Woodline Partners LP Grows Stock Position in Veris Residential, Inc. (NYSE:VRE)

Woodline Partners LP lifted its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 62.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 922,515 shares of the company's stock after acquiring an additional 353,540 shares during the quarter. Woodline Partners LP owned approximately 0.99% of Veris Residential worth $15,341,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of Veris Residential by 11,246.7% during 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 during the period. Sterling Capital Management LLC grew its stake in shares of Veris Residential by 824.6% during 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 during the period. Point72 Hong Kong Ltd bought a new position in shares of Veris Residential during the 4th quarter valued at approximately $45,000. State of Wyoming bought a new position in shares of Veris Residential during the 4th quarter valued at approximately $52,000. Finally, Lazard Asset Management LLC bought a new position in shares of Veris Residential during the 4th quarter valued at approximately $117,000. 93.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on VRE shares. Truist Financial cut their price objective 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 reiterated an "in-line" rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th.

Veris Residential Price Performance

VRE stock traded up $0.29 during midday trading on Tuesday, hitting $14.87. The company's stock had a trading volume of 72,587 shares, compared to its average volume of 474,944. Veris Residential, Inc. has a 12 month low of $13.84 and a 12 month high of $18.85. 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 firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -87.44, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a 50 day moving average of $15.72 and a two-hundred day moving average of $16.34.

Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $67.76 million during the quarter, compared to the consensus estimate of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. On average, analysts expect that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.15%. Veris Residential's dividend payout ratio (DPR) is -100.00%.

About Veris Residential

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.