EntryPoint Capital LLC Has $423,000 Holdings in Veris Residential, Inc. (NYSE:VRE)

EntryPoint Capital LLC raised its holdings in Veris Residential, Inc. (NYSE:VRE) by 131.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,433 shares of the company’s stock after acquiring an additional 14,439 shares during the period. EntryPoint Capital LLC’s holdings in Veris Residential were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of VRE. Nomura Asset Management Co. Ltd. grew its position in shares of Veris Residential by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock valued at $1,786,000 after purchasing an additional 900 shares during the period. Inspire Investing LLC boosted its holdings in shares of Veris Residential by 5.0% in the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company’s stock valued at $404,000 after buying an additional 1,149 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Veris Residential by 1.1% during 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 in the last quarter. Van ECK Associates Corp raised its holdings in shares of 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 acquiring an additional 1,378 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in Veris Residential by 6.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 44,888 shares of the company’s stock valued at $746,000 after acquiring an additional 2,791 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on VRE. Evercore ISI reiterated an “in-line” rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised Veris Residential from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $17.00 in a research report on Tuesday, December 17th. Finally, Truist Financial upped their price target on Veris Residential from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, March 10th.

Veris Residential Price Performance

NYSE:VRE opened at $16.56 on Wednesday. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The company has a market cap of $1.54 billion, a P/E ratio of -97.41, a P/E/G ratio of 2.50 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s 50-day simple moving average is $16.13 and its 200 day simple moving average is $16.91.

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

Veris Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.93%. Veris Residential’s dividend payout ratio is presently -133.33%.

Veris Residential 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.