Veris Residential, Inc. (NYSE:VRE) Short Interest Update

Veris Residential, Inc. (NYSE:VRE - Get Free Report) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 4,150,000 shares, an increase of 33.0% from the March 31st total of 3,120,000 shares. Based on an average trading volume of 600,000 shares, the days-to-cover ratio is currently 6.9 days. Currently, 5.3% of the company's shares are short sold.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered their price target on Veris Residential from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Tuesday, April 9th.

Veris Residential Trading Down 0.8 %

Shares of VRE stock traded down $0.11 on Friday, reaching $14.54. The company had a trading volume of 502,156 shares, compared to its average volume of 515,302. The company has a current ratio of 2.35, a quick ratio of 1.01 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.35 billion, a PE ratio of -14.54, a PEG ratio of 2.85 and a beta of 1.23. The company has a 50-day moving average of $14.79 and a 200-day moving average of $14.90. Veris Residential has a 12 month low of $13.06 and a 12 month high of $18.98.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd were paid a dividend of $0.052 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.21 dividend on an annualized basis and a yield of 1.43%. Veris Residential's payout ratio is -21.00%.

Institutional Trading of Veris Residential

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Veris Residential by 417.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company's stock worth $41,000 after purchasing an additional 2,167 shares in the last quarter. Van ECK Associates Corp boosted its position in Veris Residential by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 11,088 shares of the company's stock worth $174,000 after acquiring an additional 1,823 shares during the last quarter. New York Life Investment Management LLC acquired a new position in Veris Residential during the 4th quarter worth approximately $219,000. SG Americas Securities LLC boosted its position in Veris Residential by 60.7% during the 4th quarter. SG Americas Securities LLC now owns 14,051 shares of the company's stock worth $221,000 after acquiring an additional 5,309 shares during the last quarter. Finally, abrdn plc boosted its position in Veris Residential by 11.4% during the 3rd quarter. abrdn plc now owns 17,377 shares of the company's stock worth $287,000 after acquiring an additional 1,774 shares during the last quarter. 93.04% of the stock is owned by institutional investors.

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.