd. Reduces Stock Position in Veris Residential, Inc. $VRE

Asset Management One Co. Ltd. reduced its position in shares of Veris Residential, Inc. (NYSE:VRE) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,758 shares of the company’s stock after selling 2,414 shares during the period. Asset Management One Co. Ltd. owned 0.12% of Veris Residential worth $1,709,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Veris Residential by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock worth $790,000 after purchasing an additional 2,064 shares during the period. Public Employees Retirement System of Ohio boosted 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. Aberdeen Group plc boosted its holdings in shares of Veris Residential by 13.0% during the second quarter. Aberdeen Group plc now owns 23,972 shares of the company’s stock worth $357,000 after purchasing an additional 2,763 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in shares of Veris Residential by 10.2% during the first quarter. Y Intercept Hong Kong Ltd now owns 31,196 shares of the company’s stock worth $528,000 after purchasing an additional 2,887 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Veris Residential by 13.8% during the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company’s stock worth $419,000 after purchasing an additional 3,000 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Veris Residential Stock Performance

Veris Residential stock opened at $14.28 on Thursday. The stock’s 50 day simple moving average is $15.17 and its two-hundred day simple moving average is $15.02. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.34 and a beta of 1.35. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $18.85.

Veris Residential (NYSE:VRE) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.The firm had revenue of $73.44 million for the quarter, compared to analysts’ expectations of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. As a group, analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Veris Residential’s payout ratio is currently 47.76%.

Analyst Ratings Changes

VRE has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a report on Wednesday, October 8th. Wall Street Zen raised Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Evercore ISI lifted their price objective on Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a research report on Friday, July 25th. Finally, BTIG Research cut their price objective 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 investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.20.

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.