MQS Management LLC Invests $246,000 in Veris Residential, Inc. $VRE

MQS Management LLC acquired a new position in Veris Residential, Inc. (NYSE:VRE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,522 shares of the company’s stock, valued at approximately $246,000.

Several other large investors also recently made changes to their positions in VRE. Nuveen LLC acquired a new stake in shares of Veris Residential in the first quarter worth $34,817,000. Goldman Sachs Group Inc. increased its position 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 acquiring an additional 423,482 shares in the last quarter. Boothbay Fund Management LLC increased its position in shares of Veris Residential by 961.0% in the first quarter. Boothbay Fund Management LLC now owns 402,616 shares of the company’s stock worth $6,812,000 after acquiring an additional 364,670 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of Veris Residential in the first quarter worth $5,714,000. Finally, Anson Funds Management LP increased its position in shares of Veris Residential by 1,027.5% in the first quarter. Anson Funds Management LP now owns 249,150 shares of the company’s stock worth $4,209,000 after acquiring an additional 227,053 shares in the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Trading Down 0.9%

NYSE VRE opened at $14.92 on Tuesday. Veris Residential, Inc. has a 12 month low of $13.69 and a 12 month high of $18.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.44 and a beta of 1.35. The company’s fifty day moving average price is $15.17 and its two-hundred day moving average price is $15.02.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Veris Residential had a net margin of 22.09% and a return on equity of 4.72%. The firm 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. As a group, research analysts predict 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 was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid 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 was Tuesday, September 30th. Veris Residential’s dividend payout ratio is 47.76%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on VRE shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a report on Wednesday, October 8th. Wall Street Zen raised shares of Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI raised their price target on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th. Finally, BTIG Research lowered their price target 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. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Veris Residential currently has an average rating of “Hold” and an average target price of $19.20.

Veris Residential Company 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.