Veris Residential, Inc. (NYSE:VRE) Shares Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its position in Veris Residential, Inc. (NYSE:VRE) by 161.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,500 shares of the company’s stock after acquiring an additional 23,800 shares during the period. Point72 Asset Management L.P.’s holdings in Veris Residential were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VRE. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Veris Residential by 51.7% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company’s stock worth $16,219,000 after acquiring an additional 332,381 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Veris Residential in the 4th quarter valued at about $1,737,000. Asset Management One Co. Ltd. lifted its stake in Veris Residential by 5.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 122,034 shares of the company’s stock worth $2,009,000 after purchasing an additional 6,287 shares in the last quarter. abrdn plc lifted its stake in Veris Residential by 90.3% in the 4th quarter. abrdn plc now owns 29,821 shares of the company’s stock worth $490,000 after purchasing an additional 14,150 shares in the last quarter. Finally, Amundi lifted its stake in Veris Residential by 43.3% in the 4th quarter. Amundi now owns 81,250 shares of the company’s stock worth $1,272,000 after purchasing an additional 24,570 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Veris Residential Stock Performance

NYSE:VRE opened at $14.78 on Friday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -86.91, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a fifty day simple moving average of $15.78 and a two-hundred day simple moving average of $16.40. Veris Residential, Inc. has a 52 week low of $13.84 and a 52 week high of $18.85. 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 (NYSE:VRE) last released its quarterly earnings data 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 during 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, equities analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Monday, March 31st were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 2.17%. Veris Residential’s dividend payout ratio (DPR) is presently -100.00%.

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.