Vanguard Group Inc. Has $194.27 Million Position in Veris Residential, Inc. (NYSE:VRE)

Vanguard Group Inc. cut its stake in Veris Residential, Inc. (NYSE:VREFree Report) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,350,430 shares of the company’s stock after selling 50,796 shares during the period. Vanguard Group Inc. owned approximately 13.39% of Veris Residential worth $194,272,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of VRE. Van ECK Associates Corp increased its stake in Veris Residential by 19.7% in the fourth quarter. Van ECK Associates Corp now owns 11,088 shares of the company’s stock valued at $174,000 after acquiring an additional 1,823 shares during the last quarter. New York Life Investment Management LLC acquired a new position in shares of Veris Residential during the 4th quarter worth $219,000. SG Americas Securities LLC lifted its position in shares of Veris Residential by 60.7% during the 4th quarter. SG Americas Securities LLC now owns 14,051 shares of the company’s stock worth $221,000 after buying an additional 5,309 shares during the last quarter. Duality Advisers LP acquired a new stake in Veris Residential in the fourth quarter valued at about $300,000. Finally, New York State Common Retirement Fund grew its position in Veris Residential by 22.1% in the fourth quarter. New York State Common Retirement Fund now owns 36,696 shares of the company’s stock valued at $577,000 after acquiring an additional 6,632 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Stock Performance

Veris Residential stock opened at $15.11 on Wednesday. The business has a 50 day moving average of $15.04 and a 200-day moving average of $15.09. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.35 and a quick ratio of 2.35. Veris Residential, Inc. has a 1 year low of $13.06 and a 1 year high of $18.98. The company has a market capitalization of $1.40 billion, a P/E ratio of -15.11, a P/E/G ratio of 4.71 and a beta of 1.26.

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Wednesday, July 3rd. This is a positive change from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s payout ratio is -21.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VRE shares. JPMorgan Chase & Co. raised their price target on shares of Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Monday, June 17th. Evercore ISI decreased their target price on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Finally, Truist Financial dropped their price target on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, June 24th.

Get Our Latest Report on VRE

Insider Buying and Selling

In related news, Director Nori Gerardo Lietz acquired 10,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was bought at an average cost of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the transaction, the director now directly owns 39,687 shares of the company’s stock, valued at $567,920.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Veris Residential news, CEO Mahbod Nia bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average price of $14.32 per share, for a total transaction of $501,200.00. Following the transaction, the chief executive officer now directly owns 380,869 shares in the company, valued at $5,454,044.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nori Gerardo Lietz purchased 10,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were acquired at an average price of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the acquisition, the director now directly owns 39,687 shares in the company, valued at approximately $567,920.97. The disclosure for this purchase can be found here. 15.00% of the stock is currently owned by insiders.

Veris Residential Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding VRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Veris Residential, Inc. (NYSE:VREFree Report).

Institutional Ownership by Quarter for Veris Residential (NYSE:VRE)

Receive News & Ratings for Veris Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veris Residential and related companies with MarketBeat.com's FREE daily email newsletter.