GAMMA Investing LLC Has $386,000 Stake in Veris Residential, Inc. (NYSE:VRE)

GAMMA Investing LLC lifted its stake in Veris Residential, Inc. (NYSE:VRE) by 1,629.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,808 shares of the company’s stock after purchasing an additional 21,489 shares during the quarter. GAMMA Investing LLC’s holdings in Veris Residential were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. California State Teachers Retirement System lifted its holdings in shares of Veris Residential by 10.3% during the 4th quarter. California State Teachers Retirement System now owns 77,804 shares of the company’s stock valued at $1,294,000 after buying an additional 7,276 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Veris Residential during the 4th quarter valued at $25,000. CTC Alternative Strategies Ltd. acquired a new stake in Veris Residential during the fourth quarter worth about $175,000. Woodline Partners LP lifted its holdings in shares of Veris Residential by 62.1% during the 4th quarter. Woodline Partners LP now owns 922,515 shares of the company’s stock worth $15,341,000 after acquiring an additional 353,540 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in shares of Veris Residential by 25.4% in the 4th quarter. Squarepoint Ops LLC now owns 37,611 shares of the company’s stock worth $625,000 after purchasing an additional 7,611 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VRE. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price target (down from $20.00) on shares of Veris Residential in a report on Wednesday, February 26th. Truist Financial cut their price objective on shares of Veris Residential from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Monday, May 5th.

Veris Residential Stock Up 0.4%

Shares of VRE stock opened at $14.94 on Friday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -46.67, a PEG ratio of 1.67 and a beta of 1.23. The firm’s 50-day moving average is $15.34 and its 200-day moving average is $15.98. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.56 and a current ratio of 0.56.

Veris Residential (NYSE:VRE) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Veris Residential had a negative net margin of 11.02% and a negative return on equity of 2.62%. The firm had revenue of $67.76 million during the quarter, compared to the consensus estimate of $69.24 million. Sell-side analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Monday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 2.14%. Veris Residential’s dividend payout ratio is currently -100.00%.

Veris Residential 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.