Veris Residential, Inc. (NYSE:VRE) Short Interest Update

Veris Residential, Inc. (NYSE:VRE) saw a large decline in short interest in February. As of February 27th, there was short interest totaling 1,651,869 shares, a decline of 32.0% from the February 12th total of 2,429,792 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 4,274,004 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 4,274,004 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.1% of the company’s shares are sold short.

Veris Residential Stock Performance

Veris Residential stock traded down $0.02 during trading hours on Friday, reaching $18.87. 234,913 shares of the stock were exchanged, compared to its average volume of 1,563,382. Veris Residential has a 52-week low of $13.69 and a 52-week high of $18.89. The stock has a market cap of $1.76 billion, a P/E ratio of 23.58, a P/E/G ratio of 3.32 and a beta of 1.21. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s 50 day moving average is $16.42 and its 200 day moving average is $15.49.

Veris Residential (NYSE:VRE) last issued its earnings results on Monday, February 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. The business had revenue of $71.31 million for the quarter, compared to the consensus estimate of $70.85 million. 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 will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Veris Residential’s dividend payout ratio (DPR) is currently 40.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRE. GAMMA Investing LLC increased its holdings in Veris Residential by 71.1% in the fourth quarter. GAMMA Investing LLC now owns 1,954 shares of the company’s stock valued at $29,000 after buying an additional 812 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Veris Residential by 720.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock worth $32,000 after acquiring an additional 1,872 shares during the period. Covestor Ltd grew its holdings in shares of Veris Residential by 29.0% in the 3rd quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares during the period. Quarry LP increased its stake in Veris Residential by 746.6% in the 3rd quarter. Quarry LP now owns 4,326 shares of the company’s stock valued at $66,000 after purchasing an additional 3,815 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its holdings in Veris Residential by 21.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 6,030 shares of the company’s stock worth $90,000 after purchasing an additional 1,078 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on VRE. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. Wall Street Zen lowered shares of Veris Residential from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.67.

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.