Madison International Realty Holdings LLC Increases Stake in Veris Residential, Inc. (NYSE:VRE)

Madison International Realty Holdings LLC lifted its holdings in Veris Residential, Inc. (NYSE:VRE) by 0.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,114,434 shares of the company’s stock after buying an additional 6,773 shares during the quarter. Veris Residential comprises 57.2% of Madison International Realty Holdings LLC’s portfolio, making the stock its biggest holding. Madison International Realty Holdings LLC owned about 6.58% of Veris Residential worth $101,683,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of Veris Residential by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock valued at $1,786,000 after purchasing an additional 900 shares during the last quarter. Inspire Investing LLC grew its holdings in Veris Residential by 5.0% during the 4th quarter. Inspire Investing LLC now owns 24,297 shares of the company’s stock worth $404,000 after acquiring an additional 1,149 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Veris Residential by 1.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock valued at $2,079,000 after acquiring an additional 1,220 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Veris Residential by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock valued at $247,000 after purchasing an additional 1,378 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Veris Residential by 6.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 44,888 shares of the company’s stock worth $746,000 after purchasing an additional 2,791 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Analysts Set New Price Targets

VRE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Veris Residential from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th. Truist Financial boosted their price target on shares of Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a report on Monday, March 10th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th.

Veris Residential Stock Up 0.9 %

VRE stock opened at $16.74 on Thursday. 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 stock has a market capitalization of $1.56 billion, a P/E ratio of -98.44, a P/E/G ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The business has a 50-day moving average of $16.14 and a 200-day moving average of $16.91.

Veris Residential (NYSE:VRE) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. The business had revenue of $68.08 million during the quarter, compared to the consensus estimate of $66.98 million. On average, sell-side analysts anticipate 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 will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 31st. Veris Residential’s payout ratio is presently -133.33%.

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.