Hsbc Holdings PLC Acquires 4,080 Shares of Veris Residential, Inc. (NYSE:VRE)

Hsbc Holdings PLC lifted its stake in Veris Residential, Inc. (NYSE:VRE) by 6.1% during the 4th quarter, Holdings Channel reports. The firm owned 71,201 shares of the company’s stock after acquiring an additional 4,080 shares during the period. Hsbc Holdings PLC’s holdings in Veris Residential were worth $1,183,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Inspire Investing LLC boosted its holdings in Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company’s stock worth $404,000 after buying an additional 1,149 shares during the last quarter. Van ECK Associates Corp grew its holdings in Veris Residential by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock valued at $247,000 after purchasing an additional 1,378 shares during the period. Covestor Ltd increased its stake in Veris Residential by 11,246.7% in the fourth quarter. Covestor Ltd now owns 1,702 shares of the company’s stock valued at $28,000 after purchasing an additional 1,687 shares in the last quarter. Sterling Capital Management LLC increased its stake in Veris Residential by 824.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company’s stock valued at $42,000 after purchasing an additional 2,243 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Veris Residential by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 49,810 shares of the company’s stock valued at $828,000 after buying an additional 2,537 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on VRE shares. Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial lifted their target price 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 Stock Up 1.9 %

Veris Residential stock opened at $16.27 on Friday. The company has a fifty day simple moving average of $16.07 and a 200 day simple moving average of $16.55. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The company has a market cap of $1.52 billion, a P/E ratio of -95.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.17.

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

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Monday, March 31st. Veris Residential’s dividend payout ratio is currently -100.00%.

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.