OVERSEA CHINESE BANKING Corp Ltd decreased its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 27.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 301,407 shares of the company's stock after selling 116,511 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.32% of Veris Residential worth $5,012,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRE. Cornerstone Investment Partners LLC acquired a new position in Veris Residential in the 4th quarter worth approximately $184,000. Natixis Advisors LLC acquired a new position in Veris Residential in the 3rd quarter worth approximately $203,000. Van ECK Associates Corp boosted its stake in Veris Residential by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after purchasing an additional 1,378 shares during the period. Point72 Asset Management L.P. acquired a new position in Veris Residential in the 3rd quarter worth approximately $263,000. Finally, Tidal Investments LLC acquired a new position in Veris Residential in the 3rd quarter worth approximately $397,000. Institutional investors and hedge funds own 93.04% of the company's stock.
Analyst Ratings Changes
A number of research firms recently commented on VRE. Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 price objective (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upgraded shares of Veris Residential from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th. Finally, Truist Financial increased their target price on shares of Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a research report on Monday, March 10th.
Get Our Latest Research Report on VRE
Veris Residential Stock Down 0.1 %
Shares of Veris Residential stock traded down $0.02 during midday trading on Friday, reaching $16.29. 1,047,010 shares of the company's stock traded hands, compared to its average volume of 486,192. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -95.80, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company's 50 day simple moving average is $16.10 and its 200 day simple moving average is $16.92. 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 52 week low of $13.84 and a 52 week high of $18.85.
Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The business 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%. Equities analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.
Veris Residential Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.96%. Veris Residential's dividend payout ratio is currently -133.33%.
Veris Residential Profile
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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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