Nisa Investment Advisors LLC Sells 2,408 Shares of Veris Residential, Inc. (NYSE:VRE)

Nisa Investment Advisors LLC lowered its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 9.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,442 shares of the company’s stock after selling 2,408 shares during the period. Nisa Investment Advisors LLC’s holdings in Veris Residential were worth $409,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of VRE. JPMorgan Chase & Co. raised its holdings in shares of Veris Residential by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock valued at $37,557,000 after purchasing an additional 219,901 shares during the last quarter. Tidal Investments LLC purchased a new stake in Veris Residential during the 3rd quarter valued at $397,000. Geode Capital Management LLC lifted its holdings in shares of Veris Residential by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company’s stock valued at $35,743,000 after buying an additional 21,133 shares during the period. Barclays PLC boosted its stake in shares of Veris Residential by 56.6% in the 3rd quarter. Barclays PLC now owns 320,268 shares of the company’s stock worth $5,720,000 after buying an additional 115,713 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Veris Residential by 1.1% in the third quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock worth $2,079,000 after acquiring an additional 1,220 shares during the period. Institutional investors own 93.04% of the company’s stock.

Veris Residential Stock Performance

NYSE:VRE opened at $15.74 on Thursday. The stock has a 50-day simple moving average of $16.84 and a two-hundred day simple moving average of $16.95. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The firm has a market capitalization of $1.46 billion, a PE ratio of -92.55, a P/E/G ratio of 2.49 and a beta of 1.28.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, October 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.22). The firm had revenue of $68.18 million during the quarter, compared to analysts’ expectations of $68.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. During the same period in the prior year, the company posted $0.12 earnings per share. Analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.03%. This is an increase from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, December 31st. Veris Residential’s payout ratio is presently -188.22%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VRE shares. Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $17.00 in a research note on Tuesday, December 17th.

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.