Arrowstreet Capital Limited Partnership Decreases Position in Veris Residential, Inc. (NYSE:VRE)

Arrowstreet Capital Limited Partnership decreased its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 16.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 451,175 shares of the company's stock after selling 88,214 shares during the period. Arrowstreet Capital Limited Partnership owned 0.49% of Veris Residential worth $7,503,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its holdings in Veris Residential by 5,945.2% in the 3rd quarter. FMR LLC now owns 224,278 shares of the company's stock valued at $4,006,000 after acquiring an additional 220,568 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Veris Residential by 491.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 616,605 shares of the company's stock valued at $11,013,000 after purchasing an additional 512,406 shares during the period. Point72 Asset Management L.P. acquired a new position in Veris Residential in the third quarter valued at $263,000. Nomura Asset Management Co. Ltd. lifted its position in Veris Residential by 0.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company's stock worth $1,786,000 after buying an additional 900 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Veris Residential by 1.1% during the third quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company's stock worth $2,079,000 after buying an additional 1,220 shares during the period. Institutional investors and hedge funds own 93.04% of the company's stock.

Veris Residential Trading Down 0.3 %

NYSE:VRE traded down $0.05 on Friday, hitting $15.05. 501,242 shares of the stock were exchanged, compared to its average volume of 513,312. The stock has a fifty day moving average of $16.15 and a 200-day moving average of $16.74. The stock has a market cap of $1.40 billion, a PE ratio of -88.52, a PEG ratio of 2.50 and a beta of 1.17. 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 fifty-two week low of $13.84 and a fifty-two week high of $18.85.

Veris Residential (NYSE:VRE - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. The firm had revenue of $68.08 million for the quarter, compared to analysts' expectations of $66.98 million. As a group, equities analysts expect that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Monday, March 31st. Veris Residential's payout ratio is currently -133.33%.

Analyst Upgrades and Downgrades

VRE has been the subject of several recent analyst reports. Truist Financial lifted their price target on Veris Residential from $16.00 to $17.00 and gave the company a "hold" rating in a report on Monday, March 10th. Evercore ISI restated an "in-line" rating and issued a $18.00 target price (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised shares of Veris Residential from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th.

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.