Veris Residential (NYSE:VRE) Shares Up 0.4% – What’s Next?

Veris Residential, Inc. (NYSE:VRE) traded up 0.4% on Friday . The stock traded as high as $15.00 and last traded at $14.9150. 495,978 shares were traded during trading, a decline of 9% from the average session volume of 542,598 shares. The stock had previously closed at $14.86.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRE shares. Wall Street Zen raised Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.67.

Veris Residential Price Performance

The firm has a 50 day moving average price of $14.84 and a 200 day moving average price of $14.83. The stock has a market capitalization of $1.39 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.31 and a beta of 1.25. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.13.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $73.44 million for the quarter, compared to the consensus estimate of $73.74 million. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. Research 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 announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Veris Residential’s dividend payout ratio is currently 47.76%.

Hedge Funds Weigh In On Veris Residential

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Veris Residential by 26.6% in the first quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock worth $292,000 after purchasing an additional 3,623 shares in the last quarter. AQR Capital Management LLC increased its stake in Veris Residential by 88.8% in the 1st quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock worth $911,000 after buying an additional 25,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Veris Residential by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock worth $790,000 after buying an additional 2,064 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Veris Residential by 72.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock valued at $17,033,000 after acquiring an additional 423,482 shares during the period. Finally, Jane Street Group LLC lifted its position in shares of Veris Residential by 234.4% in the first quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock valued at $1,926,000 after acquiring an additional 79,802 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.