Swiss National Bank Acquires 19,300 Shares of Veris Residential, Inc. (NYSE:VRE)

Swiss National Bank lifted its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 13.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 164,400 shares of the company’s stock after purchasing an additional 19,300 shares during the period. Swiss National Bank’s holdings in Veris Residential were worth $2,734,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Veris Residential by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock valued at $37,557,000 after buying an additional 219,901 shares during the last quarter. Geode Capital Management LLC grew its position in Veris Residential by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company’s stock worth $35,743,000 after acquiring an additional 21,133 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Veris Residential by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,483,318 shares of the company’s stock worth $24,668,000 after purchasing an additional 12,782 shares during the period. Victory Capital Management Inc. lifted its position in Veris Residential by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,217,649 shares of the company’s stock valued at $20,250,000 after purchasing an additional 17,179 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its stake 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 purchasing an additional 332,381 shares during the period. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on VRE shares. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial boosted their price objective on shares of Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th.

Veris Residential Stock Performance

Shares of VRE stock opened at $16.70 on Friday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -98.23, a PEG ratio of 2.50 and a beta of 1.24. The stock has a fifty day moving average of $16.16 and a 200 day moving average of $16.90. Veris Residential, Inc. has a 52 week low of $13.84 and a 52 week high of $18.85. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Veris Residential (NYSE:VRE) last posted its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing the consensus estimate 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 company had revenue of $68.08 million during the quarter, compared to analysts’ expectations of $66.98 million. As a group, research analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 1.92%. Veris Residential’s payout ratio is -133.33%.

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.