Veris Residential, Inc. (NYSE:VRE) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Veris Residential, Inc. (NYSE:VRE) by 387.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 84,800 shares of the company’s stock after buying an additional 67,400 shares during the period. Renaissance Technologies LLC owned about 0.09% of Veris Residential worth $1,272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB acquired a new stake in Veris Residential during the 1st quarter worth about $8,503,000. Daiwa Securities Group Inc. lifted its stake in shares of Veris Residential by 1,983.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 507,104 shares of the company’s stock valued at $7,713,000 after purchasing an additional 482,764 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Veris Residential in the 4th quarter valued at $2,956,000. Hazelview Securities Inc. bought a new position in Veris Residential during the first quarter valued at about $2,678,000. Finally, B&I Capital AG raised its stake in shares of Veris Residential by 30.8% in the 2nd quarter. B&I Capital AG now owns 539,390 shares of the company’s stock valued at $8,091,000 after acquiring an additional 127,100 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, September 16th. 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 note on Wednesday, August 28th. Finally, Truist Financial lowered their target price on Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, June 24th.

Veris Residential Stock Performance

Shares of NYSE VRE opened at $17.49 on Friday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -17.49, a PEG ratio of 6.73 and a beta of 1.25. Veris Residential, Inc. has a one year low of $13.06 and a one year high of $18.18. The business has a fifty day simple moving average of $16.99 and a 200 day simple 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) last released 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). Veris Residential had a negative return on equity of 8.55% and a negative net margin of 21.79%. The business had revenue of $67.48 million for the quarter, compared to the consensus estimate of $67.73 million. During the same period in the previous year, the business posted $0.16 earnings per share. Sell-side analysts expect that Veris Residential, Inc. will post 0.55 EPS for the current year.

Veris Residential Increases Dividend

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