JPMorgan Chase & Co. Has $36.09 Million Position in Veris Residential, Inc. $VRE

JPMorgan Chase & Co. lifted its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 26.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,374,440 shares of the company’s stock after purchasing an additional 501,725 shares during the period. JPMorgan Chase & Co. owned 2.54% of Veris Residential worth $36,091,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Hantz Financial Services Inc. grew its holdings in Veris Residential by 720.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock worth $32,000 after acquiring an additional 1,872 shares during the last quarter. Covestor Ltd lifted its position in shares of Veris Residential by 29.0% during the third quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after purchasing an additional 736 shares in the last quarter. CWM LLC grew its stake in shares of Veris Residential by 925.9% during the second quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after purchasing an additional 6,333 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Veris Residential by 49.5% during the third quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock valued at $128,000 after purchasing an additional 2,780 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Veris Residential by 307.0% in the second quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock valued at $128,000 after purchasing an additional 6,500 shares in the last quarter. 93.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on VRE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. Wall Street Zen lowered Veris Residential from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.67.

Veris Residential Price Performance

VRE opened at $18.86 on Friday. The company has a fifty day moving average price of $15.70 and a two-hundred day moving average price of $15.21. The firm has a market capitalization of $1.76 billion, a PE ratio of 23.57, a P/E/G ratio of 2.80 and a beta of 1.26. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $18.89. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.53 and a current ratio of 0.68.

Veris Residential (NYSE:VRE) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $71.31 million for the quarter, compared to analyst estimates of $70.85 million. Veris Residential had a return on equity of 5.73% and a net margin of 26.08%. As a group, analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential 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.