GSA Capital Partners LLP Acquires Shares of 24,937 Veris Residential, Inc. (NYSE:VRE)

GSA Capital Partners LLP acquired a new stake in Veris Residential, Inc. (NYSE:VRE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 24,937 shares of the company’s stock, valued at approximately $445,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Veris Residential by 417.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company’s stock valued at $41,000 after acquiring an additional 2,167 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veris Residential during the 2nd quarter valued at approximately $48,000. Quarry LP purchased a new position in shares of Veris Residential during the 2nd quarter valued at approximately $48,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Veris Residential by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock valued at $51,000 after buying an additional 755 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Veris Residential during the 1st quarter valued at approximately $156,000. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Stock Performance

VRE stock opened at $18.25 on Thursday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -107.35, a PEG ratio of 3.01 and a beta of 1.26. Veris Residential, Inc. has a 1 year low of $13.28 and a 1 year high of $18.85. The stock’s fifty day moving average is $17.55 and its two-hundred day moving average is $16.34.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.75%. This is a boost from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. Veris Residential’s dividend payout ratio (DPR) is presently -188.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VRE shares. JPMorgan Chase & Co. increased their target price on Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, September 16th. Bank of America upgraded Veris Residential from a “neutral” rating to a “buy” rating and increased their target price for the company from $20.00 to $23.00 in a research note on Tuesday, November 12th. Finally, Evercore ISI raised their price objective on Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th.

About Veris Residential

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.