Cbre Investment Management Listed Real Assets LLC Boosts Stock Position in Veris Residential, Inc. $VRE

Cbre Investment Management Listed Real Assets LLC boosted its holdings in Veris Residential, Inc. (NYSE:VRE) by 17.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,142,407 shares of the company’s stock after buying an additional 167,145 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 1.22% of Veris Residential worth $19,330,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new position in Veris Residential in the first quarter valued at $810,000. Raymond James Financial Inc. purchased a new position in Veris Residential in the fourth quarter valued at $1,737,000. New York State Common Retirement Fund boosted its stake 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 valued at $419,000 after acquiring an additional 3,000 shares in the last quarter. GAMMA Investing LLC boosted its stake in Veris Residential by 1,629.2% in the first quarter. GAMMA Investing LLC now owns 22,808 shares of the company’s stock valued at $386,000 after acquiring an additional 21,489 shares in the last quarter. Finally, Man Group plc acquired a new position in Veris Residential in the fourth quarter valued at $851,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Ratings Changes

VRE has been the subject of several research analyst reports. BTIG Research decreased their price objective on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, July 23rd. Evercore ISI upped their price objective on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a research note on Friday, July 25th. Truist Financial decreased their price objective on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Veris Residential from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.20.

Veris Residential Price Performance

Shares of VRE opened at $15.2310 on Friday. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $18.85. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -66.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.24. The firm has a 50-day simple moving average of $14.53 and a 200-day simple moving average of $15.35. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.61 and a current ratio of 0.61.

Veris Residential (NYSE:VRE) last announced its earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.89%. The business had revenue of $75.93 million during the quarter, compared to the consensus estimate of $69.06 million. Veris Residential has set its FY 2025 guidance at 0.630-0.640 EPS. On average, equities research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.1%. Veris Residential’s dividend payout ratio is -139.13%.

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.