Veris Residential, Inc. $VRE Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its holdings in Veris Residential by 19.4%, totaling 278,334 shares valued at approximately $4.7 million as of the latest SEC filing.
• Veris Residential reported earnings of $0.17 per share, exceeding estimates, and set its FY 2025 guidance between $0.630 and $0.640 EPS.
• The company announced a quarterly dividend of $0.08 per share, with a dividend yield of 2.0%, and a payout ratio currently at -139.13%.

Cubist Systematic Strategies LLC grew its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 19.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,334 shares of the company's stock after buying an additional 45,277 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.30% of Veris Residential worth $4,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in Veris Residential in the fourth quarter valued at $25,000. Point72 Hong Kong Ltd purchased a new position in shares of Veris Residential in the 4th quarter valued at about $45,000. State of Wyoming acquired a new stake in shares of Veris Residential in the fourth quarter valued at about $52,000. Lazard Asset Management LLC purchased a new stake in Veris Residential during the fourth quarter worth about $117,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in Veris Residential during the fourth quarter worth about $175,000. Institutional investors and hedge funds own 93.04% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VRE. BTIG Research decreased their price target on Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Evercore ISI lifted their price target on 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 upgraded shares of 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Veris Residential presently has an average rating of "Hold" and a consensus target price of $19.20.

Veris Residential Price Performance

Veris Residential stock traded down $0.19 during mid-day trading on Wednesday, hitting $15.97. 717,861 shares of the company were exchanged, compared to its average volume of 626,601. Veris Residential, Inc. has a 12-month low of $13.69 and a 12-month high of $18.85. The company has a market capitalization of $1.49 billion, a P/E ratio of -69.41, a PEG ratio of 2.76 and a beta of 1.34. The business's 50 day simple moving average is $14.73 and its two-hundred day simple moving average is $15.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.61 and a quick ratio of 0.61.

Veris Residential (NYSE:VRE - Get Free Report) last posted 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 return on equity of 1.89% and a negative net margin of 7.84%.The business had revenue of $75.93 million for the quarter, compared to analyst estimates of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. Analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Veris Residential's payout ratio is currently -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.