Madison International Realty Holdings LLC Sells 1,500,000 Shares of Veris Residential, Inc. $VRE

Madison International Realty Holdings LLC decreased its position in shares of Veris Residential, Inc. (NYSE:VRE) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,689,120 shares of the company’s stock after selling 1,500,000 shares during the quarter. Veris Residential makes up about 100.0% of Madison International Realty Holdings LLC’s portfolio, making the stock its biggest holding. Madison International Realty Holdings LLC owned approximately 3.95% of Veris Residential worth $54,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of VRE. GAMMA Investing LLC boosted its position in shares of Veris Residential by 71.1% during the 4th quarter. GAMMA Investing LLC now owns 1,954 shares of the company’s stock valued at $29,000 after acquiring an additional 812 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Veris Residential by 720.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock valued at $32,000 after acquiring an additional 1,872 shares during the last quarter. Covestor Ltd lifted its position in Veris Residential by 29.0% in the third quarter. Covestor Ltd now owns 3,270 shares of the company’s stock valued at $49,000 after buying an additional 736 shares during the last quarter. Quarry LP lifted its position in Veris Residential by 746.6% in the third quarter. Quarry LP now owns 4,326 shares of the company’s stock valued at $66,000 after buying an additional 3,815 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in Veris Residential by 49.5% in the third quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock valued at $128,000 after buying an additional 2,780 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Stock Up 0.0%

Shares of VRE opened at $18.99 on Wednesday. The stock has a market capitalization of $1.78 billion, a PE ratio of 24.66, a P/E/G ratio of 3.15 and a beta of 1.07. Veris Residential, Inc. has a 1 year low of $13.69 and a 1 year high of $19.03. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.57 and a current ratio of 0.57. The company’s 50-day simple moving average is $18.92 and its 200-day simple moving average is $16.71.

Veris Residential (NYSE:VRE) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.33). The business had revenue of $70.10 million for the quarter, compared to analyst estimates of $68.06 million. Veris Residential had a return on equity of 5.34% and a net margin of 24.30%. Analysts forecast that Veris Residential, Inc. will post 0.78 earnings per share for the current fiscal year.

Veris Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 31st. Veris Residential’s dividend payout ratio is currently 41.56%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on VRE shares. Truist Financial upped their target price on shares of Veris Residential from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Tuesday, March 24th. Citigroup upped their target price on shares of Veris Residential from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Finally, Wall Street Zen cut shares of Veris Residential from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Veris Residential currently has an average rating of “Hold” and a consensus price target of $19.50.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.