A. Akiva Katz Sells 100,000 Shares of Veris Residential, Inc. (NYSE:VRE) Stock

Veris Residential, Inc. (NYSE:VRE) Director A. Akiva Katz sold 100,000 shares of Veris Residential stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $18.83, for a total transaction of $1,883,000.00. Following the sale, the director now directly owns 5,206,537 shares of the company’s stock, valued at approximately $98,039,091.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Veris Residential Stock Performance

NYSE VRE opened at $18.36 on Friday. The company has a quick ratio of 7.26, a current ratio of 7.26 and a debt-to-equity ratio of 1.35. The stock has a fifty day simple moving average of $17.53 and a 200 day simple moving average of $16.45. Veris Residential, Inc. has a twelve month low of $10.22 and a twelve month high of $18.98. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -13.91, a PEG ratio of 1.48 and a beta of 1.17.

Veris Residential Announces Dividend

The firm also recently declared a Variable dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Saturday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a yield of 1.1%. Veris Residential’s payout ratio is currently -3.79%.

Institutional Trading of Veris Residential

A number of large investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY grew its stake in shares of Veris Residential by 9.2% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,763 shares of the company’s stock valued at $124,000 after buying an additional 651 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Veris Residential by 2.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,676 shares of the company’s stock valued at $595,000 after acquiring an additional 813 shares in the last quarter. Arizona State Retirement System lifted its position in Veris Residential by 3.9% in the 4th quarter. Arizona State Retirement System now owns 21,845 shares of the company’s stock valued at $348,000 after acquiring an additional 818 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Veris Residential by 53.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock valued at $45,000 after acquiring an additional 981 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in Veris Residential by 5.3% in the 2nd quarter. Inspire Investing LLC now owns 19,753 shares of the company’s stock valued at $317,000 after acquiring an additional 993 shares in the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Veris Residential from a “hold” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $19.00 in a research report on Tuesday, May 16th. Evercore ISI upgraded shares of Veris Residential from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $19.00 in a research report on Thursday, July 27th. Finally, Truist Financial upped their target price on shares of Veris Residential from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

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.