D. E. Shaw & Co. Inc. Increases Holdings in Veris Residential, Inc. (NYSE:VRE)

D. E. Shaw & Co. Inc. lifted its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,500 shares of the company's stock after acquiring an additional 32,350 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.47% of Veris Residential worth $7,242,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VRE. Covestor Ltd increased its holdings in Veris Residential by 11,246.7% during the 4th quarter. Covestor Ltd now owns 1,702 shares of the company's stock worth $28,000 after purchasing an additional 1,687 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Veris Residential by 824.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock worth $42,000 after acquiring an additional 2,243 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Veris Residential during the fourth quarter worth $184,000. Jump Financial LLC purchased a new stake in shares of Veris Residential during the fourth quarter worth $205,000. Finally, Van ECK Associates Corp increased its holdings in shares of Veris Residential by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after purchasing an additional 1,378 shares during the period. Institutional investors and hedge funds own 93.04% of the company's stock.

Veris Residential Stock Performance

VRE traded down $0.05 during mid-day trading on Monday, reaching $15.52. 313,952 shares of the company traded hands, compared to its average volume of 520,412. The company's fifty day moving average price is $15.86 and its 200-day moving average price is $16.43. The stock has a market capitalization of $1.45 billion, a P/E ratio of -91.29, a P/E/G ratio of 2.50 and a beta of 1.24. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85.

Veris Residential (NYSE:VRE - Get Free Report) last announced its 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. 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 analysts' expectations of $69.24 million. On average, sell-side analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 2.06%. Veris Residential's payout ratio is currently -100.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial lowered their price target on 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 reiterated 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.

Veris Residential 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.