First Trust Advisors LP Has $247,000 Position in Veris Residential, Inc. (NYSE:VRE)

First Trust Advisors LP cut its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 65.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,841 shares of the company's stock after selling 28,601 shares during the period. First Trust Advisors LP's holdings in Veris Residential were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Barclays PLC raised its position in Veris Residential by 56.6% in the 3rd quarter. Barclays PLC now owns 320,268 shares of the company's stock valued at $5,720,000 after purchasing an additional 115,713 shares in the last quarter. Tidal Investments LLC acquired a new stake in Veris Residential during the 3rd quarter worth $397,000. Inspire Investing LLC increased its position in Veris Residential by 5.0% in the 4th quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock valued at $404,000 after acquiring an additional 1,149 shares during the period. Vert Asset Management LLC raised its position in Veris Residential by 15.8% during the 4th quarter. Vert Asset Management LLC now owns 36,688 shares of the company's stock worth $610,000 after buying an additional 4,998 shares during the last quarter. Finally, abrdn plc raised its stake in shares of Veris Residential by 90.3% during the 4th quarter. abrdn plc now owns 29,821 shares of the company's stock worth $490,000 after buying an additional 14,150 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Analysts Set New Price Targets

VRE has been the topic of several recent analyst reports. Evercore ISI restated an "in-line" rating and set a $18.00 target price (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Truist Financial dropped their price target on shares of Veris Residential from $17.00 to $16.00 and set a "hold" rating for the company in a research report on Monday, May 5th.

Veris Residential Stock Performance

NYSE:VRE traded up $0.21 during trading hours on Thursday, reaching $15.36. 38,786 shares of the stock were exchanged, compared to its average volume of 519,348. The stock has a market capitalization of $1.43 billion, a P/E ratio of -90.11, a P/E/G ratio of 2.50 and a beta of 1.24. The firm has a 50 day simple moving average of $15.89 and a 200-day simple moving average of $16.46. 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, Inc. has a 52 week low of $13.84 and a 52 week high of $18.85.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.03. The business had revenue of $67.76 million for the quarter, compared to analysts' expectations of $69.24 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. As a group, sell-side analysts forecast that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The firm also recently disclosed 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 was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 2.08%. 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.