Nisa Investment Advisors LLC Has $251,000 Holdings in Veris Residential, Inc. $VRE

Nisa Investment Advisors LLC trimmed its holdings in Veris Residential, Inc. (NYSE:VRE) by 25.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,754 shares of the company’s stock after selling 5,832 shares during the period. Nisa Investment Advisors LLC’s holdings in Veris Residential were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its stake in Veris Residential by 925.9% in the second quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after acquiring an additional 6,333 shares during the period. Magnetar Financial LLC acquired a new position in Veris Residential in the first quarter valued at about $195,000. Natixis Advisors LLC acquired a new position in Veris Residential in the first quarter valued at about $202,000. Teacher Retirement System of Texas acquired a new position in Veris Residential in the first quarter valued at about $207,000. Finally, HighTower Advisors LLC acquired a new position in Veris Residential in the first quarter valued at about $222,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Veris Residential in a research note on Thursday, October 30th. Evercore ISI boosted 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. Wall Street Zen raised Veris Residential from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, BTIG Research decreased their target price on Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Veris Residential has an average rating of “Hold” and an average price target of $19.20.

Veris Residential Price Performance

VRE stock opened at $14.36 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 stock has a market capitalization of $1.34 billion, a P/E ratio of 21.43, a P/E/G ratio of 2.27 and a beta of 1.35. The business has a 50-day moving average of $15.14 and a 200-day moving average of $14.99. 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 posted its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. The company had revenue of $73.44 million during 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, sell-side analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 30th. Veris Residential’s dividend payout ratio is presently 47.76%.

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.