Veris Residential, Inc. (NYSE:VRE) Stock Position Lifted by Invesco Ltd.

Invesco Ltd. increased its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,077 shares of the company's stock after buying an additional 26,546 shares during the period. Invesco Ltd. owned about 0.45% of Veris Residential worth $7,019,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Veris Residential by 56.6% in the 3rd quarter. Barclays PLC now owns 320,268 shares of the company's stock worth $5,720,000 after purchasing an additional 115,713 shares during the last quarter. Geode Capital Management LLC grew its stake in Veris Residential by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company's stock worth $35,743,000 after purchasing an additional 21,133 shares in the last quarter. Tidal Investments LLC bought a new stake in Veris Residential in the third quarter valued at about $397,000. JPMorgan Chase & Co. increased its holdings in Veris Residential by 11.7% in the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company's stock valued at $37,557,000 after buying an additional 219,901 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock valued at $404,000 after buying an additional 1,149 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VRE shares. Truist Financial boosted their price target on Veris Residential from $16.00 to $17.00 and gave the company a "hold" rating in a report on Monday, March 10th. Evercore ISI reiterated an "in-line" rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th.

Veris Residential Stock Performance

Shares of Veris Residential stock traded up $0.19 on Wednesday, reaching $15.53. 918,210 shares of the company were exchanged, compared to its average volume of 519,571. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -91.35, a P/E/G ratio of 2.50 and a beta of 1.17. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The company's 50-day moving average is $16.07 and its two-hundred day moving average is $16.57.

Veris Residential (NYSE:VRE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $67.76 million for 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, research analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

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

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.