Madison International Realty Holdings LLC trimmed its position in shares of Veris Residential, Inc. (NYSE:VRE – Free Report) by 28.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,689,120 shares of the company’s stock after selling 1,500,000 shares during the quarter. Veris Residential comprises about 100.0% of Madison International Realty Holdings LLC’s portfolio, making the stock its largest holding. Madison International Realty Holdings LLC’s holdings in Veris Residential were worth $54,894,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Veris Residential by 6.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,402 shares of the company’s stock worth $956,000 after buying an additional 3,860 shares during the period. Inscription Capital LLC increased its stake in shares of Veris Residential by 26.2% during the fourth quarter. Inscription Capital LLC now owns 23,693 shares of the company’s stock worth $353,000 after buying an additional 4,919 shares during the period. UBS Group AG increased its stake in shares of Veris Residential by 31.5% during the fourth quarter. UBS Group AG now owns 269,940 shares of the company’s stock worth $4,017,000 after buying an additional 64,616 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Veris Residential by 18.1% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,896 shares of the company’s stock worth $296,000 after buying an additional 3,047 shares during the period. Finally, Vert Asset Management LLC increased its stake in shares of Veris Residential by 4.9% during the fourth quarter. Vert Asset Management LLC now owns 39,131 shares of the company’s stock worth $582,000 after buying an additional 1,813 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts recently weighed in on VRE shares. Wall Street Zen lowered shares of Veris Residential from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Citigroup increased their price target on shares of Veris Residential from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Finally, Truist Financial increased their price target on shares of Veris Residential from $15.00 to $19.00 and gave the company a “hold” rating in a research note on Tuesday, March 24th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.50.
Veris Residential Stock Performance
Shares of Veris Residential stock opened at $18.99 on Wednesday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 24.66, a P/E/G ratio of 3.15 and a beta of 1.07. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $19.03. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.10. The firm’s 50 day moving average is $18.92 and its two-hundred day moving average is $16.71.
Veris Residential (NYSE:VRE – Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.33). The company had revenue of $70.10 million during the quarter, compared to analysts’ expectations of $68.06 million. Veris Residential had a net margin of 24.30% and a return on equity of 5.34%. Research analysts forecast that Veris Residential, Inc. will post 0.78 EPS for the current fiscal year.
Veris Residential Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, March 31st. Veris Residential’s dividend payout ratio is currently 41.56%.
Veris Residential 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.
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