Point72 Asset Management L.P. Raises Holdings in Veris Residential, Inc. (NYSE:VRE)

Point72 Asset Management L.P. raised its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 161.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,500 shares of the company's stock after purchasing an additional 23,800 shares during the period. Point72 Asset Management L.P.'s holdings in Veris Residential were worth $640,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VRE. Barclays PLC lifted its holdings in shares of Veris Residential by 56.6% during the 3rd quarter. Barclays PLC now owns 320,268 shares of the company's stock valued at $5,720,000 after buying an additional 115,713 shares during the period. Inspire Investing LLC raised its holdings in Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock valued at $404,000 after acquiring an additional 1,149 shares during the period. Vert Asset Management LLC increased its holdings in shares of Veris Residential by 15.8% in the fourth quarter. Vert Asset Management LLC now owns 36,688 shares of the company's stock worth $610,000 after purchasing an additional 4,998 shares during the last quarter. abrdn plc increased its holdings in shares of Veris Residential by 90.3% in the fourth quarter. abrdn plc now owns 29,821 shares of the company's stock worth $490,000 after purchasing an additional 14,150 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Veris Residential by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock worth $247,000 after purchasing an additional 1,378 shares during the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Truist Financial dropped their price target 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. Evercore ISI restated an "in-line" rating and set a $18.00 target price (down previously from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th.

Veris Residential Stock Down 1.5%

Shares of NYSE VRE opened at $14.78 on Friday. The firm has a market capitalization 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 quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day moving average price of $15.78 and a 200 day moving average price of $16.40.

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

Veris Residential Dividend Announcement

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

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