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

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

Analyst Ratings Changes

Several research firms have recently issued reports on VRE. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. Wall Street Zen upgraded Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.67.

Veris Residential Trading Up 0.4%

Shares of VRE traded up $0.06 during trading hours on Friday, hitting $14.92. 495,978 shares of the stock were exchanged, compared to its average volume of 542,598. Veris Residential has a fifty-two week low of $13.69 and a fifty-two week high of $17.18. 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 business has a 50-day moving average of $14.84 and a 200-day moving average of $14.83. The firm has a market capitalization of $1.39 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 2.31 and a beta of 1.25.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, October 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $73.44 million for the quarter, compared to analyst estimates of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. On average, research analysts expect that Veris Residential will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The firm 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 was Wednesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.1%. Veris Residential’s dividend payout ratio is presently 47.76%.

Institutional Investors Weigh In On Veris Residential

A number of hedge funds have recently added to or reduced their stakes in VRE. GAMMA Investing LLC boosted its holdings in shares of Veris Residential by 71.1% during the 4th quarter. GAMMA Investing LLC now owns 1,954 shares of the company’s stock worth $29,000 after buying an additional 812 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Veris Residential by 720.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock valued at $32,000 after acquiring an additional 1,872 shares during the period. Covestor Ltd boosted its stake in Veris Residential by 29.0% during the third quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares in the last quarter. Quarry LP grew its holdings in Veris Residential by 746.6% in the third quarter. Quarry LP now owns 4,326 shares of the company’s stock worth $66,000 after purchasing an additional 3,815 shares during the period. Finally, CWM LLC grew its holdings in Veris Residential by 925.9% in the second quarter. CWM LLC now owns 7,017 shares of the company’s stock worth $104,000 after purchasing an additional 6,333 shares during the period. 93.04% of the stock is currently owned by institutional investors.

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.