Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Veris Residential, Inc. (NYSE:VRE – Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,842 shares of the company’s stock after purchasing an additional 5,386 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.06% of Veris Residential worth $909,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC grew its stake in Veris Residential by 131.3% in the 4th quarter. EntryPoint Capital LLC now owns 25,433 shares of the company’s stock valued at $423,000 after buying an additional 14,439 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Veris Residential by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company’s stock worth $211,157,000 after acquiring an additional 331,354 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Veris Residential in the 4th quarter valued at $606,000. KLP Kapitalforvaltning AS bought a new position in Veris Residential in the fourth quarter valued at about $274,000. Finally, Quantbot Technologies LP bought a new stake in shares of Veris Residential during the 4th quarter valued at approximately $595,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.
Veris Residential Stock Performance
Shares of VRE opened at $17.12 on Thursday. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -100.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $16.24 and its 200 day simple moving average is $16.89.
Veris Residential Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Monday, March 31st. Veris Residential’s payout ratio is -133.33%.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Truist Financial boosted their price target on Veris Residential from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th.
Read Our Latest Stock Report on Veris Residential
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.
Recommended Stories
- Five stocks we like better than Veris Residential
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Homebuilders in Freefall: Bargain Opportunity or Falling Knife?
- 5 Top Rated Dividend Stocks to Consider
- The 3 Most Talked About Investments on WallStreetBets Right Now
- What is a Stock Market Index and How Do You Use Them?
- Analyst Targets Signal More Growth in CrowdStrike Stock
Want to see what other hedge funds are holding VRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veris Residential, Inc. (NYSE:VRE – Free Report).
Receive News & Ratings for Veris Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veris Residential and related companies with MarketBeat.com's FREE daily email newsletter.