Cbre Investment Management Listed Real Assets LLC increased its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 51.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 975,262 shares of the company's stock after acquiring an additional 332,381 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 1.05% of Veris Residential worth $16,219,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in VRE. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Veris Residential by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company's stock worth $51,000 after acquiring an additional 755 shares during the period. abrdn plc lifted its stake in shares of Veris Residential by 10.5% in the third quarter. abrdn plc now owns 15,671 shares of the company's stock worth $280,000 after acquiring an additional 1,495 shares during the period. Van ECK Associates Corp lifted its stake in shares of Veris Residential by 12.3% in the third quarter. Van ECK Associates Corp now owns 13,492 shares of the company's stock worth $235,000 after acquiring an additional 1,481 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Veris Residential in the third quarter worth approximately $445,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Veris Residential by 0.5% in the third quarter. Victory Capital Management Inc. now owns 1,200,470 shares of the company's stock worth $21,440,000 after acquiring an additional 6,421 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Bank of America upgraded Veris Residential from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Veris Residential from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th. Finally, Evercore ISI reiterated an "in-line" rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.
View Our Latest Research Report on VRE
Veris Residential Stock Up 1.0 %
Shares of NYSE VRE traded up $0.17 during midday trading on Friday, hitting $16.70. 464,860 shares of the stock traded hands, compared to its average volume of 405,674. The company has a market cap of $1.55 billion, a PE ratio of -98.21, a P/E/G ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85. The business has a 50 day moving average price of $16.07 and a two-hundred day moving average price of $16.98. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73.
Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $68.08 million for the quarter, compared to the consensus estimate of $66.98 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. On average, equities analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.
Veris Residential Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.92%. Veris Residential's dividend payout ratio is -133.33%.
About Veris Residential
(
Free Report)
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.
Read More
Before you consider Veris Residential, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Veris Residential wasn't on the list.
While Veris Residential currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
