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

EntryPoint Capital LLC lifted its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 131.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 25,433 shares of the company’s stock after buying an additional 14,439 shares during the quarter. EntryPoint Capital LLC’s holdings in Veris Residential were worth $423,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Veris Residential by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company’s stock worth $211,157,000 after acquiring an additional 331,354 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Veris Residential in the fourth quarter valued at approximately $606,000. KLP Kapitalforvaltning AS bought a new stake in shares of Veris Residential in the fourth quarter valued at approximately $274,000. Quantbot Technologies LP acquired a new stake in Veris Residential during the fourth quarter worth approximately $595,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Veris Residential by 37.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,643 shares of the company’s stock worth $709,000 after buying an additional 11,588 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Veris Residential Price Performance

Shares of VRE stock opened at $16.56 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. 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. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The business has a fifty day simple moving average of $16.13 and a 200 day simple moving average of $16.91.

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). Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. The firm had revenue of $68.08 million during the quarter, compared to analyst estimates of $66.98 million. On average, sell-side analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date 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 -133.33%.

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.