Vanguard Group Inc. Sells 50,796 Shares of Veris Residential, Inc. (NYSE:VRE)

Vanguard Group Inc. lowered its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,350,430 shares of the company’s stock after selling 50,796 shares during the period. Vanguard Group Inc. owned about 0.13% of Veris Residential worth $194,272,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in VRE. Wellington Management Group LLP boosted its position in Veris Residential by 24.8% during the third 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 during the period. Aew Capital Management L P boosted its holdings in 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 valued at $24,470,000 after acquiring an additional 978,350 shares during the period. Victory Capital Management Inc. grew its position in Veris Residential by 29.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,086,981 shares of the company’s stock worth $17,098,000 after acquiring an additional 248,427 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in Veris Residential by 115.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 764,760 shares of the company’s stock worth $12,030,000 after purchasing an additional 409,631 shares during the period. Finally, Norges Bank bought a new stake in Veris Residential in the fourth quarter valued at approximately $8,154,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Insider Transactions at Veris Residential

In related news, Director Nori Gerardo Lietz purchased 10,000 shares of Veris Residential stock in a transaction that occurred on Thursday, June 20th. The shares were 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 directly owns 39,687 shares of the company’s stock, valued at $567,920.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Mahbod Nia acquired 35,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 380,869 shares of the company’s stock, valued at approximately $5,454,044.08. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nori Gerardo Lietz bought 10,000 shares of Veris Residential stock in a transaction dated Thursday, June 20th. The stock was acquired 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 in the company, valued at $567,920.97. The disclosure for this purchase can be found here. Corporate insiders own 15.00% of the company’s stock.

Veris Residential Price Performance

Shares of Veris Residential stock opened at $15.11 on Wednesday. The business has a 50 day moving average of $15.04 and a 200 day moving average of $15.09. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.98. The company has a market cap of $1.40 billion, a PE ratio of -15.11, a P/E/G ratio of 4.71 and a beta of 1.26. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.46.

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 positive change from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.59%. Veris Residential’s dividend payout ratio is -21.00%.

Analyst Ratings Changes

Several research analysts have recently issued reports on VRE shares. Evercore ISI cut their target price on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. JPMorgan Chase & Co. boosted their price objective on shares of Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research report on Monday, June 17th. Finally, Truist Financial dropped their target price on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, June 24th.

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.