Nomura Asset Management Co. Ltd. Grows Holdings in Veris Residential, Inc. (NYSE:VRE)

Nomura Asset Management Co. Ltd. increased its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 3.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,900 shares of the company’s stock after acquiring an additional 3,900 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.11% of Veris Residential worth $1,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Investment Partners LLC acquired a new stake in Veris Residential in the fourth quarter valued at approximately $184,000. Van ECK Associates Corp increased its holdings in Veris Residential by 10.2% in the 4th 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 in the last quarter. Point72 Asset Management L.P. acquired a new position in Veris Residential during the third quarter worth $263,000. KLP Kapitalforvaltning AS purchased a new position in Veris Residential during the fourth quarter valued at $274,000. Finally, Tidal Investments LLC acquired a new stake in shares of Veris Residential in the third quarter valued at about $397,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on VRE shares. Truist Financial increased their target price on Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. upgraded Veris Residential from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $17.00 in a report on Tuesday, December 17th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

Veris Residential Stock Up 0.7 %

Shares of NYSE:VRE opened at $17.12 on Thursday. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The stock has a market cap of $1.59 billion, a P/E ratio of -100.70, a PEG ratio of 2.50 and a beta of 1.24. The business has a fifty day moving average of $16.24 and a two-hundred day moving average of $16.89. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Veris Residential (NYSE:VRE) last issued its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $68.08 million for the quarter, compared to analysts’ expectations of $66.98 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. On average, research analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 1.87%. Veris Residential’s dividend payout ratio (DPR) is -133.33%.

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.