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

Point72 Asset Management L.P. increased its stake in Veris Residential, Inc. (NYSE:VRE - Free Report) by 161.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Veris Residential by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock valued at $211,157,000 after acquiring an additional 331,354 shares during the period. Nuveen Asset Management LLC raised 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 valued at $35,742,000 after buying an additional 53,564 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Veris Residential by 1.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,124,570 shares of the company's stock valued at $35,332,000 after buying an additional 21,713 shares during the period. Millennium Management LLC boosted its stake in shares of Veris Residential by 10.5% in the fourth quarter. Millennium Management LLC now owns 2,024,921 shares of the company's stock worth $33,674,000 after buying an additional 192,116 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in 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 acquiring an additional 501,867 shares during the period. Hedge funds and other institutional investors own 93.04% of the company's stock.

Analyst Ratings Changes

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

Veris Residential Price Performance

Shares of Veris Residential stock traded down $0.09 on Wednesday, hitting $14.88. The company's stock had a trading volume of 46,284 shares, compared to its average volume of 518,970. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -87.58, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year 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 firm has a fifty day moving average price of $15.69 and a 200-day moving average price of $16.34.

Veris Residential (NYSE:VRE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $67.76 million during 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%. As a group, sell-side analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, March 31st. Veris Residential's dividend payout ratio (DPR) is -100.00%.

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.