LDR Capital Management LLC Sells 34,500 Shares of Veris Residential, Inc. (NYSE:VRE)

LDR Capital Management LLC cut its position in Veris Residential, Inc. (NYSE:VRE) by 23.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,022 shares of the company’s stock after selling 34,500 shares during the quarter. Veris Residential accounts for about 2.3% of LDR Capital Management LLC’s holdings, making the stock its 19th biggest holding. LDR Capital Management LLC owned about 0.12% of Veris Residential worth $2,054,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in Veris Residential by 417.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company’s stock valued at $41,000 after purchasing an additional 2,167 shares during the last quarter. Quarry LP bought a new position in Veris Residential in the second quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Veris Residential in the second quarter valued at about $48,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Veris Residential in the first quarter valued at about $152,000. Finally, Quadrature Capital Ltd bought a new position in Veris Residential in the first quarter valued at about $156,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Trading Down 3.0 %

NYSE VRE opened at $17.13 on Tuesday. The business has a 50 day simple moving average of $17.33 and a 200 day simple moving average of $15.89. Veris Residential, Inc. has a one year low of $13.06 and a one year high of $18.18. The stock has a market capitalization of $1.59 billion, a P/E ratio of -17.13, a P/E/G ratio of 5.26 and a beta of 1.25. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.84 and a quick ratio of 0.84.

Veris Residential (NYSE:VRE) last released its earnings results on Wednesday, July 24th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.11). Veris Residential had a negative return on equity of 8.55% and a negative net margin of 21.79%. The business had revenue of $67.48 million for the quarter, compared to analyst estimates of $67.73 million. During the same period in the prior year, the business earned $0.16 EPS. Research analysts expect that Veris Residential, Inc. will post 0.55 earnings per share for the current year.

Veris Residential Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th were given a $0.07 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Veris Residential’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.63%. Veris Residential’s payout ratio is -28.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on VRE. Evercore ISI raised their price objective on Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Truist Financial lowered their price objective on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. raised their price objective on Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, September 16th.

About Veris Residential

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.