Raymond James Financial Inc. Takes Position in Veris Residential, Inc. (NYSE:VRE)

Raymond James Financial Inc. bought a new position in Veris Residential, Inc. (NYSE:VRE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 104,458 shares of the company's stock, valued at approximately $1,737,000. Raymond James Financial Inc. owned 0.11% of Veris Residential at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC boosted its position in shares of Veris Residential by 60.7% during the third quarter. Intech Investment Management LLC now owns 23,386 shares of the company's stock worth $418,000 after buying an additional 8,837 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 worth $26,264,000 after acquiring an additional 49,378 shares during the last quarter. FMR LLC grew its stake in shares of Veris Residential by 5,945.2% during the 3rd quarter. FMR LLC now owns 224,278 shares of the company's stock worth $4,006,000 after acquiring an additional 220,568 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Veris Residential by 491.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 616,605 shares of the company's stock valued at $11,013,000 after purchasing an additional 512,406 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Veris Residential in the third quarter worth $263,000. Institutional investors own 93.04% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded 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 report on Tuesday, December 17th. Truist Financial boosted their target price on shares of Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price target (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th.

Veris Residential Stock Performance

Shares of VRE traded down $0.77 during mid-day trading on Friday, reaching $15.90. The company's stock had a trading volume of 194,801 shares, compared to its average volume of 508,177. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.48 billion, a P/E ratio of -93.40, a PEG ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The business has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $16.88.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). The company had revenue of $68.08 million during the quarter, compared to analyst estimates 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 fiscal year.

Veris Residential Dividend Announcement

The firm also recently announced 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 of this dividend is Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.01%. Veris Residential's dividend payout ratio is presently -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.