SG Americas Securities LLC Buys 5,309 Shares of Veris Residential, Inc. (NYSE:VRE)

SG Americas Securities LLC lifted its stake in Veris Residential, Inc. (NYSE:VRE) by 60.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,051 shares of the company’s stock after purchasing an additional 5,309 shares during the quarter. SG Americas Securities LLC’s holdings in Veris Residential were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its position in shares of Veris Residential by 371.5% during the first quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the company’s stock worth $33,000 after purchasing an additional 1,783 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Veris Residential by 53.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock worth $45,000 after purchasing an additional 981 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Veris Residential during the second quarter worth about $61,000. M&T Bank Corp purchased a new stake in shares of Veris Residential during the third quarter worth about $115,000. Finally, Metropolitan Life Insurance Co NY grew its position in shares of Veris Residential by 9.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,763 shares of the company’s stock worth $124,000 after purchasing an additional 651 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.

Veris Residential Trading Down 2.4 %

VRE stock opened at $14.34 on Friday. The firm has a fifty day moving average price of $14.92 and a 200 day moving average price of $15.04. Veris Residential, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $18.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $1.32 billion, a PE ratio of -11.66, a price-to-earnings-growth ratio of 2.82 and a beta of 1.23.

Veris Residential Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd will be issued a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, April 2nd. Veris Residential’s dividend payout ratio (DPR) is presently -17.07%.

Analyst Upgrades and Downgrades

Separately, Truist Financial cut their target price on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Tuesday.

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.