Veris Residential (NYSE:VRE) Sees Large Volume Increase – Time to Buy?

Shares of Veris Residential, Inc. (NYSE:VRE) saw unusually-high trading volume on Tuesday . Approximately 889,232 shares changed hands during trading, an increase of 61% from the previous session’s volume of 551,276 shares.The stock last traded at $14.2480 and had previously closed at $14.18.

Analyst Ratings Changes

A number of equities research analysts have weighed in on VRE shares. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Veris Residential in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.25.

Veris Residential Stock Up 1.1%

The company has a market capitalization of $1.34 billion, a PE ratio of 21.38, a P/E/G ratio of 2.26 and a beta of 1.22. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.53 and a current ratio of 0.53. The company’s 50-day moving average is $14.79 and its 200 day moving average is $14.87.

Veris Residential (NYSE:VRE) last issued its earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be 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 is Wednesday, December 31st. Veris Residential’s dividend payout ratio (DPR) is currently 47.76%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Madison International Realty Holdings LLC purchased a new stake in shares of Veris Residential during the third quarter valued at $78,875,000. Prudential Financial Inc. raised its position in Veris Residential by 9.3% in the 2nd quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company’s stock worth $74,137,000 after buying an additional 423,683 shares during the last quarter. State Street Corp lifted its stake in Veris Residential by 2.5% during the 2nd quarter. State Street Corp now owns 4,729,420 shares of the company’s stock valued at $70,790,000 after acquiring an additional 115,670 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Veris Residential by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,374,440 shares of the company’s stock valued at $36,091,000 after acquiring an additional 501,725 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Veris Residential by 1.0% in the second quarter. Geode Capital Management LLC now owns 2,062,170 shares of the company’s stock worth $30,709,000 after acquiring an additional 19,919 shares during the period. Hedge funds and other institutional investors own 93.04% of the company’s stock.

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.