Nisa Investment Advisors LLC Sells 1,856 Shares of Veris Residential, Inc. (NYSE:VRE)

Nisa Investment Advisors LLC trimmed its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,586 shares of the company’s stock after selling 1,856 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Veris Residential were worth $384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in VRE. Charles Schwab Investment Management Inc. raised its position in shares of Veris Residential by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,483,318 shares of the company’s stock worth $24,668,000 after acquiring an additional 12,782 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Veris Residential during the fourth quarter worth about $1,737,000. Amundi raised its position in shares of Veris Residential by 43.3% during the fourth quarter. Amundi now owns 81,250 shares of the company’s stock worth $1,272,000 after acquiring an additional 24,570 shares during the last quarter. Swiss National Bank increased its holdings in Veris Residential by 13.3% in the fourth quarter. Swiss National Bank now owns 164,400 shares of the company’s stock worth $2,734,000 after purchasing an additional 19,300 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Veris Residential by 37.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,643 shares of the company’s stock worth $709,000 after purchasing an additional 11,588 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Veris Residential from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. Truist Financial lowered their target price on Veris Residential from $17.00 to $16.00 and set a “hold” rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.50.

Veris Residential Trading Up 1.1%

Shares of Veris Residential stock opened at $14.69 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.56 and a current ratio of 0.56. Veris Residential, Inc. has a 52 week low of $14.12 and a 52 week high of $18.85. The stock has a 50 day moving average price of $15.00 and a two-hundred day moving average price of $15.66. The stock has a market capitalization of $1.37 billion, a PE ratio of -45.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21.

Veris Residential (NYSE:VRE) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Veris Residential had a negative return on equity of 2.62% and a negative net margin of 11.02%. The firm had revenue of $67.76 million during the quarter, compared to analysts’ expectations of $69.24 million. As a group, equities analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Monday, June 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.18%. 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.