Short Interest in Veris Residential, Inc. (NYSE:VRE) Declines By 23.0%

Veris Residential, Inc. (NYSE:VRE - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,080,000 shares, a decline of 23.0% from the March 15th total of 2,700,000 shares. Approximately 2.3% of the company's shares are sold short. Based on an average daily volume of 461,600 shares, the short-interest ratio is presently 4.5 days.

Institutional Trading of Veris Residential

Several institutional investors have recently added to or reduced their stakes in VRE. Barclays PLC grew its position in Veris Residential by 56.6% during the third quarter. Barclays PLC now owns 320,268 shares of the company's stock worth $5,720,000 after buying an additional 115,713 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Veris Residential by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company's stock worth $35,743,000 after purchasing an additional 21,133 shares during the period. Tidal Investments LLC acquired a new position in Veris Residential in the third quarter valued at about $397,000. JPMorgan Chase & Co. boosted its position in shares of Veris Residential by 11.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company's stock worth $37,557,000 after acquiring an additional 219,901 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Veris Residential by 5.0% during the 4th quarter. Inspire Investing LLC now owns 24,297 shares of the company's stock worth $404,000 after buying an additional 1,149 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Down 1.7 %

Shares of VRE traded down $0.27 during mid-day trading on Thursday, hitting $15.81. 723,917 shares of the company's stock were exchanged, compared to its average volume of 517,332. The company has a 50-day simple moving average of $16.09 and a 200 day simple moving average of $16.62. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $1.47 billion, a PE ratio of -92.99, a P/E/G ratio of 2.50 and a beta of 1.17. Veris Residential 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 earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $67.76 million for the quarter, compared to analyst estimates of $69.24 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. On average, research analysts forecast that Veris Residential will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, March 31st. Veris Residential's dividend payout ratio is presently -133.33%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial increased their price target on Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th.

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.