SG Americas Securities LLC Invests $7.72 Million in Veris Residential, Inc. $VRE

Key Points

• SG Americas Securities LLC bought a new stake of 518,835 shares in Veris Residential (NYSE:VRE) in Q4 valued at approximately $7.72 million, representing about 0.56% ownership.
• Veris Residential beat Q4 estimates with EPS of $0.19 versus $0.16 expected and revenue of $71.31M, and announced a quarterly dividend of $0.08 per share (annualized $0.32; yield 1.7%; ex-dividend Mar 31).
• About 93.04% of the stock is held by institutional investors, and Wall Street's consensus rating is a "Hold" with an average price target of $19.67 (current price ~ $18.95).

SG Americas Securities LLC bought a new stake in Veris Residential, Inc. (NYSE:VRE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 518,835 shares of the company's stock, valued at approximately $7,720,000. SG Americas Securities LLC owned 0.56% of Veris Residential as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Veris Residential in the 4th quarter worth approximately $212,000. GAMMA Investing LLC lifted its position in Veris Residential by 71.1% in the fourth quarter. GAMMA Investing LLC now owns 1,954 shares of the company's stock worth $29,000 after purchasing an additional 812 shares during the period. JPMorgan Chase & Co. boosted its stake in Veris Residential by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 2,374,440 shares of the company's stock worth $36,091,000 after buying an additional 501,725 shares in the last quarter. Adelante Capital Management LLC increased its holdings in Veris Residential by 1.9% in the 3rd quarter. Adelante Capital Management LLC now owns 752,225 shares of the company's stock valued at $11,434,000 after buying an additional 14,280 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Veris Residential by 2.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 194,332 shares of the company's stock worth $2,910,000 after acquiring an additional 3,870 shares during the period. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Trading Up 0.1%

Shares of VRE opened at $18.95 on Tuesday. The stock has a fifty day moving average price of $17.39 and a two-hundred day moving average price of $15.76. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 3.25 and a beta of 1.20. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.97.

Veris Residential (NYSE:VRE - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $71.31 million for the quarter, compared to the consensus estimate of $70.85 million. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. Analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Veris Residential's dividend payout ratio (DPR) is 40.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRE. Wall Street Zen cut shares of Veris Residential from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Truist Financial increased their target price on Veris Residential from $15.00 to $19.00 and gave the stock a "hold" rating in a report on Tuesday, March 24th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Veris Residential in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Veris Residential currently has a consensus rating of "Hold" and an average price target of $19.67.

About Veris Residential

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.

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