Veris Residential, Inc. (NYSE:VRE) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its stake in Veris Residential, Inc. (NYSE:VRE) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 449,712 shares of the company’s stock after acquiring an additional 22,937 shares during the period. Deutsche Bank AG owned 0.48% of Veris Residential worth $7,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Covestor Ltd increased its holdings in shares of Veris Residential by 11,246.7% in the 4th quarter. Covestor Ltd now owns 1,702 shares of the company’s stock valued at $28,000 after acquiring an additional 1,687 shares during the period. Sterling Capital Management LLC increased its stake in Veris Residential by 824.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company’s stock valued at $42,000 after purchasing an additional 2,243 shares during the period. Cornerstone Investment Partners LLC acquired a new position in Veris Residential in the fourth quarter valued at $184,000. Jump Financial LLC purchased a new stake in shares of Veris Residential in the fourth quarter valued at about $205,000. Finally, Van ECK Associates Corp boosted its stake in shares of Veris Residential by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock worth $247,000 after buying an additional 1,378 shares during the period. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Stock Up 0.3%

Shares of NYSE:VRE opened at $15.56 on Friday. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two 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. The firm’s 50-day simple moving average is $15.86 and its 200-day simple moving average is $16.43. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -91.54, a PEG ratio of 2.50 and a beta of 1.24.

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

Veris Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, March 31st. Veris Residential’s payout ratio is -100.00%.

Wall Street Analyst Weigh In

VRE has been the topic of several recent research reports. Truist Financial dropped their price target on Veris Residential from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, May 5th. Evercore ISI reissued an “in-line” rating and issued a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

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.