Veris Residential, Inc. (NYSE:VRE) Shares Acquired by Axa S.A.

AXA S.A. increased its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,908 shares of the company's stock after acquiring an additional 64,772 shares during the quarter. AXA S.A. owned approximately 0.66% of Veris Residential worth $10,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VRE. Covestor Ltd increased its position in 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 grew its position in Veris Residential by 824.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock valued at $42,000 after buying an additional 2,243 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new position in Veris Residential in the 4th quarter valued at $184,000. Jump Financial LLC acquired a new stake in shares of Veris Residential in the 4th quarter worth $205,000. Finally, Van ECK Associates Corp increased 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 acquiring an additional 1,378 shares during the period. 93.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VRE shares. Truist Financial cut their target price on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Monday. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price target (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th.

Veris Residential Price Performance

NYSE:VRE traded down $0.09 during trading hours on Friday, reaching $15.54. 440,011 shares of the company traded hands, compared to its average volume of 520,185. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The stock has a market cap of $1.45 billion, a P/E ratio of -91.41, a P/E/G ratio of 2.50 and a beta of 1.24. The firm's 50-day moving average is $16.00 and its 200-day moving average is $16.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $67.76 million for the quarter, compared to analysts' expectations of $69.24 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. Equities research analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

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

About Veris Residential

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.