Caxton Associates LLP Invests $425,000 in Veris Residential, Inc. $VRE

Key Points

• Caxton Associates LLP has acquired a new stake in Veris Residential, purchasing 25,124 shares valued at approximately $425,000.
• Recent research reports have resulted in differing ratings for Veris Residential, with a consensus price target of $19.20 from analysts.
• Veris Residential announced a quarterly dividend of $0.08, representing a 2.0% yield, to be paid on October 10th.

Caxton Associates LLP bought a new stake in Veris Residential, Inc. (NYSE:VRE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,124 shares of the company's stock, valued at approximately $425,000.

Other institutional investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in shares of Veris Residential in the 4th quarter valued at approximately $25,000. Point72 Hong Kong Ltd acquired a new position in shares of Veris Residential in the 4th quarter worth approximately $45,000. State of Wyoming acquired a new position in shares of Veris Residential in the 4th quarter worth approximately $52,000. Lazard Asset Management LLC acquired a new position in shares of Veris Residential in the 4th quarter worth approximately $117,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in shares of Veris Residential in the 4th quarter worth approximately $175,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Stock Performance

VRE stock traded up $0.29 during mid-day trading on Thursday, reaching $15.65. The company had a trading volume of 917,759 shares, compared to its average volume of 761,199. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $1.46 billion, a P/E ratio of -68.04, a P/E/G ratio of 2.63 and a beta of 1.34. Veris Residential, Inc. has a one year low of $13.69 and a one year high of $18.85. The stock's 50-day simple moving average is $14.85 and its two-hundred day simple moving average is $15.30.

Veris Residential (NYSE:VRE - Get Free Report) last posted its 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. The company had revenue of $75.93 million for the quarter, compared to analysts' expectations 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. Research analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 30th. Veris Residential's dividend payout ratio (DPR) is presently -139.13%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Evercore ISI lifted 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. BTIG Research decreased their target price on Veris Residential from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Veris Residential from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $19.20.

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.