DigitalBridge Group Inc. Has $7.31 Million Holdings in Veris Residential, Inc. (NYSE:VRE)

DigitalBridge Group Inc. cut its position in Veris Residential, Inc. (NYSE:VRE) by 45.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,341 shares of the company’s stock after selling 369,974 shares during the quarter. DigitalBridge Group Inc. owned about 0.47% of Veris Residential worth $7,306,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in shares of Veris Residential during the 4th quarter worth approximately $25,000. Covestor Ltd raised its position in shares of Veris Residential by 11,246.7% in the fourth quarter. Covestor Ltd now owns 1,702 shares of the company’s stock valued at $28,000 after purchasing an additional 1,687 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Veris Residential by 824.6% during the 4th quarter. Sterling Capital Management LLC now owns 2,515 shares of the company’s stock worth $42,000 after buying an additional 2,243 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in Veris Residential in the 4th quarter valued at about $45,000. Finally, State of Wyoming acquired a new stake in Veris Residential during the fourth quarter worth approximately $52,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Veris Residential Stock Performance

NYSE:VRE opened at $14.59 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The company has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $16.39. The company has a market capitalization of $1.36 billion, a PE ratio of -85.79, a P/E/G ratio of 2.50 and a beta of 1.24.

Veris Residential (NYSE:VRE) last announced its earnings results on Wednesday, April 23rd. The company reported $0.16 EPS for the quarter, beating the consensus estimate 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%. Research analysts anticipate that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

Veris Residential Dividend Announcement

The company 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 dividend yield of 2.19%. The ex-dividend date was Monday, March 31st. Veris Residential’s 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.