UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in Veris Residential, Inc. (NYSE:VRE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,698 shares of the company's stock after selling 56,907 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.60% of Veris Residential worth $9,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted 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 acquiring an additional 1,378 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Veris Residential by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company's stock worth $742,000 after purchasing an additional 1,465 shares during the last quarter. Covestor Ltd boosted its position in Veris Residential by 11,246.7% in the fourth quarter. Covestor Ltd now owns 1,702 shares of the company's stock worth $28,000 after purchasing an additional 1,687 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Veris Residential by 824.6% during 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 in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Veris Residential by 5.4% during the 4th quarter. MetLife Investment Management LLC now owns 49,810 shares of the company's stock valued at $828,000 after buying an additional 2,537 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Stock Up 0.6%

Shares of VRE stock traded up $0.09 during mid-day trading on Wednesday, hitting $15.26. The stock had a trading volume of 445,364 shares, compared to its average volume of 523,358. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $1.42 billion, a P/E ratio of -89.76, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85. The firm's 50-day moving average is $15.51 and its two-hundred day moving average is $16.22.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $67.76 million for the quarter, compared to analyst estimates of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. On average, analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, June 30th. Veris Residential's payout ratio is currently -100.00%.

Wall Street Analysts Forecast Growth

VRE has been the topic of several recent analyst reports. Truist Financial decreased 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 set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th.

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.