Dark Forest Capital Management LP Decreases Stake in Veris Residential, Inc. (NYSE:VRE)

Dark Forest Capital Management LP reduced its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 49.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,764 shares of the company's stock after selling 23,941 shares during the quarter. Dark Forest Capital Management LP's holdings in Veris Residential were worth $412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRE. Hsbc Holdings PLC raised its position in shares of Veris Residential by 6.1% in the fourth quarter. Hsbc Holdings PLC now owns 71,201 shares of the company's stock valued at $1,183,000 after buying an additional 4,080 shares during the last quarter. MetLife Investment Management LLC raised its holdings in 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 acquiring an additional 2,537 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Veris Residential by 8.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 174,951 shares of the company's stock valued at $2,908,000 after purchasing an additional 13,510 shares in the last quarter. Marshall Wace LLP boosted its stake in Veris Residential by 49.6% during the fourth quarter. Marshall Wace LLP now owns 764,879 shares of the company's stock worth $12,720,000 after buying an additional 253,736 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in Veris Residential in the 4th quarter valued at $205,000. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Trading Up 1.9 %

NYSE VRE traded up $0.30 on Friday, reaching $16.27. The stock had a trading volume of 467,358 shares, compared to its average volume of 520,751. 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 stock has a fifty day moving average price of $16.07 and a two-hundred day moving average price of $16.56. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -95.70, a P/E/G ratio of 2.50 and a beta of 1.17.

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, beating analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $67.76 million during the quarter, compared to analysts' expectations of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. As a group, sell-side analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, March 31st. Veris Residential's payout ratio is currently -100.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore ISI reissued an "in-line" rating and set a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Truist Financial lifted their price target on shares of Veris Residential from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Monday, March 10th.

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.