Balyasny Asset Management L.P. Reduces Stake in Veris Residential, Inc. (NYSE:VRE)

Balyasny Asset Management L.P. trimmed its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 53.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,976 shares of the company's stock after selling 554,336 shares during the quarter. Balyasny Asset Management L.P. owned 0.52% of Veris Residential worth $8,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VRE. Barclays PLC lifted its position in shares of Veris Residential by 56.6% during the third quarter. Barclays PLC now owns 320,268 shares of the company's stock worth $5,720,000 after purchasing an additional 115,713 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Veris Residential during the third quarter worth $397,000. Inspire Investing LLC lifted its position in shares of Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock worth $404,000 after purchasing an additional 1,149 shares during the last quarter. Vert Asset Management LLC lifted its position in shares of Veris Residential by 15.8% during the fourth quarter. Vert Asset Management LLC now owns 36,688 shares of the company's stock worth $610,000 after purchasing an additional 4,998 shares during the last quarter. Finally, abrdn plc lifted its position in shares of Veris Residential by 90.3% during the fourth quarter. abrdn plc now owns 29,821 shares of the company's stock worth $490,000 after purchasing an additional 14,150 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Up 1.9%

Shares of VRE stock traded up $0.29 on Thursday, hitting $15.44. The stock had a trading volume of 86,942 shares, compared to its average volume of 519,538. 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 business has a 50 day moving average price of $15.89 and a 200 day moving average price of $16.46. The company has a market cap of $1.44 billion, a PE ratio of -90.54, a P/E/G ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $67.76 million during the quarter, compared to the consensus estimate of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. Research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders 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 annualized dividend and a yield of 2.07%. Veris Residential's dividend payout ratio (DPR) is presently -100.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VRE shares. Truist Financial decreased their target price on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research report on Monday, May 5th. Evercore ISI restated an "in-line" rating and issued a $18.00 price objective (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

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.