Cbre Investment Management Listed Real Assets LLC Purchases 167,145 Shares of Veris Residential, Inc. $VRE

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 stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,142,407 shares of the company's stock after acquiring an additional 167,145 shares during the quarter. 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).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Exchange Traded Concepts LLC bought a new stake in shares of Veris Residential in the 1st quarter worth approximately $810,000. Raymond James Financial Inc. bought a new stake in shares of Veris Residential in the 4th quarter worth approximately $1,737,000. New York State Common Retirement Fund grew its position in shares of Veris Residential by 13.8% in the 1st quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock worth $419,000 after buying an additional 3,000 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Veris Residential by 1,629.2% in the 1st quarter. GAMMA Investing LLC now owns 22,808 shares of the company's stock worth $386,000 after buying an additional 21,489 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of Veris Residential in the 4th quarter worth approximately $851,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Down 0.5%

Shares of VRE stock traded down $0.08 during mid-day trading on Thursday, hitting $15.27. The company's stock had a trading volume of 139,786 shares, compared to its average volume of 495,950. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.85. The business has a 50-day moving average price of $14.54 and a 200 day moving average price of $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. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -66.37, a PEG ratio of 2.58 and a beta of 1.24.

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

Veris Residential Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VRE. Evercore ISI lifted their price objective 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. Truist Financial dropped 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. BTIG Research dropped 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. 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 assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.20.

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.