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

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Veris Residential, Inc. (NYSE:VRE) by 37.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,643 shares of the company’s stock after purchasing an additional 11,588 shares during the period. 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.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Veris Residential by 51.7% during the fourth 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 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 valued at $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 last quarter. JPMorgan Chase & Co. raised its position in shares of Veris Residential by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock valued at $37,557,000 after purchasing an additional 219,901 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Veris Residential by 5.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company’s stock valued at $2,009,000 after buying an additional 6,287 shares during the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Veris Residential Stock Up 0.9 %

Shares of NYSE:VRE opened at $16.74 on Thursday. The company’s fifty day moving average is $16.14 and its two-hundred day moving average is $16.91. 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 1-year low of $13.84 and a 1-year high of $18.85. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -98.44, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE) last released its quarterly earnings data 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 analyst estimates of $66.98 million. Equities analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.91%. Veris Residential’s payout ratio is currently -133.33%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VRE shares. JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $17.00 in a report on Tuesday, December 17th. Truist Financial increased their price target on shares of Veris Residential from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, March 10th. Finally, Evercore ISI reissued an “in-line” rating and issued a $18.00 price objective (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

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.