Veris Residential, Inc. (NYSE:VRE) Shares Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. increased its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 435,500 shares of the company's stock after purchasing an additional 32,350 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.47% of Veris Residential worth $7,242,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Argosy Lionbridge Management LLC purchased a new position in Veris Residential during the 4th quarter worth $19,028,000. Northern Trust Corp lifted its holdings in shares of Veris Residential by 49.1% in the 4th quarter. Northern Trust Corp now owns 1,524,968 shares of the company's stock valued at $25,360,000 after buying an additional 501,867 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of 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 buying an additional 332,381 shares in the last quarter. Vanguard Group Inc. grew its holdings 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. Finally, Norges Bank purchased a new position in Veris Residential in the fourth quarter worth $4,828,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on VRE shares. 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 report on Monday, May 5th. Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

Veris Residential Price Performance

Shares of NYSE:VRE traded down $0.15 during midday trading on Wednesday, hitting $15.30. 25,762 shares of the stock were exchanged, compared to its average volume of 517,971. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average price of $15.84 and a 200-day moving average price of $16.42. The stock has a market cap of $1.43 billion, a P/E ratio of -89.97, a PEG ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $67.76 million for the quarter, compared to the consensus estimate 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 forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The firm also recently disclosed 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. This represents a $0.32 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, March 31st. Veris Residential's dividend payout ratio (DPR) is -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.