Vert Asset Management LLC Boosts Holdings in Veris Residential, Inc. (NYSE:VRE)

Vert Asset Management LLC grew its position in Veris Residential, Inc. (NYSE:VRE) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,688 shares of the company’s stock after purchasing an additional 4,998 shares during the quarter. Vert Asset Management LLC’s holdings in Veris Residential were worth $610,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in VRE. JPMorgan Chase & Co. boosted 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 worth $37,557,000 after purchasing an additional 219,901 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Veris Residential by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company’s stock worth $35,743,000 after acquiring an additional 21,133 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Veris Residential by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,470,536 shares of the company’s stock valued at $26,264,000 after acquiring an additional 49,378 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Veris Residential by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,200,470 shares of the company’s stock valued at $21,440,000 after purchasing an additional 6,421 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Veris Residential by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,843 shares of the company’s stock worth $17,217,000 after purchasing an additional 65,180 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Price Performance

Shares of NYSE:VRE opened at $16.12 on Tuesday. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.50 billion, a PE ratio of -94.79, a price-to-earnings-growth ratio of 2.49 and a beta of 1.28. The company’s 50 day moving average is $16.93 and its 200 day moving average is $16.94.

Veris Residential (NYSE:VRE) last issued its earnings results on Wednesday, October 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.22). Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The business had revenue of $68.18 million for the quarter, compared to analysts’ expectations of $68.24 million. During the same period last year, the business earned $0.12 EPS. On average, sell-side analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $0.08 dividend. This is an increase from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.99%. Veris Residential’s dividend payout ratio is presently -188.24%.

Wall Street Analysts Forecast Growth

VRE has been the topic of several research analyst reports. JPMorgan Chase & Co. raised 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 research report on Tuesday, December 17th. Bank of America raised shares of Veris Residential from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a report on Tuesday, November 12th.

Veris Residential 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.