Veris Residential, Inc. $VRE Stock Holdings Reduced by Argosy Lionbridge Management LLC

Argosy Lionbridge Management LLC trimmed its position in shares of Veris Residential, Inc. (NYSE:VRE) by 58.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,413 shares of the company’s stock after selling 372,132 shares during the period. Veris Residential accounts for approximately 2.7% of Argosy Lionbridge Management LLC’s portfolio, making the stock its 10th largest holding. Argosy Lionbridge Management LLC’s holdings in Veris Residential were worth $4,034,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of VRE. Madison International Realty Holdings LLC bought a new stake in shares of Veris Residential in the third quarter valued at $78,875,000. Prudential Financial Inc. grew its stake in shares of Veris Residential by 9.3% during the 2nd quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company’s stock worth $74,137,000 after acquiring an additional 423,683 shares during the period. State Street Corp increased its holdings in Veris Residential by 2.5% in the 2nd quarter. State Street Corp now owns 4,729,420 shares of the company’s stock worth $70,790,000 after acquiring an additional 115,670 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Veris Residential by 26.8% in the 3rd 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 during the last quarter. Finally, Geode Capital Management LLC raised its stake in Veris Residential by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,062,170 shares of the company’s stock valued at $30,709,000 after acquiring an additional 19,919 shares during the period. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Price Performance

Shares of NYSE VRE opened at $18.88 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.68 and a current ratio of 0.68. Veris Residential, Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $18.89. The stock has a market cap of $1.76 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 3.32 and a beta of 1.21. The stock has a fifty day moving average of $16.50 and a 200-day moving average of $15.52.

Veris Residential (NYSE:VRE) last issued its earnings results on Monday, February 23rd. The company reported $0.19 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $70.85 million. Equities research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. Wall Street Zen lowered shares of Veris Residential from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.67.

About Veris Residential

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.