Short Interest in Veris Residential, Inc. (NYSE:VRE) Drops By 27.4%

Veris Residential, Inc. (NYSE:VRE - Get Free Report) was the recipient of a large decrease in short interest in March. As of March 31st, there was short interest totalling 3,120,000 shares, a decrease of 27.4% from the March 15th total of 4,300,000 shares. Based on an average daily volume of 675,500 shares, the short-interest ratio is currently 4.6 days. Approximately 4.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Veris Residential

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Veris Residential by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 13,026,788 shares of the company's stock worth $148,114,000 after buying an additional 312,498 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Veris Residential by 24.8% during the third quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company's stock valued at $118,411,000 after purchasing an additional 1,425,528 shares in the last quarter. State Street Corp purchased a new position in shares of Veris Residential during the second quarter valued at about $70,860,000. Balyasny Asset Management L.P. grew its position in shares of Veris Residential by 69.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,727,548 shares of the company's stock valued at $27,174,000 after purchasing an additional 705,335 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Veris Residential by 2.8% during the first quarter. Geode Capital Management LLC now owns 1,725,472 shares of the company's stock valued at $25,261,000 after purchasing an additional 47,367 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company's stock.

Veris Residential Price Performance

VRE stock traded down $0.36 during trading on Friday, reaching $14.34. The company's stock had a trading volume of 614,172 shares, compared to its average volume of 700,715. Veris Residential has a 1 year low of $13.06 and a 1 year high of $18.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $1.32 billion, a P/E ratio of -11.78, a price-to-earnings-growth ratio of 2.82 and a beta of 1.23. The company's fifty day moving average is $14.94 and its 200-day moving average is $15.05.

Veris Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Wednesday, April 3rd will be paid a $0.052 dividend. The ex-dividend date is Tuesday, April 2nd. This represents a $0.21 dividend on an annualized basis and a yield of 1.45%. Veris Residential's payout ratio is presently -17.07%.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price objective on Veris Residential from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Tuesday.

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.