Texas Permanent School Fund Corp Has $1.12 Million Stock Position in Veris Residential, Inc. (NYSE:VRE)

Texas Permanent School Fund Corp grew its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,565 shares of the company’s stock after purchasing an additional 4,388 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Veris Residential worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its position in shares of Veris Residential by 1,983.4% during the first quarter. Daiwa Securities Group Inc. now owns 507,104 shares of the company’s stock worth $7,713,000 after acquiring an additional 482,764 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Veris Residential during the fourth quarter worth about $2,956,000. Tidal Investments LLC grew its position in Veris Residential by 268.8% in the 1st quarter. Tidal Investments LLC now owns 50,959 shares of the company’s stock worth $775,000 after purchasing an additional 37,141 shares in the last quarter. Easterly Investment Partners LLC bought a new stake in Veris Residential in the 1st quarter worth about $1,651,000. Finally, Van ECK Associates Corp grew its position in Veris Residential by 5.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,011 shares of the company’s stock worth $180,000 after purchasing an additional 663 shares in the last quarter. 93.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on VRE shares. JPMorgan Chase & Co. upped their price objective on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, September 16th. Evercore ISI upped their price objective on shares of Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Finally, Truist Financial reduced their price objective on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, June 24th.

Veris Residential Stock Down 0.9 %

Veris Residential stock opened at $17.76 on Friday. Veris Residential, Inc. has a twelve month low of $13.06 and a twelve month high of $18.17. The firm has a 50 day moving average price of $16.59 and a 200-day moving average price of $15.50. The company has a market capitalization of $1.64 billion, a P/E ratio of -17.76, a P/E/G ratio of 6.67 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.33.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, July 24th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.11). Veris Residential had a negative net margin of 21.79% and a negative return on equity of 8.55%. The company had revenue of $67.48 million for the quarter, compared to the consensus estimate of $67.73 million. During the same period in the prior year, the company earned $0.16 earnings per share. As a group, equities analysts predict that Veris Residential, Inc. will post 0.54 EPS for the current year.

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be paid a dividend of $0.07 per share. This is a boost from Veris Residential’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Monday, September 30th. Veris Residential’s dividend payout ratio is presently -28.00%.

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.