Cbre Investment Management Listed Real Assets LLC Acquires 67,709 Shares of Veris Residential, Inc. $VRE

Cbre Investment Management Listed Real Assets LLC boosted its holdings in Veris Residential, Inc. (NYSE:VRE) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,210,116 shares of the company’s stock after buying an additional 67,709 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Veris Residential were worth $18,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas bought a new position in shares of Veris Residential in the first quarter worth $207,000. Principal Financial Group Inc. lifted its holdings in Veris Residential by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 402,124 shares of the company’s stock worth $6,804,000 after purchasing an additional 10,293 shares in the last quarter. Cerity Partners LLC boosted its stake in Veris Residential by 110.4% in the 1st quarter. Cerity Partners LLC now owns 21,403 shares of the company’s stock worth $362,000 after purchasing an additional 11,231 shares during the period. New York State Common Retirement Fund grew its holdings in Veris Residential by 13.8% during the 1st quarter. New York State Common Retirement Fund now owns 24,786 shares of the company’s stock valued at $419,000 after buying an additional 3,000 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in shares of Veris Residential during the first quarter valued at about $916,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VRE. Evercore ISI raised 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 report on Friday, July 25th. BTIG Research lowered their target price on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Veris Residential in a research report on Thursday, October 30th. Finally, Wall Street Zen raised shares of Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.20.

Veris Residential Stock Performance

NYSE VRE opened at $14.75 on Friday. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.85. The company has a fifty day moving average of $15.11 and a 200-day moving average of $14.98. The company has a market capitalization of $1.38 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.27 and a beta of 1.32. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.53 and a current ratio of 0.53.

Veris Residential (NYSE:VRE) last released its earnings results 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 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 analysts’ expectations of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. As a group, equities research analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 dividend yield of 2.2%. Veris Residential’s dividend 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.