Veris Residential, Inc. (NYSE:VRE) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG boosted its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 449,712 shares of the company's stock after purchasing an additional 22,937 shares during the quarter. Deutsche Bank AG owned about 0.48% of Veris Residential worth $7,479,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Veris Residential by 11,246.7% during the fourth quarter. Covestor Ltd now owns 1,702 shares of the company's stock worth $28,000 after acquiring an additional 1,687 shares during the period. Sterling Capital Management LLC grew its holdings in Veris Residential by 824.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,515 shares of the company's stock valued at $42,000 after purchasing an additional 2,243 shares during the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Veris Residential in the fourth quarter valued at $184,000. Jump Financial LLC acquired a new stake in Veris Residential in the fourth quarter valued at $205,000. Finally, Van ECK Associates Corp grew its holdings in Veris Residential by 10.2% in 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 last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Price Performance

Shares of VRE traded down $0.25 during trading hours on Thursday, reaching $14.76. 344,308 shares of the company traded hands, compared to its average volume of 518,589. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $1.38 billion, a PE ratio of -86.82, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The stock has a fifty day simple moving average of $15.82 and a 200 day simple moving average of $16.41.

Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $69.24 million. As a group, research analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.17%. Veris Residential's dividend payout ratio (DPR) is currently -100.00%.

Analysts Set New Price Targets

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

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.