Inspire Investing LLC Acquires 6,053 Shares of Veris Residential, Inc. $VRE

Inspire Investing LLC boosted its holdings in Veris Residential, Inc. (NYSE:VRE) by 29.8% during the second quarter, Holdings Channel reports. The fund owned 26,399 shares of the company’s stock after purchasing an additional 6,053 shares during the period. Inspire Investing LLC’s holdings in Veris Residential were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in Veris Residential in the 1st quarter valued at $810,000. Cbre Investment Management Listed Real Assets LLC raised its stake in Veris Residential by 17.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,142,407 shares of the company’s stock valued at $19,330,000 after acquiring an additional 167,145 shares during the period. New York State Common Retirement Fund grew its holdings in Veris Residential by 13.8% in 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. GAMMA Investing LLC grew its holdings in Veris Residential by 1,629.2% in the 1st quarter. GAMMA Investing LLC now owns 22,808 shares of the company’s stock valued at $386,000 after buying an additional 21,489 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Veris Residential by 110.4% in the 1st quarter. Cerity Partners LLC now owns 21,403 shares of the company’s stock valued at $362,000 after buying an additional 11,231 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Veris Residential Stock Performance

VRE opened at $14.58 on Tuesday. The firm has a market cap of $1.36 billion, a P/E ratio of -63.39, a price-to-earnings-growth ratio of 2.46 and a beta of 1.35. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.61 and a current ratio of 0.61. The business’s fifty day moving average is $15.03 and its 200-day moving average is $15.10.

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

Veris Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 30th. Veris Residential’s dividend payout ratio is -139.13%.

Wall Street Analyst Weigh In

A number of brokerages have commented on VRE. BTIG Research decreased their price objective on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a report on Wednesday, October 8th. Wall Street Zen raised Veris Residential from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Evercore ISI upped their price objective on Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.20.

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.