Veris Residential, Inc. (NYSE:VRE) Director Buys $143,100.00 in Stock

Veris Residential, Inc. (NYSE:VRE) Director Nori Gerardo Lietz purchased 10,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were purchased 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 approximately $567,920.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Veris Residential Stock Up 1.3 %

NYSE VRE opened at $14.60 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.46. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -14.60, a PEG ratio of 4.53 and a beta of 1.25. The company has a 50 day moving average of $14.99 and a 200-day moving average of $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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Wednesday, July 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.64%. Veris Residential’s payout ratio is currently -21.00%.

Institutional Trading of Veris Residential

Several large investors have recently modified their holdings of VRE. Vanguard Group Inc. raised its stake in Veris Residential by 0.7% in the first quarter. Vanguard Group Inc. now owns 12,439,064 shares of the company’s stock valued at $189,198,000 after purchasing an additional 88,634 shares in the last quarter. Wellington Management Group LLP raised its position 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 buying an additional 1,425,528 shares in the last quarter. Aew Capital Management L P boosted its position in shares of Veris Residential by 169.5% during the 4th quarter. Aew Capital Management L P now owns 1,555,610 shares of the company’s stock worth $24,470,000 after acquiring an additional 978,350 shares in the last quarter. Victory Capital Management Inc. increased its stake in 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 acquiring an additional 248,427 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in Veris Residential by 115.3% during 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 purchasing an additional 409,631 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on VRE. JPMorgan Chase & Co. upped their price objective on shares of Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a report on Monday, June 17th. Truist Financial reduced 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. Finally, Evercore ISI lowered their price objective on Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th.

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.