Veris Residential, Inc. (NYSE:VRE) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP lifted its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 92.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 342,500 shares of the company's stock after purchasing an additional 164,400 shares during the quarter. Two Sigma Advisers LP owned 0.37% of Veris Residential worth $5,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Veris Residential by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock worth $211,157,000 after acquiring an additional 331,354 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Veris Residential by 2.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,149,233 shares of the company's stock valued at $35,742,000 after purchasing an additional 53,564 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Veris Residential by 1.0% during the fourth 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 grew its stake in 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 purchasing an additional 192,116 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Veris Residential by 49.1% in 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 last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRE has been the subject of a number of analyst reports. Truist Financial reduced 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 reissued an "in-line" rating and set a $18.00 price target (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th.

Veris Residential Stock Performance

Shares of VRE stock traded down $0.11 on Friday, hitting $15.03. The company had a trading volume of 42,637 shares, compared to its average volume of 518,796. The firm has a market cap of $1.40 billion, a P/E ratio of -88.38, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a 50-day moving average price of $15.63 and a 200-day moving average price of $16.31. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85.

Veris Residential (NYSE:VRE - Get Free Report) last issued its 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 for the quarter, compared to analysts' expectations of $69.24 million. As a group, equities research analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.13%. Veris Residential's dividend payout ratio is currently -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.