Veris Residential, Inc. (NYSE:VRE) Shares Sold by DigitalBridge Group Inc.

DigitalBridge Group Inc. trimmed its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 45.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 439,341 shares of the company's stock after selling 369,974 shares during the quarter. DigitalBridge Group Inc. owned approximately 0.47% of Veris Residential worth $7,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Covestor Ltd increased its position in Veris Residential by 11,246.7% during the fourth quarter. Covestor Ltd now owns 1,702 shares of the company's stock worth $28,000 after buying an additional 1,687 shares in the last quarter. Sterling Capital Management LLC boosted its stake 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 valued at $42,000 after acquiring an additional 2,243 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in Veris Residential during the 4th quarter worth about $184,000. Jump Financial LLC acquired a new position in Veris Residential in the 4th quarter valued at about $205,000. Finally, Van ECK Associates Corp lifted its holdings in Veris Residential by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock valued at $247,000 after purchasing an additional 1,378 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Trading Down 0.6 %

Shares of VRE traded down $0.09 during mid-day trading on Friday, hitting $15.54. The company had a trading volume of 440,011 shares, compared to its average volume of 520,185. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The business's 50-day simple moving average is $15.97 and its 200-day simple moving average is $16.49. The stock has a market cap of $1.45 billion, a PE ratio of -91.41, 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 (NYSE:VRE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. The business had revenue of $67.76 million during the quarter, compared to the consensus estimate of $69.24 million. Sell-side analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Announces Dividend

The firm also recently announced 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 was Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 2.06%. Veris Residential's payout ratio is -100.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRE. Evercore ISI reissued an "in-line" rating and issued a $18.00 price objective (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Truist Financial reduced their price target on Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday.

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.