Cubist Systematic Strategies LLC Has $3.88 Million Stake in Veris Residential, Inc. (NYSE:VRE)

Cubist Systematic Strategies LLC boosted its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 78.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,057 shares of the company's stock after acquiring an additional 102,625 shares during the quarter. Cubist Systematic Strategies LLC owned 0.25% of Veris Residential worth $3,876,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cbre Investment Management Listed Real Assets LLC increased its stake in Veris Residential by 51.7% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company's stock valued at $16,219,000 after acquiring an additional 332,381 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Veris Residential during the fourth quarter worth $1,737,000. Asset Management One Co. Ltd. grew its stake in shares of Veris Residential by 5.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company's stock worth $2,009,000 after buying an additional 6,287 shares during the last quarter. abrdn plc grew its stake 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 buying an additional 14,150 shares during the last quarter. Finally, Amundi grew its stake in shares of Veris Residential by 43.3% during the fourth quarter. Amundi now owns 81,250 shares of the company's stock worth $1,272,000 after buying an additional 24,570 shares during the last quarter. 93.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th.

Veris Residential Trading Up 2.1%

Shares of NYSE:VRE traded up $0.32 during mid-day trading on Thursday, reaching $15.47. 98,010 shares of the company's stock were exchanged, compared to its average volume of 519,614. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -91.05, a PEG ratio of 2.50 and a beta of 1.24. The business's fifty day moving average price is $15.89 and its 200-day moving average price is $16.46. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85.

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

Veris Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.07%. Veris Residential's dividend payout ratio (DPR) is presently -100.00%.

About Veris Residential

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.