Veris Residential, Inc. $VRE Shares Purchased by DigitalBridge Group Inc.

DigitalBridge Group Inc. increased its stake in Veris Residential, Inc. by 16% in Q2, owning 818,694 shares worth $12.19 million. Other institutional investors also adjusted their holdings. Veris Residential reported Q3 earnings of $0.20 per share, beating estimates. The company announced a quarterly dividend of $0.08 per share. Analysts have a consensus "Hold" rating with a price target of $18.25. Veris Residential is a REIT focused on sustainable Class A multifamily properties.

DigitalBridge Group Inc. raised its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,694 shares of the company's stock after buying an additional 112,700 shares during the period. DigitalBridge Group Inc. owned about 0.88% of Veris Residential worth $12,190,000 as of its most recent SEC filing.

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A number of other institutional investors also recently bought and sold shares of the business. Prudential Financial Inc. increased its holdings in shares of Veris Residential by 9.3% in the 2nd quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company's stock valued at $74,137,000 after acquiring an additional 423,683 shares during the last quarter. Geode Capital Management LLC increased its stake in Veris Residential by 1.0% in the second quarter. Geode Capital Management LLC now owns 2,062,170 shares of the company's stock valued at $30,709,000 after purchasing an additional 19,919 shares during the last quarter. Nuveen LLC acquired a new stake in Veris Residential during the first quarter worth approximately $34,817,000. Northern Trust Corp lifted its position in shares of Veris Residential by 0.9% during the 1st quarter. Northern Trust Corp now owns 1,538,788 shares of the company's stock worth $26,036,000 after buying an additional 13,820 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Veris Residential by 5.9% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,210,116 shares of the company's stock valued at $18,019,000 after buying an additional 67,709 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Trading Down 0.4%

Shares of Veris Residential stock opened at $14.70 on Thursday. 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 has a market capitalization of $1.37 billion, a P/E ratio of 21.93, a PEG ratio of 2.35 and a beta of 1.22. Veris Residential, Inc. has a 1 year low of $13.69 and a 1 year high of $17.84. The company's fifty day moving average is $14.83 and its two-hundred day moving average is $14.89.

Veris Residential (NYSE:VRE - Get Free Report) last announced 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 net margin of 22.09% and a return on equity of 4.72%. The business had revenue of $73.44 million during the quarter, compared to analysts' expectations of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. Analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The business 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 $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, December 31st. Veris Residential's dividend payout ratio (DPR) is 47.76%.

Wall Street Analyst Weigh In

Several brokerages recently commented on VRE. Weiss Ratings reiterated a "hold (c)" rating on shares of Veris Residential in a research note on Monday. Wall Street Zen cut Veris Residential from a "buy" rating to a "hold" rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.25.

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Veris Residential Profile

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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.

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