Jackson Creek Investment Advisors LLC Buys Shares of 86,635 Veris Residential, Inc. (NYSE:VRE)

Jackson Creek Investment Advisors LLC purchased a new position in Veris Residential, Inc. (NYSE:VRE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 86,635 shares of the company’s stock, valued at approximately $1,441,000. Jackson Creek Investment Advisors LLC owned about 0.09% of Veris Residential at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Veris Residential by 1.1% during the third 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 last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Veris Residential by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,470,536 shares of the company’s stock valued at $26,264,000 after acquiring an additional 49,378 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Veris Residential by 11.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock worth $37,557,000 after purchasing an additional 219,901 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in Veris Residential by 51.7% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company’s stock worth $16,219,000 after purchasing an additional 332,381 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in Veris Residential by 5.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company’s stock valued at $2,009,000 after purchasing an additional 6,287 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VRE. Evercore ISI restated an “in-line” rating and issued a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th. Finally, Bank of America raised shares of Veris Residential from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $23.00 in a report on Tuesday, November 12th.

Veris Residential Stock Performance

NYSE VRE opened at $16.70 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The business has a 50-day moving average price of $16.07 and a 200-day moving average price of $16.98. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -98.21, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE) last posted its quarterly earnings results 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 the consensus estimate of $66.98 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. As a group, equities research analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $0.08 dividend. The ex-dividend date 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 is currently -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.