Millennium Management LLC Purchases 192,116 Shares of Veris Residential, Inc. (NYSE:VRE)

Millennium Management LLC lifted its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 10.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,024,921 shares of the company's stock after purchasing an additional 192,116 shares during the period. Millennium Management LLC owned 2.18% of Veris Residential worth $33,674,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Barclays PLC increased its position in Veris Residential by 56.6% in the third quarter. Barclays PLC now owns 320,268 shares of the company's stock worth $5,720,000 after buying an additional 115,713 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Veris Residential by 5.0% during the 4th quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock valued at $404,000 after buying an additional 1,149 shares in the last quarter. Vert Asset Management LLC grew its stake in shares of Veris Residential by 15.8% during the 4th quarter. Vert Asset Management LLC now owns 36,688 shares of the company's stock valued at $610,000 after acquiring an additional 4,998 shares during the period. abrdn plc increased its holdings in Veris Residential by 90.3% in the 4th quarter. abrdn plc now owns 29,821 shares of the company's stock worth $490,000 after acquiring an additional 14,150 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Veris Residential by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after acquiring an additional 1,378 shares in the last quarter. 93.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial decreased their price objective on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research report on Monday, May 5th.

Veris Residential Price Performance

Shares of NYSE:VRE traded down $0.23 during trading on Thursday, hitting $14.78. 527,596 shares of the company's stock were exchanged, compared to its average volume of 519,270. The business's 50-day simple moving average is $15.82 and its 200 day simple moving average is $16.41. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -86.91, a PEG ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. 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 posted 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 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 the consensus estimate of $69.24 million. As a group, equities analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.17%. Veris Residential's dividend payout ratio 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.