Anson Funds Management LP Grows Stock Position in Veris Residential, Inc. $VRE

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 raised its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 927.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 227,053 shares of the company's stock after buying an additional 204,956 shares during the period. Anson Funds Management LP owned about 0.24% of Veris Residential worth $3,842,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of VRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Veris Residential by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company's stock worth $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 during the 4th quarter worth about $25,000. Point72 Hong Kong Ltd purchased a new stake in shares of Veris Residential during the 4th quarter worth about $45,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Veris Residential by 10.2% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 31,196 shares of the company's stock worth $528,000 after acquiring an additional 2,887 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Veris Residential by 13.8% during the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock valued at $419,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Trading Down 1.1%

VRE opened at $15.97 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.61 and a quick ratio of 0.61. The company's 50 day simple moving average is $14.73 and its two-hundred day simple moving average is $15.33. Veris Residential, Inc. has a 1-year low of $13.69 and a 1-year high of $18.85. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -69.41, a price-to-earnings-growth ratio of 2.76 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.89%. The business had revenue of $75.93 million for the quarter, compared to analyst estimates of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. Analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 30th. Veris Residential's payout ratio is presently -139.13%.

Analyst Ratings Changes

Several equities analysts have issued reports on VRE shares. Wall Street Zen raised shares of Veris Residential from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. BTIG Research cut their target price on shares of Veris Residential from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Evercore ISI boosted their target price on shares of Veris Residential from $17.50 to $18.00 and gave the stock an "in-line" rating in a research note on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.20.

Veris Residential Company 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.

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