Quantbot Technologies LP purchased a new stake in Veris Residential, Inc. (NYSE:VRE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,749 shares of the company's stock, valued at approximately $595,000.
A number of other hedge funds also recently made changes to their positions in VRE. JPMorgan Chase & Co. increased its position in Veris Residential by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company's stock valued at $37,557,000 after acquiring an additional 219,901 shares during the period. Geode Capital Management LLC grew its stake in shares of Veris Residential by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company's stock worth $35,743,000 after purchasing an additional 21,133 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Veris Residential by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,483,318 shares of the company's stock valued at $24,668,000 after purchasing an additional 12,782 shares during the period. Victory Capital Management Inc. raised its stake in shares of Veris Residential by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,217,649 shares of the company's stock valued at $20,250,000 after purchasing an additional 17,179 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted 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 during the period. Institutional investors own 93.04% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on VRE. JPMorgan Chase & Co. raised shares of Veris Residential from an "underweight" rating to a "neutral" rating and raised their target price for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th. Evercore ISI reiterated an "in-line" rating and set a $18.00 price objective (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Finally, Truist Financial boosted their target price on Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Monday, March 10th.
View Our Latest Research Report on Veris Residential
Veris Residential Price Performance
Veris Residential stock traded up $0.07 during midday trading on Tuesday, hitting $16.99. The company's stock had a trading volume of 655,043 shares, compared to its average volume of 509,751. Veris Residential, Inc. has a 12 month low of $13.84 and a 12 month high of $18.85. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.58 billion, a PE ratio of -99.91, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The stock's 50-day moving average price is $16.21 and its 200-day moving average price is $16.88.
Veris Residential (NYSE:VRE - Get Free Report) last released 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 company had revenue of $68.08 million for the quarter, compared to the consensus estimate of $66.98 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. Analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.
Veris Residential Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 1.88%. Veris Residential's payout ratio is presently -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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