Bank of New York Mellon Corp grew its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 670,520 shares of the company's stock after buying an additional 15,653 shares during the quarter. Bank of New York Mellon Corp owned 0.72% of Veris Residential worth $11,151,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Veris Residential by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company's stock worth $37,557,000 after acquiring an additional 219,901 shares in the last quarter. Geode Capital Management LLC grew its stake in Veris Residential by 1.1% during the 3rd 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 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 purchasing an additional 49,378 shares during the period. Victory Capital Management Inc. raised its position in Veris Residential by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,200,470 shares of the company's stock valued at $21,440,000 after purchasing an additional 6,421 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Veris Residential by 491.8% in the 3rd 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 buying an additional 512,406 shares during the period. Hedge funds and other institutional investors own 93.04% of the company's stock.
Veris Residential Stock Performance
NYSE VRE opened at $16.00 on Friday. The company has a fifty day moving average of $16.05 and a two-hundred day moving average of $16.97. 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, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85. The company has a market capitalization of $1.49 billion, a PE ratio of -94.08, a P/E/G ratio of 2.50 and a beta of 1.24.
Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm had revenue of $68.08 million for the quarter, compared to analyst estimates of $66.98 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. As a group, analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current year.
Veris Residential Dividend Announcement
The firm 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 $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 2.00%. Veris Residential's dividend payout ratio (DPR) is -133.33%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on VRE. JPMorgan Chase & Co. upgraded shares of Veris Residential from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $14.00 to $17.00 in a research note on Tuesday, December 17th. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Finally, 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 research note on Monday.
Check Out Our Latest Analysis on Veris Residential
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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