UBS Group AG Grows Stake in Veris Residential, Inc. $VRE

UBS Group AG boosted its position in Veris Residential, Inc. (NYSE:VRE) by 31.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,940 shares of the company’s stock after purchasing an additional 64,616 shares during the period. UBS Group AG owned about 0.29% of Veris Residential worth $4,017,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd boosted its position in shares of Veris Residential by 29.0% in the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after buying an additional 736 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Veris Residential by 71.1% in the 4th quarter. GAMMA Investing LLC now owns 1,954 shares of the company’s stock worth $29,000 after buying an additional 812 shares in the last quarter. Amalgamated Bank boosted its position in shares of Veris Residential by 3.6% in the 3rd quarter. Amalgamated Bank now owns 23,892 shares of the company’s stock worth $363,000 after buying an additional 827 shares in the last quarter. Intech Investment Management LLC boosted its position in shares of Veris Residential by 2.8% in the 3rd quarter. Intech Investment Management LLC now owns 33,241 shares of the company’s stock worth $505,000 after buying an additional 905 shares in the last quarter. Finally, Caxton Associates LLP boosted its position in shares of Veris Residential by 5.5% in the 2nd quarter. Caxton Associates LLP now owns 26,507 shares of the company’s stock worth $395,000 after buying an additional 1,383 shares in the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on VRE. Citigroup boosted their price objective on shares of Veris Residential from $16.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of Veris Residential from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Truist Financial boosted their price objective on shares of Veris Residential from $15.00 to $19.00 and gave the stock a “hold” rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.50.

Veris Residential Trading Up 0.0%

Shares of VRE stock opened at $19.00 on Friday. The firm has a 50-day moving average price of $18.93 and a 200 day moving average price of $16.79. Veris Residential, Inc. has a twelve month low of $13.69 and a twelve month high of $19.03. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 3.16 and a beta of 1.07. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 1.10.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.33). The company had revenue of $70.10 million for the quarter, compared to analyst estimates of $68.06 million. Veris Residential had a net margin of 24.30% and a return on equity of 5.34%. Research analysts forecast that Veris Residential, Inc. will post 0.78 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Tuesday, March 31st. Veris Residential’s dividend payout ratio is presently 41.56%.

Veris Residential 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.