Fox Run Management L.L.C. Takes Position in Veris Residential, Inc. (NYSE:VRE)

Fox Run Management L.L.C. acquired a new position in shares of Veris Residential, Inc. (NYSE:VRE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,414 shares of the company’s stock, valued at approximately $606,000.

Other large investors also recently made changes to their positions in the company. Cornerstone Investment Partners LLC bought a new position in Veris Residential in the fourth quarter worth approximately $184,000. Natixis Advisors LLC bought a new position in shares of Veris Residential in the 3rd quarter worth $203,000. Van ECK Associates Corp grew its position in Veris Residential by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock valued at $247,000 after purchasing an additional 1,378 shares during the period. Point72 Asset Management L.P. bought a new stake in Veris Residential during the 3rd quarter valued at $263,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Veris Residential during the fourth quarter worth $274,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Price Performance

Veris Residential stock opened at $16.65 on Tuesday. The stock has a market cap of $1.55 billion, a P/E ratio of -97.93, a P/E/G ratio of 2.50 and a beta of 1.24. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The company’s 50 day moving average price is $16.12 and its two-hundred day moving average price is $16.91. Veris Residential, Inc. has a 52 week low of $13.84 and a 52 week high of $18.85.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $68.08 million during 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, equities analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.92%. Veris Residential’s dividend payout ratio (DPR) is presently -133.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th. Truist Financial increased their price objective on Veris Residential from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, March 10th. 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 research report on Wednesday, February 26th.

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.