Caxton Associates LLP purchased a new stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 25,124 shares of the company's stock, valued at approximately $425,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 valued at $742,000 after acquiring an additional 1,465 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Veris Residential during the 4th quarter valued at approximately $25,000. Point72 Hong Kong Ltd acquired a new stake in shares of Veris Residential during the 4th quarter valued at approximately $45,000. Y Intercept Hong Kong Ltd lifted its position 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 valued at $528,000 after acquiring an additional 2,887 shares during the period. Finally, New York State Common Retirement Fund lifted its position in shares of Veris Residential by 13.8% during the 1st 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 during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
VRE has been the subject of a number of recent research reports. BTIG Research dropped their price objective 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. Evercore ISI raised their price objective 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. Finally, Wall Street Zen raised shares of Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Veris Residential presently has an average rating of "Hold" and a consensus price target of $19.20.
Read Our Latest Research Report on Veris Residential
Veris Residential Stock Down 1.5%
VRE stock opened at $15.90 on Friday. The stock has a market capitalization of $1.48 billion, a P/E ratio of -69.11, a PEG ratio of 2.76 and a beta of 1.34. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.61 and a current ratio of 0.61. Veris Residential, Inc. has a one year low of $13.69 and a one year high of $18.85. The company has a 50 day moving average price of $14.79 and a two-hundred day moving average price of $15.33.
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 the consensus estimate of $0.14 by $0.03. The firm had revenue of $75.93 million during the quarter, compared to analysts' expectations of $69.06 million. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.89%. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. As a group, sell-side 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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Veris Residential's payout ratio is presently -139.13%.
About Veris Residential
(
Free Report)
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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