Veris Residential, Inc. $VRE Stake Boosted by Anson Funds Management LP

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 stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 1,027.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 249,150 shares of the company's stock after buying an additional 227,053 shares during the quarter. Anson Funds Management LP owned approximately 0.27% of Veris Residential worth $4,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC grew its position in Veris Residential by 17.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,142,407 shares of the company's stock worth $19,330,000 after acquiring an additional 167,145 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of Veris Residential during the first quarter worth approximately $5,714,000. Hsbc Holdings PLC boosted its stake in shares of Veris Residential by 12.0% in the first quarter. Hsbc Holdings PLC now owns 79,773 shares of the company's stock valued at $1,349,000 after buying an additional 8,572 shares during the period. Northern Trust Corp lifted its stake in Veris Residential by 0.9% in the 1st quarter. Northern Trust Corp now owns 1,538,788 shares of the company's stock valued at $26,036,000 after purchasing an additional 13,820 shares during the last quarter. Finally, Fox Run Management L.L.C. grew its holdings in Veris Residential by 14.2% during the 1st quarter. Fox Run Management L.L.C. now owns 41,591 shares of the company's stock worth $704,000 after acquiring an additional 5,177 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on VRE shares. BTIG Research dropped their target price on Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Evercore ISI increased their price target 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. Wall Street Zen upgraded shares of Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Truist Financial reduced their price objective on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.20.

Veris Residential Price Performance

VRE stock traded up $0.10 during mid-day trading on Friday, reaching $15.59. 126,046 shares of the company's stock were exchanged, compared to its average volume of 495,708. Veris Residential, Inc. has a 12-month low of $13.69 and a 12-month high of $18.85. The stock's 50 day moving average is $14.55 and its 200 day moving average is $15.33. 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 has a market cap of $1.46 billion, a price-to-earnings ratio of -67.80, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. On average, research analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

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

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.