3,175 Shares in Veris Residential, Inc. (NYSE:VRE) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veris Residential, Inc. (NYSE:VRE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,175 shares of the company’s stock, valued at approximately $48,000.

Several other large investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Veris Residential during the second quarter worth approximately $48,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Veris Residential during the second quarter worth approximately $2,175,000. The Manufacturers Life Insurance Company grew its holdings in Veris Residential by 4.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,070 shares of the company’s stock valued at $601,000 after buying an additional 1,681 shares in the last quarter. DigitalBridge Group Inc. purchased a new stake in Veris Residential in the 2nd quarter valued at $13,673,000. Finally, AXA S.A. purchased a new stake in Veris Residential in the 2nd quarter valued at $6,392,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Veris Residential Stock Performance

Shares of Veris Residential stock opened at $17.49 on Friday. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.18. The business’s fifty day simple moving average is $16.99 and its 200-day simple moving average is $15.70. The firm has a market cap of $1.62 billion, a PE ratio of -17.49, a price-to-earnings-growth ratio of 6.73 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.33.

Veris Residential (NYSE:VRE) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.02 EPS 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 business had revenue of $67.48 million during the quarter, compared to analyst estimates of $67.73 million. During the same period last year, the company earned $0.16 EPS. Equities analysts forecast that Veris Residential, Inc. will post 0.55 earnings per share for the current year.

Veris Residential Increases Dividend

The firm also recently declared 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 of this dividend is Monday, September 30th. This is a positive change from Veris Residential’s previous quarterly dividend of $0.06. Veris Residential’s dividend payout ratio is -28.00%.

Analyst Ratings Changes

VRE has been the subject of several analyst reports. Evercore ISI upped their target price on Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. upped their target price on Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, September 16th. Finally, Truist Financial dropped their target price 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 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.