Veris Residential, Inc. (NYSE:VRE) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 53.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 485,976 shares of the company's stock after selling 554,336 shares during the period. Balyasny Asset Management L.P. owned 0.52% of Veris Residential worth $8,082,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Inspire Investing LLC grew its position in Veris Residential by 5.0% in the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock worth $404,000 after acquiring an additional 1,149 shares during the period. Van ECK Associates Corp boosted its position 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 buying an additional 1,378 shares during the period. Covestor Ltd boosted its position in shares of Veris Residential by 11,246.7% during the fourth quarter. Covestor Ltd now owns 1,702 shares of the company's stock worth $28,000 after buying an additional 1,687 shares during the period. Sterling Capital Management LLC grew its stake in shares of Veris Residential by 824.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock valued at $42,000 after buying an additional 2,243 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Veris Residential by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 49,810 shares of the company's stock valued at $828,000 after buying an additional 2,537 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Veris Residential Stock Up 0.5%

Shares of NYSE VRE traded up $0.07 during mid-day trading on Monday, hitting $15.61. The company had a trading volume of 482,971 shares, compared to its average volume of 521,063. The company has a market capitalization of $1.46 billion, a PE ratio of -91.82, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The business's 50-day simple moving average is $15.95 and its 200 day simple moving average is $16.47. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73.

Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The company had revenue of $67.76 million for the quarter, compared to analyst estimates of $69.24 million. On average, analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were paid a $0.08 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 2.05%. Veris Residential's dividend payout ratio is currently -100.00%.

Analysts Set New Price Targets

A number of brokerages recently commented on VRE. Evercore ISI restated an "in-line" rating and set a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial reduced their price target on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday, May 5th.

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.