Inspire Investing LLC Has $393,000 Stake in Veris Residential, Inc. $VRE

Inspire Investing LLC lifted its position in Veris Residential, Inc. (NYSE:VRE) by 29.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,399 shares of the company’s stock after purchasing an additional 6,053 shares during the quarter. Inspire Investing LLC’s holdings in Veris Residential were worth $393,000 at the end of the most recent reporting period.

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

Veris Residential Trading Up 1.3%

Shares of Veris Residential stock opened at $14.58 on Tuesday. 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 $1.36 billion, a P/E ratio of -63.39, a P/E/G ratio of 2.46 and a beta of 1.35. 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 business’s 50 day moving average is $15.03 and its 200-day moving average is $15.10.

Veris Residential (NYSE:VRE) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. Equities research analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.2%. Veris Residential’s dividend payout ratio is currently -139.13%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VRE. BTIG Research lowered their price objective on Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Evercore ISI boosted their target price on Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a research report on Friday, July 25th. Wall Street Zen upgraded Veris Residential from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.20.

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.