Cbre Investment Management Listed Real Assets LLC Buys 76,642 Shares of Veris Residential, Inc. $VRE

Cbre Investment Management Listed Real Assets LLC grew its stake in Veris Residential, Inc. (NYSE:VRE) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,350,832 shares of the company’s stock after purchasing an additional 76,642 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 1.45% of Veris Residential worth $20,100,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Veris Residential by 26.6% in the first quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock worth $292,000 after buying an additional 3,623 shares during the period. AQR Capital Management LLC raised its holdings in shares of Veris Residential by 88.8% in the first quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock worth $911,000 after buying an additional 25,520 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Veris Residential by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock worth $790,000 after buying an additional 2,064 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Veris Residential by 72.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock worth $17,033,000 after buying an additional 423,482 shares during the period. Finally, Jane Street Group LLC raised its holdings in shares of Veris Residential by 234.4% in the first quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock worth $1,926,000 after buying an additional 79,802 shares during the period. 93.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VRE shares. Citigroup increased their price target on Veris Residential from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Truist Financial increased their price target on Veris Residential from $15.00 to $19.00 and gave the stock a “hold” rating in a report on Tuesday, March 24th. Finally, Wall Street Zen downgraded Veris Residential from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Veris Residential currently has a consensus rating of “Hold” and an average target price of $19.50.

Veris Residential Stock Performance

VRE opened at $18.99 on Tuesday. The stock’s fifty day moving average is $18.94 and its two-hundred day moving average is $16.97. The company has a market capitalization of $1.78 billion, a P/E ratio of 24.66, a PEG ratio of 3.15 and a beta of 1.07. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $19.03. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.10.

Veris Residential (NYSE:VRE) last released its quarterly earnings data on Wednesday, April 22nd. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.33). The firm had revenue of $70.10 million for the quarter, compared to analysts’ expectations of $68.06 million. Veris Residential had a return on equity of 5.34% and a net margin of 24.30%. Analysts forecast that Veris Residential, Inc. will post 0.78 earnings per share for the current year.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.