D. E. Shaw & Co. Inc. Has $7.24 Million Stake in Veris Residential, Inc. (NYSE:VRE)

D. E. Shaw & Co. Inc. raised its holdings in Veris Residential, Inc. (NYSE:VRE) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 435,500 shares of the company’s stock after acquiring an additional 32,350 shares during the period. D. E. Shaw & Co. Inc. owned about 0.47% of Veris Residential worth $7,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC boosted its position in shares of 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 during the period. Inspire Investing LLC boosted its position in shares of Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company’s stock worth $404,000 after buying an additional 1,149 shares during the period. Vert Asset Management LLC boosted its position in shares of Veris Residential by 15.8% during the fourth quarter. Vert Asset Management LLC now owns 36,688 shares of the company’s stock worth $610,000 after buying an additional 4,998 shares during the period. abrdn plc boosted its position in shares of Veris Residential by 90.3% during the fourth quarter. abrdn plc now owns 29,821 shares of the company’s stock worth $490,000 after buying an additional 14,150 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Veris Residential by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 14,870 shares of the company’s stock worth $247,000 after buying an additional 1,378 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on VRE. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research report on Wednesday, February 26th. Truist Financial dropped their target price on Veris Residential from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, May 5th.

Veris Residential Price Performance

Shares of NYSE VRE opened at $15.52 on Friday. The firm has a market cap of $1.45 billion, a P/E ratio of -91.29, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The business’s 50 day moving average is $15.88 and its 200-day moving average is $16.45.

Veris Residential (NYSE:VRE) last announced its earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company 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%. Equities research analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Monday, March 31st. Veris Residential’s dividend payout ratio is currently -100.00%.

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.