Axa S.A. Acquires 64,772 Shares of Veris Residential, Inc. (NYSE:VRE)

AXA S.A. boosted its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 613,908 shares of the company's stock after purchasing an additional 64,772 shares during the quarter. AXA S.A. owned approximately 0.66% of Veris Residential worth $10,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Covestor Ltd lifted 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 worth $28,000 after buying an additional 1,687 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Veris Residential by 824.6% during the fourth 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 period. Cornerstone Investment Partners LLC purchased a new stake in Veris Residential in the fourth quarter worth $184,000. Jump Financial LLC purchased a new stake in Veris Residential in the fourth quarter worth $205,000. Finally, Van ECK Associates Corp grew its stake in Veris Residential by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after purchasing an additional 1,378 shares during the period. Institutional investors own 93.04% of the company's stock.

Analysts Set New Price Targets

VRE has been the topic of a number of recent research reports. Truist Financial cut their target price on Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note 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 Stock Performance

VRE traded down $0.09 during midday trading on Friday, reaching $15.54. The company had a trading volume of 440,011 shares, compared to its average volume of 521,216. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85. The business has a 50-day moving average of $15.97 and a two-hundred day moving average of $16.48. The company 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.

Veris Residential (NYSE:VRE - Get Free Report) last released its 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 firm had revenue of $67.76 million during the quarter, compared to analysts' expectations of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. As a group, equities research analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

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

Veris Residential Company 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.