Veris Residential, Inc. $VRE Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in Veris Residential, Inc. (NYSE:VRE) by 11.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,422 shares of the company’s stock after selling 1,341 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Veris Residential were worth $155,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in VRE. Cbre Investment Management Listed Real Assets LLC boosted its position in Veris Residential by 17.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,142,407 shares of the company’s stock worth $19,330,000 after purchasing an additional 167,145 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Veris Residential by 13.8% in 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 in the last quarter. Cerity Partners LLC lifted its holdings in shares of Veris Residential by 110.4% in the first quarter. Cerity Partners LLC now owns 21,403 shares of the company’s stock valued at $362,000 after purchasing an additional 11,231 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Veris Residential by 0.9% in the first quarter. Northern Trust Corp now owns 1,538,788 shares of the company’s stock valued at $26,036,000 after purchasing an additional 13,820 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Veris Residential in the first quarter valued at about $511,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. BTIG Research reduced 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. Evercore ISI upped their target price on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Veris Residential in a report on Thursday. 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.com, the company presently has an average rating of “Hold” and a consensus price target of $19.20.

Veris Residential Trading Up 1.3%

NYSE VRE opened at $14.49 on Friday. The company’s 50 day moving average price is $15.17 and its 200 day moving average price is $15.01. Veris Residential, Inc. has a one year low of $13.69 and a one year high of $18.85. 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 firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.27 and a beta of 1.35.

Veris Residential (NYSE:VRE) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.The company had revenue of $73.44 million for the quarter, compared to analyst estimates of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, sell-side analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

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

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.