Fox Run Management L.L.C. bought a new stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,414 shares of the company's stock, valued at approximately $606,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC raised its holdings in Veris Residential by 51.7% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company's stock worth $16,219,000 after purchasing an additional 332,381 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Veris Residential by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company's stock worth $35,743,000 after buying an additional 21,133 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Veris Residential by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,470,536 shares of the company's stock valued at $26,264,000 after acquiring an additional 49,378 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Veris Residential by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company's stock valued at $37,557,000 after buying an additional 219,901 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Veris Residential by 5.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company's stock valued at $2,009,000 after purchasing an additional 6,287 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. Evercore ISI reissued an "in-line" rating and set a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upgraded Veris Residential from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th. Finally, Truist Financial upped their price target on Veris Residential from $16.00 to $17.00 and gave the company a "hold" rating in a report on Monday, March 10th.
Check Out Our Latest Analysis on VRE
Veris Residential Trading Up 0.3 %
Shares of Veris Residential stock traded up $0.06 during trading hours on Friday, reaching $16.77. The stock had a trading volume of 278,075 shares, compared to its average volume of 508,485. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85. The firm has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $16.90. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -98.61, a P/E/G ratio of 2.50 and a beta of 1.24. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34.
Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $68.08 million during 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%. As a group, equities research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.
Veris Residential Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.91%. The ex-dividend date is Monday, March 31st. Veris Residential's dividend payout ratio is currently -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.
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