Nomura Asset Management Co. Ltd. Grows Holdings in Veris Residential, Inc. (NYSE:VRE)

Nomura Asset Management Co. Ltd. increased its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 103,900 shares of the company’s stock after purchasing an additional 3,900 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Veris Residential were worth $1,728,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Inspire Investing LLC boosted its position in shares of Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company’s stock worth $404,000 after buying an additional 1,149 shares during the period. Public Employees Retirement System of Ohio grew its position in Veris Residential by 1.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock valued at $2,079,000 after acquiring an additional 1,220 shares in the last quarter. Van ECK Associates Corp increased its stake in Veris Residential by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock worth $247,000 after purchasing an additional 1,378 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Veris Residential by 6.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 44,888 shares of the company’s stock valued at $746,000 after purchasing an additional 2,791 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Veris Residential by 13.6% in the fourth quarter. Arizona State Retirement System now owns 24,263 shares of the company’s stock valued at $403,000 after purchasing an additional 2,897 shares in the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Price Performance

Veris Residential stock opened at $17.12 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a fifty day simple moving average of $16.24 and a 200-day simple moving average of $16.89. The stock has a market cap of $1.59 billion, a P/E ratio of -100.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85.

Veris Residential (NYSE:VRE) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $68.08 million for the quarter, compared to analyst estimates of $66.98 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. Equities analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, March 31st. Veris Residential’s payout ratio is -133.33%.

Analysts Set New Price Targets

VRE has been the subject of several recent research reports. Truist Financial raised their price target on shares of Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised 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 note on Tuesday, December 17th.

About Veris Residential

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.