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

Two Sigma Investments LP grew its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 361,296 shares of the company's stock after purchasing an additional 40,181 shares during the quarter. Two Sigma Investments LP owned approximately 0.39% of Veris Residential worth $6,008,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Covestor Ltd lifted its stake in shares of Veris Residential by 11,246.7% during the fourth quarter. Covestor Ltd now owns 1,702 shares of the company's stock valued at $28,000 after buying an additional 1,687 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Veris Residential by 824.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock valued at $42,000 after buying an additional 2,243 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Veris Residential during the fourth quarter valued at approximately $45,000. State of Wyoming purchased a new position in shares of Veris Residential during the fourth quarter valued at approximately $52,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Veris Residential during the fourth quarter valued at approximately $117,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRE has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, May 5th. 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 research note on Wednesday, February 26th.

Veris Residential Trading Up 0.7%

NYSE:VRE traded up $0.10 during trading hours on Friday, reaching $15.23. 980,151 shares of the company were exchanged, compared to its average volume of 522,672. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -89.58, 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 stock has a 50 day simple moving average of $15.61 and a 200 day simple moving average of $16.27.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data 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. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. The company had revenue of $67.76 million during the quarter, compared to analyst estimates of $69.24 million. As a group, analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Monday, June 30th. Veris Residential's 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.