Woodline Partners LP Sells 165,576 Shares of Veris Residential, Inc. $VRE

Key Points

• Woodline Partners LP reduced its stake in Veris Residential, Inc. by 17.9%, selling 165,576 shares, and now holds approximately 0.81% of the company valued at $12.8 million.
• Several hedge funds, including BNP Paribas Financial Markets and Deutsche Bank AG, have increased their positions in Veris Residential, resulting in institutional investors owning 93.04% of the company.
• Veris Residential reported an EPS of $0.17 for the last quarter, exceeding estimates, and declared a quarterly dividend of $0.08 per share with a yield of 2.0%.

Woodline Partners LP reduced its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 17.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 756,939 shares of the company's stock after selling 165,576 shares during the quarter. Woodline Partners LP owned approximately 0.81% of Veris Residential worth $12,807,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in VRE. Nuveen LLC acquired a new stake in shares of Veris Residential during the first quarter worth approximately $34,817,000. Goldman Sachs Group Inc. boosted its holdings in shares of Veris Residential by 72.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company's stock worth $17,033,000 after purchasing an additional 423,482 shares during the period. Boothbay Fund Management LLC boosted its holdings in shares of Veris Residential by 961.0% during the first quarter. Boothbay Fund Management LLC now owns 402,616 shares of the company's stock worth $6,812,000 after purchasing an additional 364,670 shares during the period. APG Asset Management US Inc. acquired a new stake in shares of Veris Residential during the first quarter worth approximately $5,714,000. Finally, Anson Funds Management LP boosted its holdings in shares of Veris Residential by 1,027.5% during the first quarter. Anson Funds Management LP now owns 249,150 shares of the company's stock worth $4,209,000 after purchasing an additional 227,053 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRE. Evercore ISI lifted their target price 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. BTIG Research reduced their target price on shares of Veris Residential from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of 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. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.20.

Veris Residential Stock Performance

Shares of NYSE:VRE traded up $0.09 during trading on Wednesday, reaching $15.48. The stock had a trading volume of 99,417 shares, compared to its average volume of 515,253. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $18.85. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -67.33, a P/E/G ratio of 2.63 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. The stock has a fifty day simple moving average of $14.82 and a two-hundred day simple moving average of $15.31.

Veris Residential (NYSE:VRE - Get Free Report) last released 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 net margin of 7.84% and a negative return on equity of 1.89%. The company 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. As a group, analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. Veris Residential's payout ratio is -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.