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

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

A number of other large investors have also recently made changes to their positions in VRE. GF Fund Management CO. LTD. purchased a new position in shares of Veris Residential during the 4th quarter worth about $25,000. Covestor Ltd boosted its stake in shares of Veris Residential by 11,246.7% during the 4th 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 boosted its stake in shares of Veris Residential by 824.6% during the 4th 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 purchased a new stake in Veris Residential in the 4th quarter valued at about $45,000. Finally, State of Wyoming purchased a new stake in Veris Residential in the 4th quarter valued at about $52,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Up 2.6%

Shares of VRE traded up $0.39 during mid-day trading on Tuesday, hitting $14.97. The company's stock had a trading volume of 473,490 shares, compared to its average volume of 520,823. The company's 50-day moving average is $15.72 and its 200-day moving average is $16.34. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -88.02, a PEG ratio of 2.50 and a beta of 1.24. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, topping 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 firm had revenue of $67.76 million during the quarter, compared to analysts' expectations of $69.24 million. On average, equities research analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.14%. Veris Residential's payout ratio is presently -100.00%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on VRE shares. Evercore ISI reissued an "in-line" rating and issued a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Truist Financial lowered their price objective 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.

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.