Victory Capital Management Inc. Has $20.15 Million Stock Holdings in Veris Residential, Inc. (NYSE:VRE)

Victory Capital Management Inc. reduced its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,191,042 shares of the company's stock after selling 26,607 shares during the period. Victory Capital Management Inc. owned 1.28% of Veris Residential worth $20,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRE. New York State Common Retirement Fund lifted its stake in Veris Residential by 13.8% in the first quarter. New York State Common Retirement Fund now owns 24,786 shares of the company's stock worth $419,000 after acquiring an additional 3,000 shares during the last quarter. Cerity Partners LLC lifted its stake in Veris Residential by 110.4% in the first quarter. Cerity Partners LLC now owns 21,403 shares of the company's stock worth $362,000 after acquiring an additional 11,231 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Veris Residential by 2.6% in the first quarter. Principal Financial Group Inc. now owns 402,124 shares of the company's stock worth $6,804,000 after acquiring an additional 10,293 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Veris Residential during the first quarter worth approximately $207,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Veris Residential during the first quarter worth approximately $190,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Price Performance

Shares of NYSE:VRE traded up $0.04 on Friday, reaching $14.62. 314,291 shares of the company were exchanged, compared to its average volume of 491,955. Veris Residential, Inc. has a 1-year low of $14.12 and a 1-year high of $18.85. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average of $14.89 and a 200-day moving average of $15.58. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -63.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21.

Veris Residential (NYSE:VRE - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The firm had revenue of $75.93 million during the quarter, compared to the consensus estimate of $69.06 million. Veris Residential had a negative net margin of 7.84% and a negative return on equity of 1.88%. Equities analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Monday, June 30th were issued a $0.08 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.19%. Veris Residential's payout ratio is currently -100.00%.

Analyst Ratings Changes

A number of research firms have weighed in on VRE. Evercore ISI raised their price objective on shares of Veris Residential from $17.50 to $18.00 and gave the stock an "in-line" rating in a report on Friday. Truist Financial cut their target price on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating on the stock in a report on Monday, May 5th. BTIG Research cut their target price on shares of Veris Residential from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Wall Street Zen cut shares of Veris Residential from a "hold" rating to a "sell" rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.20.

Veris Residential Company 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.