Veris Residential, Inc. (NYSE:VRE) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in Veris Residential, Inc. (NYSE:VRE) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,912 shares of the company’s stock after selling 637 shares during the period. Amalgamated Bank’s holdings in Veris Residential were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of VRE. Vanguard Group Inc. grew 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 worth $189,198,000 after purchasing an additional 88,634 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Veris Residential by 1.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,194,049 shares of the company’s stock worth $17,911,000 after acquiring an additional 13,943 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Veris Residential by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,843 shares of the company’s stock valued at $17,217,000 after acquiring an additional 65,180 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in shares of Veris Residential during the 2nd quarter valued at approximately $13,673,000. Finally, Bank of New York Mellon Corp raised its position in shares of Veris Residential by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 751,050 shares of the company’s stock valued at $11,266,000 after acquiring an additional 5,012 shares in the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, September 16th. Evercore ISI lifted their price target on shares of Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Bank of America upgraded shares of Veris Residential from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $23.00 in a research note on Tuesday, November 12th.

Veris Residential Stock Performance

VRE stock opened at $18.21 on Friday. Veris Residential, Inc. has a 1 year low of $13.28 and a 1 year high of $18.85. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -107.12, a PEG ratio of 3.08 and a beta of 1.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The stock’s fifty day moving average is $17.50 and its two-hundred day moving average is $16.26.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. Veris Residential’s payout ratio is presently -188.24%.

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.