Quantbot Technologies LP Acquires New Position in Veris Residential, Inc. (NYSE:VRE)

Quantbot Technologies LP bought a new position in shares of Veris Residential, Inc. (NYSE:VRE) during the fourth quarter, Holdings Channel reports. The fund bought 35,749 shares of the company’s stock, valued at approximately $595,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Veris Residential by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock valued at $37,557,000 after buying an additional 219,901 shares during the period. Geode Capital Management LLC raised its position in Veris Residential by 1.1% in the third 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 during the period. Charles Schwab Investment Management Inc. lifted its position in Veris Residential by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,483,318 shares of the company’s stock valued at $24,668,000 after buying an additional 12,782 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Veris Residential by 1.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,217,649 shares of the company’s stock worth $20,250,000 after acquiring an additional 17,179 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC increased its holdings in 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 purchasing an additional 332,381 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Veris Residential Trading Down 0.2 %

VRE opened at $16.70 on Friday. The business has a fifty day moving average price of $16.16 and a 200 day moving average price of $16.90. 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 12 month low of $13.84 and a 12 month high of $18.85. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -98.23, a PEG ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $68.08 million for the quarter, compared to analysts’ expectations of $66.98 million. Sell-side analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.92%. The ex-dividend date is Monday, March 31st. Veris Residential’s dividend payout ratio (DPR) is presently -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.