Norges Bank Makes New Investment in Veris Residential, Inc. (NYSE:VRE)

Norges Bank acquired a new position in Veris Residential, Inc. (NYSE:VRE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 290,295 shares of the company’s stock, valued at approximately $4,828,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its holdings in Veris Residential by 5,945.2% in the 3rd quarter. FMR LLC now owns 224,278 shares of the company’s stock valued at $4,006,000 after acquiring an additional 220,568 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Veris Residential during the third quarter valued at $263,000. Nomura Asset Management Co. Ltd. lifted its stake in Veris Residential by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock worth $1,786,000 after acquiring an additional 900 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Veris Residential by 1.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock worth $2,079,000 after acquiring an additional 1,220 shares during the period. Finally, Barclays PLC grew its stake in Veris Residential by 56.6% during the 3rd quarter. Barclays PLC now owns 320,268 shares of the company’s stock valued at $5,720,000 after acquiring an additional 115,713 shares in the last quarter. 93.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on VRE shares. Truist Financial lifted their price objective on Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, March 10th. 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. Finally, JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $17.00 in a research report on Tuesday, December 17th.

Veris Residential Trading Up 5.1 %

VRE opened at $15.48 on Thursday. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The stock has a market capitalization of $1.44 billion, a PE ratio of -91.05, a PEG ratio of 2.50 and a beta of 1.17. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $16.18 and a two-hundred day moving average price of $16.77.

Veris Residential (NYSE:VRE) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The firm had revenue of $68.08 million during the quarter, compared to analyst estimates of $66.98 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.07%. Veris Residential’s dividend payout ratio is -133.33%.

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.