Handelsbanken Fonder AB Boosts Holdings in Veris Residential, Inc. (NYSE:VRE)

Handelsbanken Fonder AB grew its position in shares of Veris Residential, Inc. (NYSE:VRE) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,857 shares of the company’s stock after purchasing an additional 3,400 shares during the period. Handelsbanken Fonder AB’s holdings in Veris Residential were worth $539,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Veris Residential by 10.2% during the fourth 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Veris Residential by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company’s stock valued at $742,000 after acquiring an additional 1,465 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Veris Residential during the 4th quarter valued at about $25,000. Covestor Ltd grew its holdings in shares of Veris Residential by 11,246.7% during the fourth quarter. Covestor Ltd now owns 1,702 shares of the company’s stock worth $28,000 after purchasing an additional 1,687 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Veris Residential by 824.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company’s stock worth $42,000 after purchasing an additional 2,243 shares during the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRE has been the subject of a number of research reports. Evercore ISI reissued 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 cut their target price on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, May 5th.

Veris Residential Stock Down 2.5%

Shares of NYSE VRE opened at $14.90 on Monday. The stock has a market capitalization of $1.39 billion, a P/E ratio of -87.64, a PEG ratio of 2.50 and a beta of 1.23. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85. The firm’s 50 day simple moving average is $15.36 and its two-hundred day simple moving average is $16.04. 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 (NYSE:VRE) last released its earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $67.76 million for the quarter, compared to analyst estimates 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, analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.15%. Veris Residential’s dividend payout ratio is currently -100.00%.

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.