Vanguard Group Inc. lifted its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,697,341 shares of the company's stock after buying an additional 331,354 shares during the quarter. Vanguard Group Inc. owned approximately 13.67% of Veris Residential worth $211,157,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Cornerstone Investment Partners LLC acquired a new position in Veris Residential during the fourth quarter worth about $184,000. Van ECK Associates Corp increased its stake in shares of 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 purchasing an additional 1,378 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Veris Residential during the 3rd quarter worth approximately $263,000. KLP Kapitalforvaltning AS purchased a new stake in Veris Residential in the 4th quarter valued at approximately $274,000. Finally, Tidal Investments LLC purchased a new stake in Veris Residential in the 3rd quarter valued at approximately $397,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
VRE has been the subject of several recent research reports. Truist Financial raised their price target 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 Veris Residential from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th. Finally, Evercore ISI restated an "in-line" rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.
Get Our Latest Stock Report on Veris Residential
Veris Residential Trading Down 2.5 %
VRE traded down $0.38 during trading on Thursday, hitting $15.09. The company's stock had a trading volume of 526,193 shares, compared to its average volume of 512,841. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The stock has a market cap of $1.40 billion, a PE ratio of -88.76, a PEG ratio of 2.50 and a beta of 1.17. The firm's 50 day moving average price is $16.16 and its 200-day moving average price is $16.76. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73.
Veris Residential (NYSE:VRE - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $66.98 million. On average, analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current year.
Veris Residential Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Monday, March 31st. Veris Residential's dividend payout ratio (DPR) is -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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