Cbre Investment Management Listed Real Assets LLC Acquires 64,074 Shares of Veris Residential, Inc. $VRE

Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 5.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,274,190 shares of the company’s stock after acquiring an additional 64,074 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Veris Residential were worth $19,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Veris Residential by 26.6% during the 1st quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock worth $292,000 after buying an additional 3,623 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Veris Residential by 88.8% in the first quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock valued at $911,000 after acquiring an additional 25,520 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Veris Residential by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock valued at $790,000 after acquiring an additional 2,064 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Veris Residential by 72.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock worth $17,033,000 after acquiring an additional 423,482 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Veris Residential by 234.4% during the first quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock valued at $1,926,000 after purchasing an additional 79,802 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Stock Down 0.0%

Veris Residential stock opened at $18.86 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.68 and a quick ratio of 0.68. The company’s 50-day moving average is $16.34 and its 200-day moving average is $15.47. The firm has a market capitalization of $1.76 billion, a PE ratio of 23.57, a P/E/G ratio of 3.32 and a beta of 1.21. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $18.89.

Veris Residential (NYSE:VRE) last issued its earnings results on Monday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. The business had revenue of $71.31 million during the quarter, compared to the consensus estimate of $70.85 million. Sell-side analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Veris Residential’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRE. Wall Street Zen downgraded Veris Residential from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Veris Residential presently has an average rating of “Hold” and an average target price of $18.67.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.