AlphaQuest LLC Has $98,000 Holdings in Veris Residential, Inc. (NYSE:VRE)

AlphaQuest LLC reduced its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 90.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,884 shares of the company's stock after selling 54,958 shares during the period. AlphaQuest LLC's holdings in Veris Residential were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRE. GSA Capital Partners LLP acquired a new stake in Veris Residential in the 3rd quarter valued at $445,000. Victory Capital Management Inc. increased its stake in shares of Veris Residential by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,200,470 shares of the company's stock worth $21,440,000 after purchasing an additional 6,421 shares during the last quarter. Natixis Advisors LLC acquired a new position in shares of Veris Residential during the 3rd quarter worth about $203,000. Quest Partners LLC increased its stake in shares of Veris Residential by 302.8% during the 3rd quarter. Quest Partners LLC now owns 60,842 shares of the company's stock worth $1,087,000 after purchasing an additional 45,737 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Veris Residential by 60.7% during the 3rd quarter. Intech Investment Management LLC now owns 23,386 shares of the company's stock worth $418,000 after purchasing an additional 8,837 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRE. Evercore ISI restated an "in-line" rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a research note on Wednesday, February 26th. Truist Financial boosted their price objective on shares of Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. upgraded shares of Veris Residential from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $14.00 to $17.00 in a research note on Tuesday, December 17th.

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Veris Residential Stock Performance

VRE traded down $0.02 on Friday, reaching $16.29. The company had a trading volume of 1,047,010 shares, compared to its average volume of 485,690. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The stock has a market cap of $1.51 billion, a P/E ratio of -95.80, a P/E/G ratio of 2.50 and a beta of 1.24. The company's fifty day moving average is $16.10 and its 200 day moving average is $16.92. 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 (NYSE:VRE - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.01). Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. The company had revenue of $68.08 million during the quarter, compared to analyst estimates of $66.98 million. As a group, analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current fiscal year.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.96%. Veris Residential's dividend payout ratio (DPR) is currently -133.33%.

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.