Veris Residential, Inc. $VRE Shares Purchased by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in Veris Residential, Inc. by 17.1%, acquiring an additional 167,145 shares during the first quarter.
• Analyst ratings for Veris Residential have varied, with two analysts issuing a "Buy" rating and three giving a "Hold" rating, leading to a consensus rating of "Hold" with an average target price of $19.20.
• Veris Residential reported earnings of $0.17 per share for the last quarter, surpassing estimates, while also announcing a quarterly dividend of $0.08 per share.

Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,142,407 shares of the company's stock after purchasing an additional 167,145 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 1.22% of Veris Residential worth $19,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Veris Residential during the 4th quarter worth about $25,000. Sterling Capital Management LLC raised its position in Veris Residential by 824.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock valued at $42,000 after acquiring an additional 2,243 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Veris Residential during the fourth quarter valued at approximately $45,000. State of Wyoming acquired a new position in Veris Residential in the fourth quarter valued at approximately $52,000. Finally, Lazard Asset Management LLC purchased a new stake in Veris Residential in the 4th quarter worth approximately $117,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Price Performance

Shares of NYSE:VRE traded down $0.1250 during midday trading on Monday, hitting $15.1150. The company's stock had a trading volume of 705,028 shares, compared to its average volume of 502,579. The company has a market cap of $1.41 billion, a P/E ratio of -65.72, a price-to-earnings-growth ratio of 2.61 and a beta of 1.24. Veris Residential, Inc. has a 12-month low of $13.69 and a 12-month high of $18.85. The business's 50 day simple moving average is $14.53 and its 200 day simple moving average is $15.33. 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 (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.17 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 company had revenue of $75.93 million during 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, analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on VRE shares. Evercore ISI boosted their target price on shares of Veris Residential from $17.50 to $18.00 and gave the company an "in-line" rating in a research note on Friday, July 25th. Truist Financial lowered their target price on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. BTIG Research cut their price target on 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, Wall Street Zen upgraded Veris Residential from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average 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.