Veris Residential, Inc. (NYSE:VRE) Short Interest Update

Veris Residential, Inc. (NYSE:VRE - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 2,080,000 shares, a decrease of 23.0% from the March 15th total of 2,700,000 shares. Approximately 2.3% of the company's shares are short sold. Based on an average daily trading volume, of 461,600 shares, the short-interest ratio is currently 4.5 days.

Veris Residential Trading Up 1.0 %

Shares of VRE stock traded up $0.16 during trading hours on Wednesday, hitting $16.26. The company had a trading volume of 9,005 shares, compared to its average volume of 515,923. The stock has a market capitalization of $1.51 billion, a PE ratio of -95.64, a price-to-earnings-growth ratio of 2.50 and a beta of 1.17. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. Veris Residential has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The company's fifty day moving average is $16.09 and its 200 day moving average is $16.64.

Veris Residential (NYSE:VRE - Get Free Report) last released its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $68.08 million for the quarter, compared to analyst estimates of $66.98 million. Veris Residential had a negative return on equity of 4.97% and a negative net margin of 5.70%. Research analysts expect that Veris Residential 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 dividend of $0.08 per share. The ex-dividend date was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.97%. Veris Residential's dividend payout ratio is currently -133.33%.

Institutional Trading of Veris Residential

Several institutional investors and hedge funds have recently made changes to their positions in VRE. Argosy Lionbridge Management LLC purchased a new stake in shares of Veris Residential in the 4th quarter valued at about $19,028,000. Northern Trust Corp lifted its holdings in shares of Veris Residential by 49.1% in the 4th quarter. Northern Trust Corp now owns 1,524,968 shares of the company's stock valued at $25,360,000 after purchasing an additional 501,867 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Veris Residential by 62.1% in the 4th quarter. Woodline Partners LP now owns 922,515 shares of the company's stock valued at $15,341,000 after purchasing an additional 353,540 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Veris Residential by 51.7% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 975,262 shares of the company's stock valued at $16,219,000 after purchasing an additional 332,381 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Veris Residential by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 12,697,341 shares of the company's stock valued at $211,157,000 after purchasing an additional 331,354 shares during the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VRE. Truist Financial upped their price objective on shares of Veris Residential from $16.00 to $17.00 and gave the stock a "hold" rating in a report on Monday, March 10th. Evercore ISI restated an "in-line" rating and issued a $18.00 price objective (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

Veris Residential Company 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.