Jackson Creek Investment Advisors LLC Makes New Investment in Veris Residential, Inc. (NYSE:VRE)

Jackson Creek Investment Advisors LLC bought a new position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 86,635 shares of the company's stock, valued at approximately $1,441,000. Jackson Creek Investment Advisors LLC owned about 0.09% of Veris Residential at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Investment Partners LLC acquired a new stake in shares of Veris Residential during the fourth quarter worth $184,000. Natixis Advisors LLC acquired a new position in shares of Veris Residential during the 3rd quarter valued at about $203,000. Van ECK Associates Corp lifted its holdings in shares of Veris Residential by 12.3% during the 3rd 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. Point72 Asset Management L.P. acquired a new stake in shares of Veris Residential in the third quarter worth approximately $263,000. Finally, Tidal Investments LLC purchased a new stake in Veris Residential in the third quarter valued at approximately $397,000. Hedge funds and other institutional investors own 93.04% of the company's stock.

Analyst Upgrades and Downgrades

VRE has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Bank of America upgraded Veris Residential from a "neutral" rating to a "buy" rating and lifted their target price for the company from $20.00 to $23.00 in a report on Tuesday, November 12th. Truist Financial boosted their price target on Veris Residential from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised Veris Residential from an "underweight" rating to a "neutral" rating and lifted their price objective for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th.

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Veris Residential Stock Up 0.2 %

Shares of VRE stock traded up $0.03 during trading hours on Monday, reaching $16.73. The company had a trading volume of 39,990 shares, compared to its average volume of 397,292. The company has a market capitalization of $1.56 billion, a P/E ratio of -98.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. 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, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The stock's fifty day simple moving average is $16.08 and its 200 day simple moving average is $16.99.

Veris Residential (NYSE:VRE - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. The firm had revenue of $68.08 million during the quarter, compared to analyst estimates of $66.98 million. As a group, sell-side analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.91%. Veris Residential's payout ratio is currently -133.33%.

Veris Residential Profile

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.