Veris Residential, Inc. $VRE Stock Position Lifted by Anson Funds Management LP

Key Points

• Anson Funds Management LP significantly increased its stake in Veris Residential, acquiring an additional 204,956 shares, totaling a 927.5% increase in the first quarter.
• Veris Residential announced a quarterly dividend of $0.08 per share, which will be paid on October 10th, with a current annualized yield of 2.0%.
• Veris Residential recently reported earnings of $0.17 per share for the recent quarter, exceeding analysts' expectations of $0.14, alongside a revenue of $75.93 million.

Anson Funds Management LP grew its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 927.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,053 shares of the company's stock after acquiring an additional 204,956 shares during the quarter. Anson Funds Management LP owned about 0.24% of Veris Residential worth $3,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Veris Residential by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company's stock valued at $742,000 after acquiring an additional 1,465 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Veris Residential in the fourth quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Veris Residential in the fourth quarter valued at $45,000. Y Intercept Hong Kong Ltd lifted its position in shares of Veris Residential by 10.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 31,196 shares of the company's stock valued at $528,000 after acquiring an additional 2,887 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Veris Residential by 13.8% in the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock valued at $419,000 after acquiring an additional 3,000 shares in the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Veris Residential Stock Down 0.6%

NYSE VRE traded down $0.09 during mid-day trading on Tuesday, reaching $15.31. 721,036 shares of the company's stock traded hands, compared to its average volume of 512,679. Veris Residential, Inc. has a 1-year low of $13.69 and a 1-year high of $18.85. The company has a fifty day simple moving average of $14.80 and a 200-day simple moving average of $15.31. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.47. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -66.54, a P/E/G ratio of 2.72 and a beta of 1.34.

Veris Residential (NYSE:VRE - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Veris Residential had a negative return on equity of 1.89% and a negative net margin of 7.84%.The company had revenue of $75.93 million for the quarter, compared to the consensus estimate of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. As a group, equities research analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Veris Residential's dividend payout ratio (DPR) is currently -139.13%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on VRE shares. Evercore ISI increased their target price 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. Wall Street Zen upgraded Veris Residential from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, BTIG Research reduced their target price 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 three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.20.

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.