Cubist Systematic Strategies LLC Purchases 45,277 Shares of Veris Residential, Inc. $VRE

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in Veris Residential during the 1st quarter worth approximately $810,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in Veris Residential by 17.1% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,142,407 shares of the company's stock worth $19,330,000 after acquiring an additional 167,145 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Veris Residential by 13.8% in the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock valued at $419,000 after buying an additional 3,000 shares in the last quarter. GAMMA Investing LLC lifted its stake in Veris Residential by 1,629.2% in the first quarter. GAMMA Investing LLC now owns 22,808 shares of the company's stock valued at $386,000 after buying an additional 21,489 shares in the last quarter. Finally, Man Group plc bought a new position in Veris Residential in the fourth quarter valued at approximately $851,000. Institutional investors own 93.04% of the company's stock.

Veris Residential Stock Down 1.0%

Shares of VRE stock traded down $0.16 during trading on Wednesday, reaching $16.00. The company's stock had a trading volume of 224,121 shares, compared to its average volume of 507,288. The business has a fifty day moving average price of $14.71 and a 200-day moving average price of $15.33. 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 company has a market cap of $1.49 billion, a price-to-earnings ratio of -69.54, a price-to-earnings-growth ratio of 2.77 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.

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

Veris Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 30th. Veris Residential's dividend payout ratio is -139.13%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. BTIG Research cut their price target on shares of Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen raised shares of Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Evercore ISI lifted their price target 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus 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.