B&I Capital AG Sells 24,000 Shares of Veris Residential, Inc. (NYSE:VRE)

B&I Capital AG lowered its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440,980 shares of the company's stock after selling 24,000 shares during the quarter. Veris Residential comprises approximately 2.4% of B&I Capital AG's investment portfolio, making the stock its 17th largest holding. B&I Capital AG owned about 0.47% of Veris Residential worth $7,461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Veris Residential by 2.7% during the 4th 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. Nuveen Asset Management LLC raised its position in Veris Residential by 2.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,149,233 shares of the company's stock valued at $35,742,000 after buying an additional 53,564 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Veris Residential by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,124,570 shares of the company's stock valued at $35,332,000 after purchasing an additional 21,713 shares during the period. Millennium Management LLC boosted its position in shares of Veris Residential by 10.5% during the 4th quarter. Millennium Management LLC now owns 2,024,921 shares of the company's stock valued at $33,674,000 after purchasing an additional 192,116 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Veris Residential by 49.1% during the 4th quarter. Northern Trust Corp now owns 1,524,968 shares of the company's stock valued at $25,360,000 after purchasing an additional 501,867 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company's stock.

Veris Residential Stock Performance

Shares of NYSE:VRE traded up $0.21 during midday trading on Tuesday, hitting $14.56. The company had a trading volume of 442,262 shares, compared to its average volume of 468,557. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -45.48, a PEG ratio of 1.59 and a beta of 1.21. Veris Residential, Inc. has a 12-month low of $14.12 and a 12-month high of $18.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.56 and a quick ratio of 0.56. The company has a fifty day moving average of $14.95 and a two-hundred day moving average of $15.62.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Veris Residential had a negative return on equity of 2.62% and a negative net margin of 11.02%. The business had revenue of $67.76 million during the quarter, compared to the consensus estimate of $69.24 million. On average, equities research analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were issued a $0.08 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.20%. Veris Residential's payout ratio is currently -100.00%.

Analysts Set New Price Targets

Several research analysts have weighed in on VRE shares. Wall Street Zen lowered shares of Veris Residential from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Truist Financial lowered their price objective on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Veris Residential presently has a consensus rating of "Hold" and an average target price of $18.50.

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.