Anson Funds Management LP Has $4.21 Million Position in Veris Residential, Inc. $VRE

Key Points

• Anson Funds Management LP increased its stake in Veris Residential by 1,027.5% in the first quarter, owning approximately 249,150 shares valued at $4.21 million.
• Analysts have issued varying price targets for Veris Residential, with BTIG Research lowering its target from $26.00 to $22.00, while two analysts maintain a "Buy" rating and three have a "Hold" rating.
• Veris Residential recently reported an earnings per share (EPS) of $0.17 for the last quarter, exceeding the consensus estimate of $0.14, and has also announced a quarterly dividend of $0.08 per share.

Anson Funds Management LP boosted its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 1,027.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 249,150 shares of the company's stock after purchasing an additional 227,053 shares during the quarter. Anson Funds Management LP owned about 0.27% of Veris Residential worth $4,209,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of Veris Residential by 6.4% in the fourth quarter. Wells Fargo & Company MN now owns 47,291 shares of the company's stock valued at $786,000 after acquiring an additional 2,860 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Veris Residential during the 4th quarter worth approximately $1,737,000. Jump Financial LLC acquired a new position in shares of Veris Residential during the 4th quarter worth approximately $205,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Veris Residential by 8.4% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 174,951 shares of the company's stock worth $2,908,000 after purchasing an additional 13,510 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Veris Residential by 5.4% in the fourth quarter. MetLife Investment Management LLC now owns 49,810 shares of the company's stock valued at $828,000 after buying an additional 2,537 shares in the last quarter. Institutional investors own 93.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VRE. BTIG Research reduced their price target 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. Evercore ISI upped their target price on Veris Residential from $17.50 to $18.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. Truist Financial decreased their price target on Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Finally, Wall Street Zen raised Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Veris Residential presently has an average rating of "Hold" and an average target price of $19.20.

Veris Residential Price Performance

Shares of VRE stock opened at $15.2310 on Friday. The business has a fifty day simple moving average of $14.53 and a 200 day simple moving average of $15.34. The company has a market cap of $1.42 billion, a P/E ratio of -66.22, a P/E/G ratio of 2.61 and a beta of 1.24. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.47. Veris Residential, Inc. has a twelve month low of $13.69 and a twelve month high of $18.85.

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

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, June 30th. Veris Residential's payout ratio is presently -139.13%.

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.

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