Veris Residential, Inc. (VRE) to Issue Quarterly Dividend of $0.08 on January 9th

Veris Residential, Inc. (NYSE:VRE) announced a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, December 31st will be given a dividend of 0.08 per share on Friday, January 9th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 31st.

Veris Residential has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Veris Residential has a payout ratio of -177.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Veris Residential to earn $0.61 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 52.5%.

Veris Residential Stock Performance

NYSE VRE opened at $14.75 on Friday. The company’s 50 day simple moving average is $15.11 and its two-hundred day simple moving average is $14.98. 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 1 year low of $13.69 and a 1 year high of $18.85. The stock has a market capitalization of $1.38 billion, a PE ratio of 22.02, a P/E/G ratio of 2.27 and a beta of 1.32.

Veris Residential (NYSE:VRE) last released its quarterly 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 firm had revenue of $73.44 million during the quarter, compared to analyst estimates of $73.74 million. Veris Residential has set its FY 2025 guidance at 0.670-0.680 EPS. Analysts predict that Veris Residential will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of Veris Residential

Several institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its holdings in shares of Veris Residential by 720.0% in the third quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock worth $32,000 after buying an additional 1,872 shares during the period. Covestor Ltd grew its position in Veris Residential by 29.0% during the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares during the last quarter. CWM LLC increased its stake in Veris Residential by 925.9% in the 2nd 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. AlphaQuest LLC lifted its position in Veris Residential by 49.5% in the third quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock valued at $128,000 after purchasing an additional 2,780 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Veris Residential by 307.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock valued at $128,000 after purchasing an additional 6,500 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

About Veris Residential

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.