Veris Residential, Inc. $VRE Holdings Raised by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 27.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,177 shares of the company's stock after buying an additional 54,857 shares during the quarter. Public Sector Pension Investment Board owned about 0.27% of Veris Residential worth $4,335,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Veris Residential in the 4th quarter valued at approximately $25,000. Sterling Capital Management LLC increased its position in Veris Residential by 824.6% in the 4th 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 during the period. Point72 Hong Kong Ltd acquired a new stake in Veris Residential in the 4th quarter valued at approximately $45,000. State of Wyoming acquired a new stake in Veris Residential in the 4th quarter valued at approximately $52,000. Finally, Lazard Asset Management LLC acquired a new stake in Veris Residential in the 4th quarter valued at approximately $117,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Evercore ISI raised their target price on Veris Residential from $17.50 to $18.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. BTIG Research lowered their target price 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. Truist Financial decreased their price target on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Finally, Wall Street Zen raised Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.20.

Veris Residential Price Performance

Shares of VRE traded up $0.63 during trading hours on Friday, hitting $15.05. 288,467 shares of the company were exchanged, compared to its average volume of 482,350. The company has a market capitalization of $1.41 billion, a PE ratio of -65.39, a PEG ratio of 2.47 and a beta of 1.24. 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 firm has a fifty day simple moving average of $14.52 and a 200-day simple moving average of $15.35. Veris Residential, Inc. has a one year low of $13.69 and a one year high of $18.85.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The business had revenue of $75.93 million during the quarter, compared to analyst estimates 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. As a group, sell-side analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.1%. The ex-dividend date was Monday, June 30th. Veris Residential's payout ratio is presently -139.13%.

Veris Residential 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.