Fox Run Management L.L.C. Sells 14,156 Shares of Veris Residential, Inc. $VRE

Fox Run Management L.L.C. lessened its holdings in Veris Residential, Inc. (NYSE:VRE) by 34.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,435 shares of the company’s stock after selling 14,156 shares during the period. Fox Run Management L.L.C.’s holdings in Veris Residential were worth $409,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. CWM LLC lifted its position in shares of Veris Residential by 925.9% during the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after buying an additional 6,333 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Veris Residential in the first quarter worth approximately $195,000. Metis Global Partners LLC boosted its position in shares of Veris Residential by 30.8% in the second quarter. Metis Global Partners LLC now owns 13,390 shares of the company’s stock worth $199,000 after purchasing an additional 3,153 shares during the period. Natixis Advisors LLC purchased a new stake in shares of Veris Residential in the first quarter worth $202,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Veris Residential during the 1st quarter valued at $207,000. 93.04% of the stock is owned by institutional investors.

Veris Residential Price Performance

Shares of Veris Residential stock opened at $14.94 on Thursday. The firm has a market cap of $1.40 billion, a PE ratio of 22.30, a PEG ratio of 2.27 and a beta of 1.32. The stock has a 50 day moving average of $15.06 and a 200 day moving average of $14.96. 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, Inc. has a 12 month low of $13.69 and a 12 month high of $18.85.

Veris Residential (NYSE:VRE) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05. The business 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. On average, research analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on VRE. Evercore ISI upped their target price on shares of Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a report on Friday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Veris Residential in a report on Thursday, October 30th. BTIG Research cut their price objective on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.25.

About Veris Residential

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.