Veris Residential, Inc. (NYSE:VRE) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Veris Residential, Inc. (NYSE:VRE) by 37.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 42,643 shares of the company’s stock after buying an additional 11,588 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Veris Residential were worth $709,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of VRE. Adelante Capital Management LLC acquired a new stake in shares of Veris Residential in the 3rd quarter worth approximately $11,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 worth $11,013,000 after purchasing an additional 512,406 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in Veris Residential by 51.7% during 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 purchasing an additional 332,381 shares in the last quarter. Brookfield Corp ON acquired a new position in shares of Veris Residential during the 3rd quarter valued at $4,561,000. Finally, FMR LLC raised its stake in shares of Veris Residential by 5,945.2% in the 3rd quarter. FMR LLC now owns 224,278 shares of the company’s stock worth $4,006,000 after buying an additional 220,568 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial raised their price objective on shares of 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. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th.

Veris Residential Trading Up 0.9 %

Shares of NYSE VRE opened at $16.74 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 12 month low of $13.84 and a 12 month high of $18.85. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -98.44, a P/E/G ratio of 2.50 and a beta of 1.24. The business has a fifty day simple moving average of $16.14 and a 200-day simple moving average of $16.91.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $68.08 million for the quarter, compared to analysts’ expectations of $66.98 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. Sell-side analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders 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 1.91%. The ex-dividend date of this dividend is Monday, March 31st. Veris Residential’s payout ratio is -133.33%.

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.