Lighthouse Investment Partners LLC Buys 472,932 Shares of Veris Residential, Inc. $VRE

Lighthouse Investment Partners LLC lifted its position in Veris Residential, Inc. (NYSE:VRE) by 4,112.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,432 shares of the company’s stock after acquiring an additional 472,932 shares during the quarter. Lighthouse Investment Partners LLC owned approximately 0.52% of Veris Residential worth $7,363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in VRE. Royal Bank of Canada lifted its position in shares of Veris Residential by 26.6% during the first quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock valued at $292,000 after purchasing an additional 3,623 shares in the last quarter. AQR Capital Management LLC grew its position in Veris Residential by 88.8% in the 1st quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock worth $911,000 after purchasing an additional 25,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Veris Residential by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock valued at $790,000 after buying an additional 2,064 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Veris Residential by 72.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock valued at $17,033,000 after buying an additional 423,482 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Veris Residential by 234.4% during the 1st quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock worth $1,926,000 after buying an additional 79,802 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Ratings Changes

VRE has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a report on Monday, December 29th. Wall Street Zen lowered Veris Residential from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.67.

Veris Residential Stock Performance

NYSE VRE opened at $18.88 on Tuesday. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $18.91. The company has a 50-day simple moving average of $16.58 and a 200 day simple moving average of $15.55. 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 company has a market capitalization of $1.76 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20.

Veris Residential (NYSE:VRE) last released its earnings results on Monday, February 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. The firm had revenue of $71.31 million for the quarter, compared to analysts’ expectations of $70.85 million. On average, research analysts predict that Veris Residential, Inc. will post 0.61 EPS for the current year.

Veris Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 31st. Veris Residential’s dividend payout ratio is currently 40.00%.

Veris Residential 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.