Cwm LLC Boosts Stock Position in Veris Residential, Inc. $VRE

Cwm LLC increased its stake in Veris Residential, Inc. (NYSE:VRE) by 925.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,017 shares of the company’s stock after buying an additional 6,333 shares during the period. Cwm LLC’s holdings in Veris Residential were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new stake in shares of Veris Residential in the 1st quarter worth approximately $195,000. Natixis Advisors LLC purchased a new stake in shares of Veris Residential in the 1st quarter worth approximately $202,000. Teacher Retirement System of Texas purchased a new stake in shares of Veris Residential in the 1st quarter worth approximately $207,000. HighTower Advisors LLC purchased a new stake in shares of Veris Residential in the 1st quarter worth approximately $222,000. Finally, Strs Ohio purchased a new stake in shares of Veris Residential in the 1st quarter worth approximately $250,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on VRE shares. Evercore ISI increased 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. BTIG Research cut their target price on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Veris Residential in a research note on Thursday. Finally, Wall Street Zen upgraded Veris Residential from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.20.

Veris Residential Price Performance

NYSE VRE opened at $14.39 on Friday. The business’s fifty day moving average price is $15.16 and its 200-day moving average price is $15.01. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 21.47, a PEG ratio of 2.27 and a beta of 1.35. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.53 and a quick ratio of 0.53. Veris Residential, Inc. has a 1-year low of $13.69 and a 1-year high of $18.85.

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

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 30th. 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.