New York State Teachers Retirement System Lowers Stock Position in Veris Residential, Inc. (NYSE:VRE)

New York State Teachers Retirement System reduced its stake in Veris Residential, Inc. (NYSE:VRE) by 20.7% during the fourth quarter, HoldingsChannel reports. The firm owned 118,975 shares of the company’s stock after selling 31,018 shares during the period. New York State Teachers Retirement System’s holdings in Veris Residential were worth $1,871,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wellington Management Group LLP grew its position in Veris Residential by 24.8% during the third quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock valued at $118,411,000 after acquiring an additional 1,425,528 shares during the last quarter. LDR Capital Management LLC grew its position in Veris Residential by 31.2% during the fourth quarter. LDR Capital Management LLC now owns 152,103 shares of the company’s stock valued at $2,393,000 after acquiring an additional 36,127 shares during the last quarter. Qube Research & Technologies Ltd grew its position in Veris Residential by 157.1% during the third quarter. Qube Research & Technologies Ltd now owns 226,054 shares of the company’s stock valued at $3,730,000 after acquiring an additional 138,128 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Veris Residential by 22.4% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 246,516 shares of the company’s stock valued at $4,068,000 after acquiring an additional 45,194 shares during the last quarter. Finally, Illinois Municipal Retirement Fund bought a new position in Veris Residential during the third quarter valued at approximately $779,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Stock Down 1.1 %

Shares of Veris Residential stock opened at $13.97 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.01 and a current ratio of 1.01. Veris Residential, Inc. has a 52-week low of $13.06 and a 52-week high of $18.98. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -11.36, a P/E/G ratio of 2.77 and a beta of 1.23. The company’s 50 day moving average price is $14.89 and its 200-day moving average price is $14.98.

Veris Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Wednesday, April 3rd were issued a $0.052 dividend. This represents a $0.21 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, April 2nd. Veris Residential’s dividend payout ratio is -17.07%.

Analyst Ratings Changes

Separately, Truist Financial reduced their price target on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th.

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.