Veris Residential, Inc. (NYSE:VRE) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in Veris Residential, Inc. (NYSE:VRE) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,786 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Veris Residential were worth $419,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Veris Residential in the fourth quarter valued at approximately $25,000. Covestor Ltd grew its position in shares of Veris Residential by 11,246.7% in the fourth quarter. Covestor Ltd now owns 1,702 shares of the company’s stock valued at $28,000 after purchasing an additional 1,687 shares during the last quarter. Sterling Capital Management LLC grew 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 valued at $42,000 after purchasing an additional 2,243 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Veris Residential in the fourth quarter valued at approximately $45,000. Finally, State of Wyoming acquired a new stake in shares of Veris Residential in the fourth quarter valued at approximately $52,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Stock Performance

Shares of VRE opened at $14.65 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.56 and a current ratio of 0.61. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -63.67, a PEG ratio of 1.57 and a beta of 1.21. Veris Residential, Inc. has a 1 year low of $14.12 and a 1 year high of $18.85. The company’s 50 day simple moving average is $14.87 and its 200 day simple moving average is $15.58.

Veris Residential (NYSE:VRE) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $75.93 million for the quarter, compared to the consensus estimate of $69.06 million. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.89%. On average, sell-side analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, June 30th. Veris Residential’s dividend payout ratio is currently -100.00%.

Analyst Ratings Changes

VRE has been the topic of several research reports. BTIG Research lowered their price target on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI upped their price objective on shares of Veris Residential from $17.50 to $18.00 and gave the company an “in-line” rating in a research note on Friday. Wall Street Zen raised shares of Veris Residential from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial reduced their price objective on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Veris Residential currently has a consensus rating of “Hold” and a consensus target price of $19.20.

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.