Renaissance Technologies LLC Has $1.27 Million Stake in Veris Residential, Inc. (NYSE:VRE)

Renaissance Technologies LLC lifted its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 387.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,800 shares of the company's stock after acquiring an additional 67,400 shares during the period. Renaissance Technologies LLC owned about 0.09% of Veris Residential worth $1,272,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Veris Residential by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 12,439,064 shares of the company's stock worth $189,198,000 after buying an additional 88,634 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Veris Residential by 1.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,194,049 shares of the company's stock worth $17,911,000 after purchasing an additional 13,943 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Veris Residential by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,843 shares of the company's stock worth $17,217,000 after purchasing an additional 65,180 shares during the last quarter. Bank of New York Mellon Corp increased its position in Veris Residential by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 751,050 shares of the company's stock worth $11,266,000 after buying an additional 5,012 shares during the period. Finally, Nordea Investment Management AB acquired a new position in shares of Veris Residential during the first quarter valued at $8,503,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Price Performance

VRE traded down $0.05 on Friday, reaching $17.49. The company had a trading volume of 290,097 shares, compared to its average volume of 631,785. Veris Residential, Inc. has a one year low of $13.06 and a one year high of $18.18. The company has a market capitalization of $1.62 billion, a P/E ratio of -17.49, a PEG ratio of 6.73 and a beta of 1.25. The company has a fifty day moving average of $16.99 and a 200-day moving average of $15.70. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.33.

Veris Residential (NYSE:VRE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.11). The company had revenue of $67.48 million for the quarter, compared to analyst estimates of $67.73 million. Veris Residential had a negative net margin of 21.79% and a negative return on equity of 8.55%. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, equities research analysts anticipate that Veris Residential, Inc. will post 0.55 earnings per share for the current year.

Veris Residential Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. 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 boosted their price objective on Veris Residential from $17.00 to $19.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 28th. Finally, Truist Financial decreased their price objective on Veris Residential from $15.00 to $14.00 and set a "hold" rating for the company in a report on Monday, June 24th.

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.