California State Teachers Retirement System Buys 7,276 Shares of Veris Residential, Inc. (NYSE:VRE)

California State Teachers Retirement System boosted its stake in Veris Residential, Inc. (NYSE:VRE) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,804 shares of the company’s stock after purchasing an additional 7,276 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Veris Residential worth $1,294,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. abrdn plc grew its position in shares of Veris Residential by 90.3% during the 4th quarter. abrdn plc now owns 29,821 shares of the company’s stock valued at $490,000 after acquiring an additional 14,150 shares during the period. Van ECK Associates Corp boosted its holdings in Veris Residential by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock worth $247,000 after buying an additional 1,378 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Veris Residential by 5.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company’s stock worth $2,009,000 after buying an additional 6,287 shares during the period. Rhumbline Advisers boosted its holdings in Veris Residential by 1.7% in the 4th quarter. Rhumbline Advisers now owns 265,115 shares of the company’s stock worth $4,409,000 after buying an additional 4,422 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Veris Residential by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 391,831 shares of the company’s stock worth $6,516,000 after purchasing an additional 11,238 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Veris Residential Price Performance

Shares of VRE stock opened at $15.19 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.42 billion, a P/E ratio of -89.35, a P/E/G ratio of 2.50 and a beta of 1.23. The company’s 50-day simple moving average is $15.40 and its two-hundred day simple moving average is $16.12. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85.

Veris Residential (NYSE:VRE) last issued 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 business had revenue of $67.76 million for the quarter, compared to the consensus estimate of $69.24 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. As a group, equities analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.11%. Veris Residential’s dividend payout ratio is presently -100.00%.

Analyst Ratings Changes

Several analysts have commented on VRE shares. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial decreased their target price 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 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.