Veris Residential, Inc. (NYSE:VRE) Shares Sold by LDR Capital Management LLC

LDR Capital Management LLC reduced its stake in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 23.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,022 shares of the company's stock after selling 34,500 shares during the quarter. Veris Residential makes up approximately 2.3% of LDR Capital Management LLC's investment portfolio, making the stock its 19th largest position. LDR Capital Management LLC owned approximately 0.12% of Veris Residential worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. DigitalBridge Group Inc. purchased a new position in Veris Residential during the 2nd quarter worth $13,673,000. Nordea Investment Management AB bought a new position in shares of Veris Residential during the 1st quarter worth $8,503,000. Daiwa Securities Group Inc. increased its stake in shares of Veris Residential by 1,983.4% during the first quarter. Daiwa Securities Group Inc. now owns 507,104 shares of the company's stock valued at $7,713,000 after buying an additional 482,764 shares during the period. AXA S.A. bought a new stake in shares of Veris Residential in the second quarter valued at about $6,392,000. Finally, Marshall Wace LLP purchased a new stake in Veris Residential in the second quarter worth about $5,502,000. 93.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Veris Residential Stock Up 0.5 %

Shares of NYSE:VRE traded up $0.09 during trading on Tuesday, reaching $17.22. The stock had a trading volume of 179,429 shares, compared to its average volume of 609,537. The firm's 50-day simple moving average is $17.33 and its 200 day simple moving average is $15.89. 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, Inc. has a one year low of $13.06 and a one year high of $18.18. The company has a market capitalization of $1.59 billion, a P/E ratio of -17.22, a PEG ratio of 5.26 and a beta of 1.25.

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

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Veris Residential's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.63%. Veris Residential's dividend payout ratio (DPR) is -28.00%.

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.