LDR Capital Management LLC grew its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 50.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,552 shares of the company's stock after purchasing an additional 50,768 shares during the period. Veris Residential makes up approximately 3.1% of LDR Capital Management LLC's investment portfolio, making the stock its 11th largest holding. LDR Capital Management LLC owned 0.16% of Veris Residential worth $2,564,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of VRE. Van ECK Associates Corp increased its holdings in shares of Veris Residential by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company's stock valued at $247,000 after purchasing an additional 1,378 shares during the period. Asset Management One Co. Ltd. boosted its stake in Veris Residential by 5.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company's stock valued at $2,009,000 after buying an additional 6,287 shares in the last quarter. Rhumbline Advisers boosted its stake in Veris Residential by 1.7% during the fourth quarter. Rhumbline Advisers now owns 265,115 shares of the company's stock valued at $4,409,000 after buying an additional 4,422 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Veris Residential by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 391,831 shares of the company's stock valued at $6,516,000 after buying an additional 11,238 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Veris Residential by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 670,520 shares of the company's stock valued at $11,151,000 after buying an additional 15,653 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.
Veris Residential Trading Down 0.8%
NYSE:VRE opened at $14.86 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.38. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -46.44, a price-to-earnings-growth ratio of 1.67 and a beta of 1.23. The stock has a fifty day simple moving average of $15.35 and a 200 day simple moving average of $16.01.
Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Veris Residential had a negative return on equity of 2.62% and a negative net margin of 11.02%. The business had revenue of $67.76 million during the quarter, compared to analyst estimates of $69.24 million. Sell-side analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current 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 paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Monday, June 30th. Veris Residential's dividend payout ratio (DPR) is presently -100.00%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on VRE. Truist Financial decreased their target price on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Evercore ISI reaffirmed 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.
Check Out Our Latest Research Report on VRE
Veris Residential Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding VRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veris Residential, Inc. (NYSE:VRE - Free Report).
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