JPMorgan Chase & Co. Has $36.09 Million Position in Veris Residential, Inc. $VRE

JPMorgan Chase & Co. raised its position in Veris Residential, Inc. (NYSE:VRE) by 26.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,374,440 shares of the company’s stock after purchasing an additional 501,725 shares during the period. JPMorgan Chase & Co.’s holdings in Veris Residential were worth $36,091,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its holdings in shares of Veris Residential by 138.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,068,102 shares of the company’s stock valued at $15,904,000 after buying an additional 620,708 shares during the period. Prudential Financial Inc. grew its stake in Veris Residential by 9.3% in the second quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company’s stock valued at $74,137,000 after acquiring an additional 423,683 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Veris Residential by 72.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock worth $17,033,000 after acquiring an additional 423,482 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Veris Residential by 62.7% during the second quarter. Qube Research & Technologies Ltd now owns 991,419 shares of the company’s stock worth $14,762,000 after purchasing an additional 382,040 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Veris Residential by 54.8% during the second quarter. Legal & General Group Plc now owns 837,050 shares of the company’s stock worth $12,464,000 after purchasing an additional 296,265 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on VRE. Wall Street Zen downgraded shares of Veris Residential from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Veris Residential presently has an average rating of “Hold” and a consensus price target of $18.67.

Veris Residential Trading Up 0.1%

Shares of NYSE:VRE opened at $18.86 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.53 and a current ratio of 0.68. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.89. The company has a 50-day simple moving average of $15.70 and a 200 day simple moving average of $15.21. The company has a market capitalization of $1.76 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.80 and a beta of 1.26.

Veris Residential (NYSE:VRE) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Veris Residential had a return on equity of 5.73% and a net margin of 26.08%.The business had revenue of $71.31 million for the quarter, compared to analysts’ expectations of $70.85 million. Sell-side analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.