Universal Beteiligungs und Servicegesellschaft mbH Makes New $611,000 Investment in Veris Residential, Inc. (NYSE:VRE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 36,099 shares of Veris Residential, valued at approximately $611,000, marking a significant investment in the company's stock.
• Institutional investors hold 93.04% of the company's stock, with several firms significantly increasing their positions in the fourth quarter.
• Current analyst ratings for Veris Residential reflect a consensus of "Hold" with an average price target of $19.20, despite Truist Financial lowering their previous price target to $16.00.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 36,099 shares of the company's stock, valued at approximately $611,000.

Several other large investors also recently added to or reduced their stakes in VRE. Exchange Traded Concepts LLC purchased a new stake in Veris Residential during the first quarter worth about $810,000. Raymond James Financial Inc. acquired a new position in shares of Veris Residential in the fourth quarter worth $1,737,000. New York State Common Retirement Fund raised its holdings in shares of Veris Residential by 13.8% in the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock worth $419,000 after acquiring an additional 3,000 shares during the last quarter. GAMMA Investing LLC increased its stake in Veris Residential by 1,629.2% in the first quarter. GAMMA Investing LLC now owns 22,808 shares of the company's stock valued at $386,000 after purchasing an additional 21,489 shares during the last quarter. Finally, Man Group plc acquired a new stake in Veris Residential during the fourth quarter worth about $851,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VRE shares. Wall Street Zen raised Veris Residential from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Truist Financial decreased their target price on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research report on Monday, May 5th. BTIG Research decreased their target price on Veris Residential from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their price target on Veris Residential from $17.50 to $18.00 and gave the company an "in-line" rating in a report on Friday, July 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Veris Residential has an average rating of "Hold" and an average price target of $19.20.

Veris Residential Stock Performance

Veris Residential stock traded down $0.25 during midday trading on Friday, reaching $13.83. 666,034 shares of the company's stock were exchanged, compared to its average volume of 530,827. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $18.85. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -60.13, a P/E/G ratio of 2.15 and a beta of 1.24. The stock's 50-day simple moving average is $14.78 and its 200 day simple moving average is $15.52. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.61 and a current ratio of 0.61.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $75.93 million during the quarter, compared to analysts' expectations of $69.06 million. Veris Residential had a negative return on equity of 1.89% and a negative net margin of 7.84%. On average, analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 30th. Veris Residential's dividend payout ratio is -139.13%.

Veris Residential 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.