Geode Capital Management LLC Has $30.71 Million Holdings in Veris Residential, Inc. $VRE

Geode Capital Management LLC lifted its position in Veris Residential, Inc. (NYSE:VRE) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,062,170 shares of the company’s stock after acquiring an additional 19,919 shares during the quarter. Geode Capital Management LLC’s holdings in Veris Residential were worth $30,709,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRE. Metis Global Partners LLC raised its stake in Veris Residential by 30.8% during the 2nd quarter. Metis Global Partners LLC now owns 13,390 shares of the company’s stock valued at $199,000 after purchasing an additional 3,153 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Veris Residential by 5.9% during the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,210,116 shares of the company’s stock valued at $18,019,000 after buying an additional 67,709 shares in the last quarter. Bank of New York Mellon Corp raised its position in Veris Residential by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 667,038 shares of the company’s stock valued at $9,932,000 after buying an additional 21,876 shares during the period. Y Intercept Hong Kong Ltd raised its position in Veris Residential by 107.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 64,631 shares of the company’s stock valued at $962,000 after buying an additional 33,435 shares during the period. Finally, MQS Management LLC purchased a new stake in Veris Residential in the 2nd quarter worth about $246,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen cut Veris Residential from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.25.

Veris Residential Stock Performance

Shares of VRE stock opened at $15.08 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.53 and a quick ratio of 0.53. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $18.47. The stock’s 50-day moving average is $14.88 and its two-hundred day moving average is $14.91. The firm has a market cap of $1.41 billion, a P/E ratio of 22.51, a PEG ratio of 2.27 and a beta of 1.32.

Veris Residential (NYSE:VRE) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.05. The business had revenue of $73.44 million during the quarter, compared to analyst estimates 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. Analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

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

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.