Universal Beteiligungs und Servicegesellschaft mbH Invests $611,000 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 bought a new position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,099 shares of the company's stock, valued at approximately $611,000.

Several other hedge funds have also bought and sold shares of VRE. Vanguard Group Inc. increased its holdings in shares of Veris Residential by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock worth $211,157,000 after buying an additional 331,354 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Veris Residential by 2.6% during the fourth quarter. Nuveen Asset Management LLC now owns 2,149,233 shares of the company's stock valued at $35,742,000 after acquiring an additional 53,564 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Veris Residential by 1.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,124,570 shares of the company's stock valued at $35,332,000 after buying an additional 21,713 shares during the period. Millennium Management LLC boosted its stake in shares of Veris Residential by 10.5% during the fourth quarter. Millennium Management LLC now owns 2,024,921 shares of the company's stock valued at $33,674,000 after purchasing an additional 192,116 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Veris Residential by 49.1% in the fourth quarter. Northern Trust Corp now owns 1,524,968 shares of the company's stock worth $25,360,000 after purchasing an additional 501,867 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial decreased their price target 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. Wall Street Zen raised shares of Veris Residential from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. BTIG Research lowered their price target on Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Finally, Evercore ISI increased their price objective 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 given a buy rating to the company. According to data from MarketBeat, Veris Residential currently has an average rating of "Hold" and an average target price of $19.20.

Veris Residential Stock Performance

Shares of VRE stock traded down $0.19 during trading hours on Wednesday, reaching $14.12. The company had a trading volume of 103,418 shares, compared to its average volume of 494,191. The firm has a market cap of $1.32 billion, a PE ratio of -61.41, a price-to-earnings-growth ratio of 2.19 and a beta of 1.24. Veris Residential, Inc. has a one year low of $13.69 and a one year high of $18.85. The business has a fifty day moving average price of $14.76 and a 200-day moving average price of $15.50. 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 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.89%. The firm had revenue of $75.93 million during the quarter, compared to analysts' expectations of $69.06 million. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Monday, June 30th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.3%. Veris Residential's dividend payout ratio is -139.13%.

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.