DigitalBridge Group Inc. Trims Stock Position in Veris Residential, Inc. (NYSE:VRE)

DigitalBridge Group Inc. cut its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 439,341 shares of the company's stock after selling 369,974 shares during the period. DigitalBridge Group Inc. owned approximately 0.47% of Veris Residential worth $7,306,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC increased its stake in Veris Residential by 78.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 233,057 shares of the company's stock valued at $3,876,000 after purchasing an additional 102,625 shares during the last quarter. Centiva Capital LP acquired a new stake in Veris Residential during the fourth quarter worth about $589,000. BNP Paribas Financial Markets boosted its position in Veris Residential by 28.9% during the 4th quarter. BNP Paribas Financial Markets now owns 22,341 shares of the company's stock worth $372,000 after purchasing an additional 5,003 shares during the period. AXA S.A. grew its stake in shares of Veris Residential by 11.8% during the fourth quarter. AXA S.A. now owns 613,908 shares of the company's stock valued at $10,209,000 after acquiring an additional 64,772 shares in the last quarter. Finally, Adelante Capital Management LLC increased its holdings in Veris Residential by 1.5% in the fourth quarter. Adelante Capital Management LLC now owns 625,229 shares of the company's stock valued at $10,398,000 after buying an additional 9,262 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Stock Up 0.7%

VRE traded up $0.11 during trading on Monday, reaching $15.65. 143,946 shares of the stock were exchanged, compared to its average volume of 519,736. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The stock's 50 day moving average price is $15.97 and its two-hundred day moving average price is $16.48. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The stock has a market cap of $1.46 billion, a P/E ratio of -91.99, a price-to-earnings-growth 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 EPS for the quarter, beating 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 firm had revenue of $67.76 million for the quarter, compared to analyst estimates of $69.24 million. Equities analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.04%. Veris Residential's dividend payout ratio (DPR) is currently -100.00%.

Analyst Upgrades and Downgrades

Several research analysts have commented 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 for the company in a research report on Monday, May 5th. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research 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.