Dimensional Fund Advisors LP Has $17.22 Million Stock Position in Veris Residential, Inc. (NYSE:VRE)

Dimensional Fund Advisors LP lifted its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,147,843 shares of the company's stock after acquiring an additional 65,180 shares during the period. Dimensional Fund Advisors LP owned about 1.24% of Veris Residential worth $17,217,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VRE. Allspring Global Investments Holdings LLC grew its holdings in shares of Veris Residential by 417.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company's stock valued at $41,000 after purchasing an additional 2,167 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Veris Residential in the first quarter worth $152,000. Quadrature Capital Ltd bought a new stake in Veris Residential in the first quarter valued at $156,000. Cornerstone Investment Partners LLC acquired a new position in shares of Veris Residential during the first quarter valued at $167,000. Finally, Van ECK Associates Corp grew its position in shares of Veris Residential by 5.8% during the second quarter. Van ECK Associates Corp now owns 12,011 shares of the company's stock worth $180,000 after acquiring an additional 663 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on VRE shares. JPMorgan Chase & Co. lifted their price objective on shares of Veris Residential from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Monday, September 16th. Evercore ISI increased their price objective on Veris Residential from $17.00 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th. Finally, Truist Financial cut their target price on Veris Residential from $15.00 to $14.00 and set a "hold" rating on the stock in a research note on Monday, June 24th.

Veris Residential Price Performance

Shares of VRE traded down $0.05 during midday trading on Friday, reaching $17.49. The stock had a trading volume of 290,097 shares, compared to its average volume of 631,785. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.62 billion, a P/E ratio of -17.49, a P/E/G ratio of 6.73 and a beta of 1.25. The firm's 50 day moving average price is $16.99 and its 200-day moving average price is $15.70. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.18.

Veris Residential (NYSE:VRE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.11). The business had revenue of $67.48 million during the quarter, compared to the consensus estimate of $67.73 million. Veris Residential had a negative return on equity of 8.55% and a negative net margin of 21.79%. During the same quarter last year, the firm posted $0.16 earnings per share. On average, analysts forecast that Veris Residential, Inc. will post 0.55 earnings per share for the current fiscal year.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.60%. This is an increase from Veris Residential's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Monday, September 30th. Veris Residential's dividend payout ratio is currently -28.00%.

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.