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

DigitalBridge Group Inc. lessened its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 45.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 439,341 shares of the company's stock after selling 369,974 shares during the quarter. DigitalBridge Group Inc. owned 0.47% of Veris Residential worth $7,306,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in VRE. Cbre Investment Management Listed Real Assets LLC increased its holdings in Veris Residential by 51.7% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company's stock valued at $16,219,000 after buying an additional 332,381 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Veris Residential in the 4th quarter valued at about $1,737,000. Asset Management One Co. Ltd. raised its position in shares of Veris Residential by 5.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company's stock worth $2,009,000 after acquiring an additional 6,287 shares in the last quarter. abrdn plc lifted its stake in Veris Residential by 90.3% during the fourth quarter. abrdn plc now owns 29,821 shares of the company's stock worth $490,000 after purchasing an additional 14,150 shares during the last quarter. Finally, Amundi lifted its stake in Veris Residential by 43.3% during the fourth quarter. Amundi now owns 81,250 shares of the company's stock worth $1,272,000 after purchasing an additional 24,570 shares during the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Stock Performance

Shares of NYSE:VRE traded down $0.03 on Thursday, reaching $14.93. The company's stock had a trading volume of 280,425 shares, compared to its average volume of 519,583. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The stock has a market capitalization of $1.39 billion, a P/E ratio of -87.82, a PEG ratio of 2.50 and a beta of 1.24. The stock's 50-day moving average is $15.66 and its two-hundred day moving average is $16.33. 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 released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 business had revenue of $67.76 million during the quarter, compared to analysts' expectations of $69.24 million. As a group, sell-side analysts forecast that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.14%. Veris Residential's dividend payout ratio (DPR) is -100.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VRE shares. Evercore ISI reiterated an "in-line" rating and issued a $18.00 price target (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial reduced 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.

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.