Veris Residential, Inc. (NYSE:VRE) Short Interest Down 28.0% in December

Veris Residential, Inc. (NYSE:VRE) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 2,517,163 shares, a drop of 28.0% from the December 15th total of 3,493,976 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average trading volume of 661,819 shares, the days-to-cover ratio is presently 3.8 days. Based on an average trading volume of 661,819 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. 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 report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.67.

Hedge Funds Weigh In On Veris Residential

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Veris Residential by 26.6% in the 1st quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock valued at $292,000 after acquiring an additional 3,623 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Veris Residential by 88.8% during the first quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock valued at $911,000 after purchasing an additional 25,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Veris Residential by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock valued at $790,000 after purchasing an additional 2,064 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings 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 worth $17,033,000 after purchasing an additional 423,482 shares during the last quarter. 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 worth $1,926,000 after buying an additional 79,802 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Veris Residential Price Performance

Veris Residential stock traded up $0.06 during mid-day trading on Monday, hitting $14.92. The stock had a trading volume of 495,978 shares, compared to its average volume of 468,396. Veris Residential has a one year low of $13.69 and a one year high of $17.18. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $1.39 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.31 and a beta of 1.25. The firm’s 50 day moving average is $14.84 and its 200 day moving average is $14.83.

Veris Residential (NYSE:VRE) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.The business had revenue of $73.44 million for the quarter, compared to the consensus estimate of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, sell-side analysts forecast that Veris Residential will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Veris Residential’s dividend payout ratio (DPR) is 47.76%.

About Veris Residential

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.