Woodline Partners LP Purchases 353,540 Shares of Veris Residential, Inc. (NYSE:VRE)

Woodline Partners LP boosted its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 62.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 922,515 shares of the company's stock after buying 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of VRE. Covestor Ltd grew its stake 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 buying an additional 1,687 shares during the last quarter. Sterling Capital Management LLC grew its stake 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 buying an additional 2,243 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Veris Residential in the 4th quarter valued at $45,000. State of Wyoming bought a new stake in Veris Residential in the 4th quarter valued at $52,000. Finally, Lazard Asset Management LLC bought a new stake in Veris Residential in the 4th quarter valued at $117,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Stock Performance

Veris Residential stock traded down $0.19 during mid-day trading on Friday, reaching $14.59. The company had a trading volume of 395,008 shares, compared to its average volume of 521,013. The company has a 50 day moving average of $15.75 and a 200-day moving average of $16.39. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -85.79, a PEG ratio of 2.50 and a beta of 1.24. Veris Residential, Inc. has a 52 week low of $13.84 and a 52 week 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.

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

Veris Residential Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given 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 2.19%. Veris Residential's dividend payout ratio (DPR) is currently -100.00%.

Analyst Ratings Changes

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

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.