Millennium Management LLC Grows Stake in Veris Residential, Inc. (NYSE:VRE)

Millennium Management LLC grew its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,024,921 shares of the company's stock after purchasing an additional 192,116 shares during the period. Millennium Management LLC owned approximately 2.18% of Veris Residential worth $33,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of VRE. Barclays PLC lifted its stake in shares of Veris Residential by 56.6% in the 3rd quarter. Barclays PLC now owns 320,268 shares of the company's stock valued at $5,720,000 after purchasing an additional 115,713 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Veris Residential by 5.0% in the 4th quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock valued at $404,000 after purchasing an additional 1,149 shares during the last quarter. Vert Asset Management LLC lifted its stake in shares of Veris Residential by 15.8% in the 4th quarter. Vert Asset Management LLC now owns 36,688 shares of the company's stock valued at $610,000 after purchasing an additional 4,998 shares during the last quarter. abrdn plc lifted its stake in shares of Veris Residential by 90.3% in the 4th quarter. abrdn plc now owns 29,821 shares of the company's stock valued at $490,000 after purchasing an additional 14,150 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Veris Residential by 10.2% during 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. Institutional investors and hedge funds own 93.04% of the company's stock.

Veris Residential Trading Down 1.3%

VRE traded down $0.19 during mid-day trading on Friday, hitting $14.59. 395,008 shares of the stock were exchanged, compared to its average volume of 521,013. The firm's fifty day moving average is $15.75 and its two-hundred day moving average is $16.38. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.36 billion, a PE ratio of -85.79, a PEG ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 4.97% and a negative net margin of 5.70%. Equities analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, March 31st. Veris Residential's dividend payout ratio is currently -100.00%.

Wall Street Analysts Forecast Growth

VRE has been the topic of several research reports. Evercore ISI reissued an "in-line" rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial decreased their target price on Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, May 5th.

Veris Residential 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.