Veris Residential, Inc. $VRE Shares Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC boosted its holdings in Veris Residential, Inc. (NYSE:VRE) by 19.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,334 shares of the company’s stock after purchasing 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.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Veris Residential by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company’s stock worth $742,000 after acquiring an additional 1,465 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Veris Residential in the fourth quarter worth $25,000. Point72 Hong Kong Ltd purchased a new position in Veris Residential in the fourth quarter worth $45,000. Y Intercept Hong Kong Ltd raised its position in Veris Residential by 10.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 31,196 shares of the company’s stock worth $528,000 after acquiring an additional 2,887 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position 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 worth $419,000 after acquiring an additional 3,000 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Trading Up 0.9%

Shares of VRE stock opened at $15.88 on Friday. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $18.85. The stock has a market cap of $1.48 billion, a P/E ratio of -69.04, a P/E/G ratio of 2.69 and a beta of 1.34. The business has a fifty day simple moving average of $14.63 and a 200-day simple moving average of $15.32. 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) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share 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 business had revenue of $75.93 million during the quarter, compared to analysts’ expectations of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. On average, analysts forecast 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 will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid 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 dividend yield of 2.0%. Veris Residential’s dividend payout ratio (DPR) is presently -139.13%.

Analyst Ratings Changes

VRE has been the subject of several research analyst reports. Wall Street Zen upgraded Veris Residential from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Evercore ISI increased their price objective 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. Finally, BTIG Research dropped their price target 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. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.