Barclays PLC Reduces Stock Holdings in Veris Residential, Inc. (NYSE:VRE)

Barclays PLC reduced its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 22.8% during the fourth quarter, Holdings Channel reports. The firm owned 247,153 shares of the company’s stock after selling 73,115 shares during the quarter. Barclays PLC’s holdings in Veris Residential were worth $4,111,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Veris Residential by 51.7% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company’s stock valued at $16,219,000 after buying an additional 332,381 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Veris Residential by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock worth $37,557,000 after acquiring an additional 219,901 shares during the period. Raymond James Financial Inc. bought a new position in shares of Veris Residential in the 4th quarter worth approximately $1,737,000. Asset Management One Co. Ltd. lifted its stake in shares of Veris Residential by 5.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company’s stock valued at $2,009,000 after purchasing an additional 6,287 shares during the period. Finally, abrdn plc boosted its position in shares of Veris Residential by 90.3% during the fourth quarter. abrdn plc now owns 29,821 shares of the company’s stock valued at $490,000 after purchasing an additional 14,150 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on VRE shares. Truist Financial raised 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 set a $18.00 price target (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th.

Veris Residential Stock Down 1.9 %

Shares of NYSE:VRE opened at $15.50 on Monday. 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 stock has a fifty day simple moving average of $16.08 and a two-hundred day simple moving average of $16.60. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -91.17, a PEG ratio of 2.50 and a beta of 1.17.

Veris Residential (NYSE:VRE) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The firm had revenue of $67.76 million during the quarter, compared to analyst estimates of $69.24 million. On average, research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Monday, March 31st. Veris Residential’s payout ratio is -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.