Short Interest in Veris Residential, Inc. (NYSE:VRE) Increases By 43.2%

Veris Residential, Inc. (NYSE:VRE) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 3,910,000 shares, a growth of 43.2% from the September 30th total of 2,730,000 shares. Based on an average trading volume of 616,600 shares, the short-interest ratio is presently 6.3 days. Approximately 4.3% of the company’s stock are sold short. Approximately 4.3% of the company’s stock are sold short. Based on an average trading volume of 616,600 shares, the short-interest ratio is presently 6.3 days.

Institutional Trading of Veris Residential

Several institutional investors have recently added to or reduced their stakes in VRE. Covestor Ltd boosted its stake in Veris Residential by 29.0% during the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock valued at $49,000 after purchasing an additional 736 shares during the last quarter. CWM LLC boosted its stake in shares of Veris Residential by 925.9% in the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock worth $104,000 after buying an additional 6,333 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Veris Residential by 49.5% in the 3rd quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock worth $128,000 after buying an additional 2,780 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Veris Residential by 307.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock worth $128,000 after buying an additional 6,500 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Veris Residential in the 1st quarter worth $195,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on VRE shares. Weiss Ratings reissued a “hold (c)” rating on shares of Veris Residential in a research report on Thursday. Wall Street Zen raised Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. BTIG Research decreased their target price on Veris Residential from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their target price on Veris Residential from $17.50 to $18.00 and gave the stock an “in-line” rating in a research report on Friday, July 25th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Veris Residential currently has an average rating of “Hold” and a consensus price target of $19.20.

Veris Residential Stock Performance

VRE remained flat at $14.36 during trading on Monday. The company’s stock had a trading volume of 579,275 shares, compared to its average volume of 534,356. The business’s 50-day moving average is $15.16 and its 200 day moving average is $15.00. 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 has a 1-year low of $13.69 and a 1-year high of $18.85. The firm has a market cap of $1.34 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.27 and a beta of 1.35.

Veris Residential (NYSE:VRE) last issued its earnings results 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, equities analysts expect that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 30th. Veris Residential’s dividend payout ratio (DPR) is currently 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.