Veris Residential, Inc. (NYSE:VRE) Short Interest Down 23.0% in March

Veris Residential, Inc. (NYSE:VRE) was the recipient of a large decrease in short interest in 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 stock are sold short. Based on an average trading volume of 461,600 shares, the short-interest ratio is presently 4.5 days.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Truist Financial raised their price objective on Veris Residential from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Monday, March 10th. Evercore ISI reissued an “in-line” rating and set a $18.00 price objective (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Argosy Lionbridge Management LLC acquired a new position in shares of Veris Residential during the 4th quarter valued at about $19,028,000. Northern Trust Corp lifted its stake 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 worth $25,360,000 after acquiring an additional 501,867 shares during the period. 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 buying an additional 353,540 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Veris Residential by 51.7% during 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 acquiring an additional 332,381 shares during the period. Finally, Vanguard Group Inc. boosted its position 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 worth $211,157,000 after buying an additional 331,354 shares in the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Veris Residential Price Performance

NYSE VRE traded down $0.30 during trading hours on Monday, reaching $15.58. The company’s stock had a trading volume of 326,467 shares, compared to its average volume of 470,258. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -91.64, a PEG ratio of 2.50 and a beta of 1.17. The firm’s 50-day moving average price is $16.09 and its 200-day moving average price is $16.65. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential has a 1 year low of $13.84 and a 1 year high of $18.85.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $68.08 million for the quarter, compared to the consensus estimate of $66.98 million. Veris Residential had a negative net margin of 5.70% and a negative return on equity of 4.97%. On average, equities research analysts predict that Veris Residential will post 0.61 EPS for the current fiscal year.

Veris Residential Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.05%. Veris Residential’s payout ratio is -133.33%.

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.