DigitalBridge Group Inc. Has $7.31 Million Holdings in Veris Residential, Inc. (NYSE:VRE)

DigitalBridge Group Inc. reduced its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 45.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 439,341 shares of the company's stock after selling 369,974 shares during the quarter. DigitalBridge Group Inc. owned about 0.47% of Veris Residential worth $7,306,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. GF Fund Management CO. LTD. bought a new position in shares of Veris Residential during the fourth quarter worth approximately $25,000. Covestor Ltd lifted its holdings in shares of 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 purchasing an additional 1,687 shares during the period. Sterling Capital Management LLC lifted its holdings 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 purchasing an additional 2,243 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Veris Residential during the fourth quarter worth $45,000. Finally, State of Wyoming acquired a new position in shares of Veris Residential during the fourth quarter worth $52,000. 93.04% of the stock is owned by institutional investors.

Veris Residential Trading Down 0.2%

NYSE VRE traded down $0.03 during mid-day trading on Wednesday, reaching $14.94. 373,370 shares of the stock were exchanged, compared to its average volume of 520,235. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85. The stock has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $16.34. The stock has a market cap of $1.39 billion, a P/E ratio of -87.88, a P/E/G ratio of 2.50 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73.

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, topping analysts' consensus estimates 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. On average, analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Monday, March 31st. Veris Residential's dividend payout ratio (DPR) is currently -100.00%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Evercore ISI reiterated an "in-line" rating and set a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial lowered 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 note on Monday, May 5th.

Veris Residential Company 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.