181,200 Shares in Veris Residential, Inc. (NYSE:VRE) Acquired by Hazelview Securities Inc.

Hazelview Securities Inc. bought a new position in shares of Veris Residential, Inc. (NYSE:VRE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 181,200 shares of the company’s stock, valued at approximately $2,678,000. Veris Residential makes up 0.5% of Hazelview Securities Inc.’s holdings, making the stock its 27th biggest position. Hazelview Securities Inc. owned 0.20% of Veris Residential as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ranger Global Real Estate Advisors LLC boosted its holdings in shares of Veris Residential by 0.3% in the third quarter. Ranger Global Real Estate Advisors LLC now owns 303,382 shares of the company’s stock valued at $5,006,000 after acquiring an additional 915 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Veris Residential by 1.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 91,500 shares of the company’s stock valued at $1,439,000 after acquiring an additional 1,700 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Veris Residential by 5.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 49,456 shares of the company’s stock valued at $757,000 after acquiring an additional 2,556 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Veris Residential by 1.2% in the third quarter. Rhumbline Advisers now owns 273,925 shares of the company’s stock valued at $4,520,000 after acquiring an additional 3,155 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Veris Residential news, Director Nori Gerardo Lietz bought 10,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the transaction, the director now owns 39,687 shares in the company, valued at approximately $567,920.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mahbod Nia acquired 35,000 shares of the business’s 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 approximately $5,454,044.08. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Nori Gerardo Lietz acquired 10,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was purchased 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. 15.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on VRE shares. Truist Financial lowered their target price on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday. JPMorgan Chase & Co. raised their price objective 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. Finally, Evercore ISI reduced their price objective on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th.

Veris Residential Stock Up 1.4 %

VRE traded up $0.20 during midday trading on Wednesday, reaching $14.61. 474,905 shares of the company’s stock were exchanged, compared to its average volume of 686,634. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.35 and a current ratio of 2.35. The business’s 50-day moving average price is $14.98 and its 200 day moving average price is $15.09. Veris Residential, Inc. has a 1-year low of $13.06 and a 1-year high of $18.98.

Veris Residential Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 1.64%. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s payout ratio is presently -21.00%.

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.