LDR Capital Management LLC Has $2.56 Million Stake in Veris Residential, Inc. (NYSE:VRE)

LDR Capital Management LLC boosted its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,552 shares of the company's stock after purchasing an additional 50,768 shares during the quarter. Veris Residential comprises approximately 3.1% of LDR Capital Management LLC's holdings, making the stock its 11th largest position. LDR Capital Management LLC owned about 0.16% of Veris Residential worth $2,564,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Veris Residential during the 4th quarter valued at approximately $25,000. Covestor Ltd raised its holdings in Veris Residential by 11,246.7% in the 4th quarter. Covestor Ltd now owns 1,702 shares of the company's stock valued at $28,000 after acquiring an additional 1,687 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Veris Residential by 824.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock valued at $42,000 after acquiring an additional 2,243 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Veris Residential in the 4th quarter valued at approximately $45,000. Finally, State of Wyoming acquired a new position in Veris Residential in the 4th quarter valued at approximately $52,000. Institutional investors own 93.04% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on VRE. Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 price target (down previously from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial cut their price target on Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen cut Veris Residential from a "hold" rating to a "sell" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $18.50.

Veris Residential Price Performance

Shares of VRE traded up $0.03 during mid-day trading on Friday, reaching $15.02. The company had a trading volume of 1,114,676 shares, compared to its average volume of 490,185. Veris Residential, Inc. has a twelve month low of $14.12 and a twelve month high of $18.85. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.56 and a quick ratio of 0.56. The company's 50-day moving average is $15.34 and its 200-day moving average is $15.95. The company has a market capitalization of $1.40 billion, a P/E ratio of -46.92, a P/E/G ratio of 1.68 and a beta of 1.23.

Veris Residential (NYSE:VRE - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $69.24 million. On average, equities analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Monday, June 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.13%. Veris Residential's payout ratio is presently -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.