First Trust Advisors LP Sells 28,601 Shares of Veris Residential, Inc. (NYSE:VRE)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its position in shares of Veris Residential by 8.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 174,951 shares of the company's stock valued at $2,908,000 after purchasing an additional 13,510 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Veris Residential by 49.6% in the fourth quarter. Marshall Wace LLP now owns 764,879 shares of the company's stock worth $12,720,000 after purchasing an additional 253,736 shares in the last quarter. Jump Financial LLC bought a new position in shares of Veris Residential in the fourth quarter worth $205,000. Sterling Capital Management LLC boosted its stake in Veris Residential by 824.6% during the fourth 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 in the last quarter. Finally, Covestor Ltd boosted its stake in Veris Residential by 11,246.7% during the fourth quarter. Covestor Ltd now owns 1,702 shares of the company's stock valued at $28,000 after buying an additional 1,687 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Trading Up 0.5%

Shares of Veris Residential stock traded up $0.07 during trading on Monday, reaching $15.61. 482,971 shares of the company were exchanged, compared to its average volume of 521,063. 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 twelve month low of $13.84 and a twelve month high of $18.85. The business has a 50-day moving average price of $15.95 and a 200-day moving average price of $16.47. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -91.82, a P/E/G ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $67.76 million during the quarter, compared to analysts' expectations of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. Sell-side analysts anticipate that Veris Residential, Inc. will post 0.61 EPS for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Monday, March 31st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date was Monday, March 31st. Veris Residential's dividend payout ratio is presently -100.00%.

Wall Street Analyst Weigh In

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

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.