Man Group plc Buys Shares of 51,144 Veris Residential, Inc. (NYSE:VRE)

Man Group plc acquired a new stake in Veris Residential, Inc. (NYSE:VRE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 51,144 shares of the company's stock, valued at approximately $851,000. Man Group plc owned 0.06% of Veris Residential as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its stake in shares of Veris Residential by 2.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,149,233 shares of the company's stock worth $35,742,000 after purchasing an additional 53,564 shares during the period. Millennium Management LLC grew its stake in shares of Veris Residential by 10.5% during the 4th quarter. Millennium Management LLC now owns 2,024,921 shares of the company's stock worth $33,674,000 after purchasing an additional 192,116 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Veris Residential by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,631 shares of the company's stock worth $742,000 after purchasing an additional 1,465 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Veris Residential during the 4th quarter worth $117,000. Finally, Graham Capital Management L.P. grew its stake in shares of Veris Residential by 78.0% during the 4th quarter. Graham Capital Management L.P. now owns 59,986 shares of the company's stock worth $998,000 after purchasing an additional 26,287 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VRE shares. Truist Financial lowered their price target on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. Evercore ISI reiterated 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.

Veris Residential Price Performance

Shares of Veris Residential stock traded down $0.04 on Thursday, hitting $14.92. The company's stock had a trading volume of 63,342 shares, compared to its average volume of 518,727. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The firm has a fifty day moving average price of $15.66 and a 200-day moving average price of $16.33. The company has a market capitalization of $1.39 billion, a P/E ratio of -87.73, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $67.76 million for the quarter, compared to analyst estimates of $69.24 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. On average, equities research analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.15%. Veris Residential's dividend payout ratio (DPR) is -100.00%.

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.