Veris Residential, Inc. (NYSE:VRE) CEO Mahbod Nia Acquires 35,000 Shares

Veris Residential, Inc. (NYSE:VRE) CEO Mahbod Nia purchased 35,000 shares of the business’s stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 380,869 shares in the company, valued at $5,454,044.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Veris Residential Trading Up 0.4 %

VRE stock opened at $14.54 on Tuesday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -14.54, a PEG ratio of 4.57 and a beta of 1.25. The business’s 50-day moving average is $14.97 and its 200 day moving average is $15.10. Veris Residential, Inc. has a 12-month low of $13.06 and a 12-month high of $18.98. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.46.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.06 per share. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, July 3rd. Veris Residential’s payout ratio is currently -24.00%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Monday, June 17th. Truist Financial lowered their price objective on Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a report 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 report on Thursday, June 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VRE. Wellington Management Group LLP boosted its holdings in shares of Veris Residential by 24.8% during the 3rd quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock worth $118,411,000 after purchasing an additional 1,425,528 shares during the last quarter. Aew Capital Management L P boosted its holdings 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 purchasing an additional 978,350 shares during the last quarter. Nordea Investment Management AB acquired a new position in shares of Veris Residential during the 1st quarter worth approximately $8,503,000. Norges Bank acquired a new position in shares of Veris Residential during the 4th quarter worth approximately $8,154,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Veris Residential by 1,983.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 507,104 shares of the company’s stock worth $7,713,000 after purchasing an additional 482,764 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

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.