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

UBS Group AG lifted its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 31.5% during the 4th quarter, HoldingsChannel reports. The fund owned 269,940 shares of the company’s stock after acquiring an additional 64,616 shares during the period. UBS Group AG’s holdings in Veris Residential were worth $4,017,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Veris Residential by 71.1% during the 4th quarter. GAMMA Investing LLC now owns 1,954 shares of the company’s stock worth $29,000 after acquiring an additional 812 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Veris Residential by 720.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock worth $32,000 after acquiring an additional 1,872 shares during the period. Covestor Ltd lifted its holdings in shares of Veris Residential by 29.0% during the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares during the period. Quarry LP increased its position in Veris Residential by 746.6% during the 3rd quarter. Quarry LP now owns 4,326 shares of the company’s stock worth $66,000 after purchasing an additional 3,815 shares in the last quarter. Finally, AlphaQuest LLC increased its position in Veris Residential by 49.5% during the 3rd quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock worth $128,000 after purchasing an additional 2,780 shares in the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on VRE shares. Truist Financial increased their target price 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. Wall Street Zen downgraded shares of Veris Residential from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Citigroup increased their target price 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. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Veris Residential presently has a consensus rating of “Hold” and a consensus price target of $19.50.

Veris Residential Stock Up 0.0%

Shares of NYSE:VRE opened at $19.00 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.10. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $19.03. The company has a 50 day moving average of $18.93 and a two-hundred day moving average of $16.79. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 3.16 and a beta of 1.07.

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

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid 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 41.56%.

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.