Boothbay Fund Management LLC Has $7.26 Million Stock Holdings in Veris Residential, Inc. $VRE

Boothbay Fund Management LLC increased its position in shares of Veris Residential, Inc. (NYSE:VRE) by 21.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 487,868 shares of the company’s stock after acquiring an additional 85,252 shares during the quarter. Boothbay Fund Management LLC owned about 0.52% of Veris Residential worth $7,264,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Prudential Financial Inc. raised its holdings in Veris Residential by 9.3% in the second quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company’s stock worth $74,137,000 after purchasing an additional 423,683 shares during the period. State Street Corp raised 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 worth $70,790,000 after buying an additional 115,670 shares during the period. Geode Capital Management LLC lifted its holdings in Veris Residential by 1.0% during 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 in the last quarter. Nuveen LLC bought a new position in Veris Residential during the first quarter worth about $34,817,000. Finally, Northern Trust Corp grew its stake in Veris Residential by 0.9% in the first quarter. Northern Trust Corp now owns 1,538,788 shares of the company’s stock valued at $26,036,000 after acquiring an additional 13,820 shares during the period. Institutional investors own 93.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on VRE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Veris Residential in a research report on Monday. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.25.

Veris Residential Stock Up 1.0%

VRE stock opened at $14.74 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $1.38 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.33 and a beta of 1.22. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $17.84. The business has a 50-day moving average of $14.75 and a 200-day moving average of $14.86.

Veris Residential (NYSE:VRE) last released 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 firm 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. On average, sell-side analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 annualized dividend and a yield of 2.2%. Veris Residential’s dividend payout ratio is presently 47.76%.

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.