Veris Residential, Inc. (NYSE:VRE) Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON trimmed its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,114 shares of the company’s stock after selling 7,280 shares during the period. BROOKFIELD Corp ON owned approximately 0.27% of Veris Residential worth $4,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of VRE. Vanguard Group Inc. raised its holdings in shares of Veris Residential by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company’s stock worth $211,157,000 after purchasing an additional 331,354 shares during the last quarter. JPMorgan Chase & Co. grew its position in Veris Residential by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,124,570 shares of the company’s stock worth $35,332,000 after purchasing an additional 21,713 shares during the period. Northern Trust Corp raised its stake in shares of Veris Residential by 49.1% during the 4th quarter. Northern Trust Corp now owns 1,524,968 shares of the company’s stock valued at $25,360,000 after buying an additional 501,867 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $24,668,000 after buying an additional 12,782 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Veris Residential by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,217,649 shares of the company’s stock worth $20,250,000 after buying an additional 17,179 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Truist Financial reduced their price target on Veris Residential from $17.00 to $16.00 and set a “hold” rating for the company in a research report on Monday. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

Veris Residential Price Performance

Veris Residential stock opened at $15.89 on Tuesday. 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 company’s fifty day moving average price is $16.06 and its 200 day moving average price is $16.53. The stock has a market capitalization of $1.48 billion, a P/E ratio of -93.47, a P/E/G ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, beating 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 business had revenue of $67.76 million for the quarter, compared to the consensus estimate of $69.24 million. As a group, equities research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently announced 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 2.01%. The ex-dividend date was Monday, March 31st. Veris Residential’s payout ratio is -100.00%.

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.