Invesco Ltd. Has $7.02 Million Stake in Veris Residential, Inc. (NYSE:VRE)

Invesco Ltd. raised its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 6.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,077 shares of the company's stock after acquiring an additional 26,546 shares during the quarter. Invesco Ltd. owned about 0.45% of Veris Residential worth $7,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of Veris Residential by 51.7% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company's stock valued at $16,219,000 after acquiring an additional 332,381 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Veris Residential by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock worth $211,157,000 after acquiring an additional 331,354 shares in the last quarter. Norges Bank acquired a new stake in shares of Veris Residential in the 4th quarter valued at about $4,828,000. JPMorgan Chase & Co. boosted its position in shares of Veris Residential by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company's stock worth $37,557,000 after buying an additional 219,901 shares during the period. Finally, Barclays PLC boosted its position in Veris Residential by 56.6% during the 3rd quarter. Barclays PLC now owns 320,268 shares of the company's stock worth $5,720,000 after acquiring an additional 115,713 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company's stock.

Veris Residential Stock Performance

VRE traded down $0.04 on Monday, reaching $15.46. The company had a trading volume of 532,834 shares, compared to its average volume of 515,630. The stock has a market cap of $1.44 billion, a P/E ratio of -90.94, a P/E/G ratio of 2.50 and a beta of 1.17. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The company's fifty day moving average is $16.08 and its 200 day moving average is $16.60.

Veris Residential (NYSE:VRE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $67.76 million for the quarter, compared to the consensus estimate of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. As a group, analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Monday, March 31st. Veris Residential's dividend payout ratio is currently -100.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VRE. Evercore ISI restated an "in-line" rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial raised 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.

Veris Residential Company 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.