Aew Capital Management L P Acquires 978,350 Shares of Veris Residential, Inc. (NYSE:VRE)

Aew Capital Management L P boosted its position in Veris Residential, Inc. (NYSE:VRE) by 169.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,555,610 shares of the company’s stock after purchasing an additional 978,350 shares during the period. Veris Residential makes up approximately 0.9% of Aew Capital Management L P’s investment portfolio, making the stock its 29th biggest holding. Aew Capital Management L P owned approximately 1.69% of Veris Residential worth $24,470,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its position in shares of Veris Residential by 3.5% during the third quarter. Daiwa Securities Group Inc. now owns 25,481 shares of the company’s stock worth $420,000 after acquiring an additional 852 shares during the period. Ranger Global Real Estate Advisors LLC increased its position in shares of Veris Residential by 0.3% during the third quarter. Ranger Global Real Estate Advisors LLC now owns 303,382 shares of the company’s stock worth $5,006,000 after acquiring an additional 915 shares during the period. UniSuper Management Pty Ltd increased its position in shares of Veris Residential by 5.1% during the third quarter. UniSuper Management Pty Ltd now owns 22,800 shares of the company’s stock worth $376,000 after acquiring an additional 1,100 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Veris Residential by 5.3% during the third quarter. Nisa Investment Advisors LLC now owns 35,007 shares of the company’s stock worth $578,000 after acquiring an additional 1,770 shares during the period. Finally, abrdn plc increased its position in shares of Veris Residential by 11.4% during the third quarter. abrdn plc now owns 17,377 shares of the company’s stock worth $287,000 after acquiring an additional 1,774 shares during the period. Institutional investors own 93.04% of the company’s stock.

Veris Residential Stock Performance

Shares of NYSE:VRE traded down $0.11 on Friday, hitting $14.54. 502,156 shares of the company were exchanged, compared to its average volume of 681,588. Veris Residential, Inc. has a 1-year low of $13.06 and a 1-year high of $18.98. The stock’s 50 day moving average price is $14.79 and its 200 day moving average price is $14.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $1.34 billion, a P/E ratio of -14.54, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23.

Veris Residential Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their target price 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.