Veris Residential, Inc. (NYSE:VRE) Short Interest Update

Veris Residential, Inc. (NYSE:VRE) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 2,517,163 shares, a decrease of 28.0% from the December 15th total of 3,493,976 shares. Approximately 3.2% of the company’s stock are short sold. Based on an average daily volume of 661,819 shares, the days-to-cover ratio is currently 3.8 days. Based on an average daily volume of 661,819 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.2% of the company’s stock are short sold.

Veris Residential Stock Up 0.4%

Shares of NYSE:VRE traded up $0.06 during midday trading on Friday, hitting $14.92. 495,978 shares of the company’s stock were exchanged, compared to its average volume of 542,598. 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 12 month low of $13.69 and a 12 month high of $17.18. The company has a market cap of $1.39 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.31 and a beta of 1.25. The stock has a 50 day moving average price of $14.84 and a 200-day moving average price of $14.83.

Veris Residential (NYSE:VRE) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $73.44 million during the quarter, compared to the consensus estimate of $73.74 million. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, sell-side analysts anticipate that Veris Residential 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, January 9th. Investors of record on Wednesday, December 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.1%. Veris Residential’s payout ratio is presently 47.76%.

Hedge Funds Weigh In On Veris Residential

Large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Veris Residential by 26.6% in the 1st quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock worth $292,000 after acquiring an additional 3,623 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Veris Residential by 88.8% during the first quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock worth $911,000 after purchasing an additional 25,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Veris Residential by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock worth $790,000 after purchasing an additional 2,064 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Veris Residential by 72.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock worth $17,033,000 after purchasing an additional 423,482 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Veris Residential by 234.4% in the 1st quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock valued at $1,926,000 after buying an additional 79,802 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

VRE has been the subject of a number of research analyst reports. Wall Street Zen raised Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.67.

About Veris Residential

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.