Swiss National Bank Grows Position in Veris Residential, Inc. (NYSE:VRE)

Swiss National Bank increased its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,400 shares of the company's stock after acquiring an additional 19,300 shares during the quarter. Swiss National Bank owned about 0.18% of Veris Residential worth $2,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Cornerstone Investment Partners LLC purchased a new stake in shares of Veris Residential in the fourth quarter worth $184,000. Natixis Advisors LLC purchased a new stake in Veris Residential during the third quarter valued at approximately $203,000. Van ECK Associates Corp raised its position in Veris Residential by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after acquiring an additional 1,378 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Veris Residential during the 3rd quarter worth $263,000. Finally, Tidal Investments LLC bought a new stake in shares of Veris Residential during the 3rd quarter valued at $397,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Price Performance

Shares of Veris Residential stock traded up $0.06 during trading hours on Friday, hitting $16.77. The company's stock had a trading volume of 278,075 shares, compared to its average volume of 508,485. The company has a market cap of $1.56 billion, a PE ratio of -98.61, a PEG 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. The business has a 50 day moving average price of $16.17 and a two-hundred day moving average price of $16.90. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85.

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Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings results 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). 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 the consensus estimate of $66.98 million. Analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 1.91%. Veris Residential's payout ratio is -133.33%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Evercore ISI reiterated 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. Truist Financial lifted their price objective on Veris Residential from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised 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 report on Tuesday, December 17th.

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.