Quantbot Technologies LP Decreases Position in Veris Residential, Inc. $VRE

Key Points

• Quantbot Technologies LP significantly reduced its holdings in Veris Residential, cutting its stake by 62.7% and now owning 13,346 shares valued at approximately $226,000.
• Several large investors have also made significant changes to their stakes in Veris Residential, with Nuveen LLC acquiring a new position valued at $34.8 million, while Northern Trust Corp and other firms increased their holdings.
• Analysts have varied ratings on Veris Residential, with price targets ranging from $16.00 to $22.00, and a consensus rating of "Hold" reflecting mixed sentiment in the market.

Quantbot Technologies LP decreased its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 62.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,346 shares of the company's stock after selling 22,403 shares during the quarter. Quantbot Technologies LP's holdings in Veris Residential were worth $226,000 as of its most recent SEC filing.

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

Veris Residential Price Performance

Veris Residential stock traded down $0.34 during midday trading on Tuesday, reaching $15.39. 895,893 shares of the stock traded hands, compared to its average volume of 480,701. The stock's fifty day moving average is $14.59 and its 200-day moving average is $15.32. Veris Residential, Inc. has a 12 month low of $13.69 and a 12 month high of $18.85. The stock has a market cap of $1.44 billion, a P/E ratio of -66.91, a PEG ratio of 2.69 and a beta of 1.34. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.47.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results 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 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. As a group, equities research analysts anticipate 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. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. Veris Residential's dividend payout ratio is -139.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BTIG Research dropped their price objective 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. Wall Street Zen raised Veris Residential from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial dropped their price objective 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, Evercore ISI upped their price objective 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Veris Residential presently has an average rating of "Hold" and an average target price 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.