Louisiana State Employees Retirement System Invests $631,000 in Veris Residential, Inc. (NYSE:VRE)

Louisiana State Employees Retirement System acquired a new stake in Veris Residential, Inc. (NYSE:VRE) during the fourth quarter, HoldingsChannel reports. The fund acquired 40,100 shares of the company’s stock, valued at approximately $631,000.

Several other institutional investors also recently bought and sold shares of VRE. Handelsbanken Fonder AB boosted its holdings in shares of Veris Residential by 19.6% in the third quarter. Handelsbanken Fonder AB now owns 23,957 shares of the company’s stock valued at $395,000 after acquiring an additional 3,918 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Veris Residential by 3.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 25,481 shares of the company’s stock valued at $420,000 after purchasing an additional 852 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Veris Residential by 5.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 35,007 shares of the company’s stock worth $578,000 after purchasing an additional 1,770 shares during the period. Aew Capital Management L P raised its stake in shares of Veris Residential by 98.0% during the 3rd quarter. Aew Capital Management L P now owns 577,260 shares of the company’s stock worth $9,525,000 after buying an additional 285,724 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Veris Residential by 22.4% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 246,516 shares of the company’s stock valued at $4,068,000 after buying an additional 45,194 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Price Performance

VRE stock opened at $14.54 on Monday. The firm has a 50 day moving average of $14.79 and a 200-day moving average of $14.90. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -14.54, a PEG ratio of 2.85 and a beta of 1.23. The company has a current ratio of 2.35, a quick ratio of 1.01 and a debt-to-equity ratio of 1.46. Veris Residential, Inc. has a 12-month low of $13.06 and a 12-month high of $18.98.

Veris Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd were issued a dividend of $0.052 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.21 annualized dividend and a yield of 1.43%. Veris Residential’s dividend payout ratio is presently -21.00%.

Wall Street Analyst Weigh In

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

Veris Residential Company 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.