Raymond James Financial Inc. Purchases New Shares in Veris Residential, Inc. (NYSE:VRE)

Raymond James Financial Inc. purchased a new stake in shares of Veris Residential, Inc. (NYSE:VRE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 104,458 shares of the company’s stock, valued at approximately $1,737,000. Raymond James Financial Inc. owned about 0.11% of Veris Residential at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC increased its position in shares of 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 during the last quarter. Vanguard Group Inc. increased its holdings in Veris Residential by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company’s stock worth $211,157,000 after buying an additional 331,354 shares during the last quarter. Norges Bank bought a new stake in Veris Residential in the fourth quarter worth about $4,828,000. JPMorgan Chase & Co. boosted its stake in Veris Residential by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock valued at $37,557,000 after acquiring an additional 219,901 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Veris Residential by 56.6% during the 3rd quarter. Barclays PLC now owns 320,268 shares of the company’s stock valued at $5,720,000 after acquiring an additional 115,713 shares during the period. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Performance

Shares of VRE stock opened at $15.97 on Friday. Veris Residential, Inc. has a 12 month low of $13.84 and a 12 month high of $18.85. The firm’s 50 day moving average is $16.07 and its 200 day moving average is $16.56. 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 stock has a market capitalization of $1.49 billion, a P/E ratio of -93.91, a PEG ratio of 2.50 and a beta of 1.17.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $67.76 million during the quarter, compared to analyst estimates of $69.24 million. On average, sell-side analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a $0.08 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.00%. Veris Residential’s payout ratio is -100.00%.

Analyst Upgrades and Downgrades

VRE has been the topic of a number of research reports. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial boosted their target price on Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 10th.

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.