KLP Kapitalforvaltning AS acquired a new stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,400 shares of the company's stock, valued at approximately $274,000.
Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Investment Partners LLC purchased a new stake in shares of Veris Residential during the fourth quarter worth approximately $184,000. Van ECK Associates Corp raised its position in Veris Residential by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after buying an additional 1,378 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Veris Residential during the 3rd quarter worth $263,000. Tidal Investments LLC purchased a new stake in shares of Veris Residential in the third quarter valued at about $397,000. Finally, Arizona State Retirement System increased its stake in shares of Veris Residential by 13.6% during the fourth quarter. Arizona State Retirement System now owns 24,263 shares of the company's stock worth $403,000 after acquiring an additional 2,897 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.
Veris Residential Price Performance
VRE traded down $0.05 during trading on Friday, reaching $15.05. 501,242 shares of the stock were exchanged, compared to its average volume of 513,312. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -88.52, a P/E/G ratio of 2.50 and a beta of 1.17. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85. The business's 50 day moving average price is $16.15 and its two-hundred day moving average price is $16.74.
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). Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The business had revenue of $68.08 million during the quarter, compared to analysts' expectations of $66.98 million. As a group, equities research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.
Veris Residential Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.13%. Veris Residential's dividend payout ratio (DPR) is -133.33%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on VRE. Truist Financial boosted their target price on Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a research report on Monday, March 10th. JPMorgan Chase & Co. upgraded shares of Veris Residential from an "underweight" rating to a "neutral" rating and raised their price objective for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th. Finally, Evercore ISI restated an "in-line" rating and set a $18.00 target price (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th.
Read Our Latest Stock Report on Veris Residential
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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