BNP Paribas Financial Markets Buys 5,003 Shares of Veris Residential, Inc. (NYSE:VRE)

BNP Paribas Financial Markets increased its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 28.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,341 shares of the company’s stock after acquiring an additional 5,003 shares during the quarter. BNP Paribas Financial Markets’ holdings in Veris Residential were worth $372,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its holdings 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 purchasing an additional 115,713 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Veris Residential by 5.0% in 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 in the last quarter. Vert Asset Management LLC lifted its position in shares of Veris Residential by 15.8% in the fourth quarter. Vert Asset Management LLC now owns 36,688 shares of the company’s stock worth $610,000 after buying an additional 4,998 shares in the last quarter. abrdn plc boosted its stake in Veris Residential by 90.3% during the fourth quarter. abrdn plc now owns 29,821 shares of the company’s stock valued at $490,000 after buying an additional 14,150 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Veris Residential by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock valued at $247,000 after buying an additional 1,378 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price objective (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial reduced their price target on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, May 5th.

Veris Residential Trading Down 1.3%

VRE opened at $14.59 on Monday. The stock has a 50-day moving average of $15.75 and a 200 day moving average of $16.37. 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 12 month low of $13.84 and a 12 month high of $18.85. The firm has a market cap of $1.36 billion, a P/E ratio of -85.79, a P/E/G ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE) last announced its earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $67.76 million during the quarter, compared to analysts’ expectations of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. As a group, research analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Monday, March 31st. Veris Residential’s payout ratio is -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.