SG Americas Securities LLC Buys Shares of 518,835 Veris Residential, Inc. $VRE

SG Americas Securities LLC acquired a new stake in Veris Residential, Inc. (NYSE:VRE) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 518,835 shares of the company’s stock, valued at approximately $7,720,000.

Several other institutional investors also recently modified their holdings of VRE. Centerpoint Advisors LLC acquired a new position in Veris Residential during the third quarter valued at approximately $1,110,000. APG Asset Management US Inc. grew its stake in Veris Residential by 107.1% in the third quarter. APG Asset Management US Inc. now owns 696,155 shares of the company’s stock valued at $10,463,000 after acquiring an additional 360,031 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Veris Residential by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 2,374,440 shares of the company’s stock worth $36,091,000 after acquiring an additional 501,725 shares in the last quarter. DigitalBridge Group Inc. grew its position in shares of Veris Residential by 16.0% in the 2nd quarter. DigitalBridge Group Inc. now owns 818,694 shares of the company’s stock valued at $12,190,000 after purchasing an additional 112,700 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Veris Residential by 11.6% in the second quarter. Daiwa Securities Group Inc. now owns 490,403 shares of the company’s stock valued at $7,302,000 after buying an additional 50,924 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Stock Performance

Shares of VRE stock opened at $18.95 on Tuesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.68 and a quick ratio of 0.68. The company has a fifty day moving average price of $17.39 and a two-hundred day moving average price of $15.76. The stock has a market cap of $1.77 billion, a P/E ratio of 23.68, a P/E/G ratio of 3.25 and a beta of 1.20. Veris Residential, Inc. has a one year low of $13.69 and a one year high of $18.97.

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

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. Veris Residential’s dividend payout ratio is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. Truist Financial lifted their price objective on shares of Veris Residential from $15.00 to $19.00 and gave the company a “hold” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen cut shares of Veris Residential from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Veris Residential currently has a consensus rating of “Hold” and a consensus target price of $19.67.

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.