Vert Asset Management LLC Increases Stock Holdings in Veris Residential, Inc. (NYSE:VRE)

Vert Asset Management LLC raised its stake in Veris Residential, Inc. (NYSE:VRE) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,852 shares of the company’s stock after purchasing an additional 1,354 shares during the quarter. Vert Asset Management LLC’s holdings in Veris Residential were worth $439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Veris Residential by 24.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock valued at $118,411,000 after purchasing an additional 1,425,528 shares during the last quarter. Aew Capital Management L P boosted its stake in shares of Veris Residential by 169.5% in the fourth quarter. Aew Capital Management L P now owns 1,555,610 shares of the company’s stock valued at $24,470,000 after buying an additional 978,350 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Veris Residential by 29.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,086,981 shares of the company’s stock valued at $17,098,000 after buying an additional 248,427 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Veris Residential by 115.3% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 764,760 shares of the company’s stock valued at $12,030,000 after buying an additional 409,631 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Veris Residential in the fourth quarter valued at approximately $8,154,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VRE has been the topic of a number of analyst reports. Evercore ISI decreased their price target on Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Truist Financial decreased their price target on Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Veris Residential from $11.00 to $13.00 and gave the stock an “underweight” rating in a report on Monday, June 17th.

Veris Residential Price Performance

VRE stock traded up $0.21 during midday trading on Thursday, hitting $14.81. 69,353 shares of the stock were exchanged, compared to its average volume of 687,008. Veris Residential, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $18.98. The stock’s 50-day moving average price is $14.99 and its 200-day moving average price is $15.09. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.35 and a current ratio of 2.35.

Veris Residential Increases Dividend

The business 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 $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, July 3rd. Veris Residential’s payout ratio is -21.00%.

Insider Transactions at Veris Residential

In related news, Director Nori Gerardo Lietz purchased 10,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was bought at an average cost of $14.31 per share, with a total value 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Veris Residential news, CEO Mahbod Nia acquired 35,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $14.32 per share, with a total value of $501,200.00. Following the completion of 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 SEC, which is accessible through the SEC website. Also, Director Nori Gerardo Lietz acquired 10,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $14.31 per share, with a total value of $143,100.00. Following the transaction, the director now owns 39,687 shares of the company’s stock, valued at $567,920.97. The disclosure for this purchase can be found here. Insiders own 15.00% of the company’s stock.

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.