Veris Residential, Inc. (NYSE:VRE) Short Interest Down 27.4% in March

Veris Residential, Inc. (NYSE:VREGet Free Report) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,120,000 shares, a drop of 27.4% from the March 15th total of 4,300,000 shares. Based on an average daily volume of 675,500 shares, the days-to-cover ratio is presently 4.6 days. Approximately 4.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Truist Financial dropped their target price on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Tuesday.

View Our Latest Report on Veris Residential

Veris Residential Stock Performance

Veris Residential stock traded down $0.33 on Friday, hitting $14.37. The company’s stock had a trading volume of 614,172 shares, compared to its average volume of 469,481. The firm has a market cap of $1.33 billion, a P/E ratio of -11.68, a price-to-earnings-growth ratio of 2.83 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.45. The company has a fifty day moving average price of $14.92 and a 200-day moving average price of $15.03. Veris Residential has a one year low of $13.06 and a one year high of $18.98.

Veris Residential Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Wednesday, April 3rd will be paid a $0.052 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.21 annualized dividend and a dividend yield of 1.45%. Veris Residential’s dividend payout ratio is presently -17.07%.

Institutional Investors Weigh In On Veris Residential

Several institutional investors and hedge funds have recently made changes to their positions in VRE. Nomura Holdings Inc. bought a new stake in Veris Residential during the 4th quarter worth about $2,956,000. Legal & General Group Plc grew its holdings in Veris Residential by 5.0% during the 4th quarter. Legal & General Group Plc now owns 689,509 shares of the company’s stock worth $10,846,000 after acquiring an additional 33,000 shares during the last quarter. Barclays PLC grew its holdings in Veris Residential by 140.9% during the 4th quarter. Barclays PLC now owns 141,711 shares of the company’s stock worth $2,230,000 after acquiring an additional 82,897 shares during the last quarter. Perpetual Ltd grew its holdings in Veris Residential by 135.7% during the 4th quarter. Perpetual Ltd now owns 37,290 shares of the company’s stock worth $587,000 after acquiring an additional 21,470 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Veris Residential by 68.2% during the 4th quarter. Public Sector Pension Investment Board now owns 166,500 shares of the company’s stock worth $2,619,000 after acquiring an additional 67,502 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Company Profile

(Get Free Report)

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.

Further Reading

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