Russell Investments Group Ltd. Acquires 1,012 Shares of Veris Residential, Inc. (NYSE:VRE)

Russell Investments Group Ltd. grew its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,999 shares of the company’s stock after buying an additional 1,012 shares during the quarter. Russell Investments Group Ltd.’s holdings in Veris Residential were worth $410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp bought a new stake in shares of Veris Residential in the 2nd quarter valued at about $70,860,000. Norges Bank bought a new position in Veris Residential during the fourth quarter worth $17,808,000. Northern Trust Corp acquired a new position in shares of Veris Residential in the second quarter valued at $13,575,000. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Veris Residential in the fourth quarter valued at about $11,748,000. Finally, Legal & General Group Plc acquired a new stake in shares of Veris Residential during the 2nd quarter worth about $8,578,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Insider Buying and Selling at Veris Residential

In related news, Director A. Akiva Katz sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the transaction, the director now owns 5,206,537 shares in the company, valued at approximately $98,039,091.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.00% of the company’s stock.

Wall Street Analyst Weigh In

Several 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 increased their price target for the company from $15.00 to $19.00 in a report on Tuesday, May 16th. Evercore ISI raised shares of Veris Residential from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $19.00 in a research report on Thursday, July 27th. Finally, Truist Financial increased 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Veris Residential Trading Down 1.3 %

NYSE:VRE opened at $18.36 on Monday. Veris Residential, Inc. has a 12 month low of $10.22 and a 12 month high of $18.98. The firm’s 50 day moving average is $17.53 and its 200 day moving average is $16.45. The company has a current ratio of 7.26, a quick ratio of 7.26 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $1.69 billion, a PE ratio of -13.91, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17.

Veris Residential Announces Dividend

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

Veris Residential Profile

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.