47,897 Shares in Veris Residential, Inc. (NYSE:VRE) Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC bought a new stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 47,897 shares of the company's stock, valued at approximately $810,000. Exchange Traded Concepts LLC owned about 0.05% of Veris Residential at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of VRE. Argosy Lionbridge Management LLC bought a new stake in Veris Residential during the fourth quarter valued at approximately $19,028,000. Northern Trust Corp lifted its position in Veris Residential by 49.1% during the fourth 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. Woodline Partners LP lifted its position in Veris Residential by 62.1% during the fourth quarter. Woodline Partners LP now owns 922,515 shares of the company's stock valued at $15,341,000 after purchasing an additional 353,540 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in Veris Residential by 51.7% during 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 purchasing an additional 332,381 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Veris Residential by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock valued at $211,157,000 after purchasing an additional 331,354 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Trading Up 0.2%

Shares of VRE traded up $0.03 during mid-day trading on Friday, reaching $15.02. The company's stock had a trading volume of 1,114,676 shares, compared to its average volume of 490,185. The stock has a market cap of $1.40 billion, a PE ratio of -46.92, a P/E/G ratio of 1.68 and a beta of 1.23. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.38. Veris Residential, Inc. has a 52 week low of $14.12 and a 52 week high of $18.85. The company's fifty day moving average price is $15.34 and its two-hundred day moving average price is $15.95.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $67.76 million during the quarter, compared to analyst estimates of $69.24 million. Veris Residential had a negative net margin of 11.02% and a negative return on equity of 2.62%. On average, analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be issued a $0.08 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.13%. Veris Residential's payout ratio is -100.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on VRE shares. Evercore ISI reiterated an "in-line" rating and set a $18.00 target price (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Truist Financial dropped 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 report on Monday, May 5th. Finally, Wall Street Zen lowered shares of Veris Residential from a "hold" rating to a "sell" rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Veris Residential 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.