Veris Residential, Inc. (NYSE:VRE) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 1,629.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,808 shares of the company's stock after buying an additional 21,489 shares during the quarter. GAMMA Investing LLC's holdings in Veris Residential were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of VRE. Argosy Lionbridge Management LLC bought a new stake in Veris Residential in the fourth quarter worth $19,028,000. Northern Trust Corp lifted its position in shares of Veris Residential by 49.1% during the fourth quarter. Northern Trust Corp now owns 1,524,968 shares of the company's stock worth $25,360,000 after purchasing an additional 501,867 shares during the last quarter. Woodline Partners LP lifted its position in shares of Veris Residential by 62.1% during the fourth quarter. Woodline Partners LP now owns 922,515 shares of the company's stock worth $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 shares of 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 worth $16,219,000 after purchasing an additional 332,381 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Veris Residential by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock worth $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 Stock Up 0.5%

Shares of Veris Residential stock traded up $0.08 during trading on Monday, hitting $15.11. 646,074 shares of the stock traded hands, compared to its average volume of 490,809. The firm has a market cap of $1.41 billion, a P/E ratio of -47.22, a price-to-earnings-growth 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 stock's fifty day simple moving average is $15.34 and its 200 day simple moving average is $15.92.

Veris Residential (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $67.76 million for the quarter, compared to analyst estimates of $69.24 million. Veris Residential had a negative return on equity of 2.62% and a negative net margin of 11.02%. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.12%. The ex-dividend date is Monday, June 30th. Veris Residential's dividend payout ratio is presently -100.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Veris Residential from a "hold" rating to a "sell" rating in a research report on Saturday. Truist Financial decreased their target price on 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, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Veris Residential has a consensus rating of "Hold" and an average target price of $18.50.

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.