Y Intercept Hong Kong Ltd Increases Stock Holdings in Veris Residential, Inc. $VRE

Y Intercept Hong Kong Ltd raised its position in shares of Veris Residential, Inc. (NYSE:VRE) by 107.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,631 shares of the company’s stock after buying an additional 33,435 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.07% of Veris Residential worth $962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in VRE. Teacher Retirement System of Texas purchased a new position in Veris Residential during the first quarter valued at $207,000. Principal Financial Group Inc. raised its position in shares of Veris Residential by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 402,124 shares of the company’s stock worth $6,804,000 after purchasing an additional 10,293 shares during the last quarter. Cerity Partners LLC raised its position in shares of Veris Residential by 110.4% in the 1st quarter. Cerity Partners LLC now owns 21,403 shares of the company’s stock worth $362,000 after purchasing an additional 11,231 shares during the last quarter. New York State Common Retirement Fund raised 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 purchasing an additional 3,000 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Veris Residential in the 1st quarter worth about $916,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BTIG Research lowered their price target on Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. 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 target on 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 Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Veris Residential currently has a consensus rating of “Hold” and a consensus target price of $19.20.

Veris Residential Trading Up 2.2%

Veris Residential stock opened at $14.68 on Wednesday. The business has a 50-day simple moving average of $15.13 and a two-hundred day simple moving average of $14.99. The company has a market cap of $1.37 billion, a P/E ratio of 21.91, a P/E/G ratio of 2.27 and a beta of 1.35. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.85.

Veris Residential (NYSE:VRE) last announced its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. Analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

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