Illinois Municipal Retirement Fund Sells 799 Shares of Veris Residential, Inc. (NYSE:VRE)

Illinois Municipal Retirement Fund decreased its stake in Veris Residential, Inc. (NYSE:VRE) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,430 shares of the company’s stock after selling 799 shares during the period. Illinois Municipal Retirement Fund’s holdings in Veris Residential were worth $730,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Veris Residential by 24.8% in the third quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock worth $118,411,000 after acquiring an additional 1,425,528 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Veris Residential by 60.0% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 394,323 shares of the company’s stock valued at $6,203,000 after purchasing an additional 147,807 shares during the period. LDR Capital Management LLC raised its position in shares of Veris Residential by 31.2% in the fourth quarter. LDR Capital Management LLC now owns 152,103 shares of the company’s stock valued at $2,393,000 after purchasing an additional 36,127 shares during the period. Qube Research & Technologies Ltd raised its position in shares of Veris Residential by 157.1% in the third quarter. Qube Research & Technologies Ltd now owns 226,054 shares of the company’s stock valued at $3,730,000 after purchasing an additional 138,128 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Veris Residential by 5.3% in the third quarter. Nisa Investment Advisors LLC now owns 35,007 shares of the company’s stock valued at $578,000 after purchasing an additional 1,770 shares during the period. Institutional investors own 93.04% of the company’s stock.

Veris Residential Stock Performance

NYSE VRE opened at $14.52 on Tuesday. The company’s 50 day moving average is $14.76 and its 200-day moving average is $14.89. Veris Residential, Inc. has a 12-month low of $13.06 and a 12-month high of $18.98. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.46. The firm has a market cap of $1.34 billion, a P/E ratio of -14.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.23.

Veris Residential Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Wednesday, April 3rd were given a $0.052 dividend. This represents a $0.21 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, April 2nd. Veris Residential’s dividend payout ratio (DPR) is currently -21.00%.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered 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.