Thrivent Financial for Lutherans Has $1.13 Million Holdings in Veris Residential, Inc. (NYSE:VRE)

Thrivent Financial for Lutherans decreased its holdings in Veris Residential, Inc. (NYSE:VRE) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,428 shares of the company’s stock after selling 3,400 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Veris Residential were worth $1,133,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of VRE. Van ECK Associates Corp increased its holdings in shares of Veris Residential by 5.8% during the second quarter. Van ECK Associates Corp now owns 12,011 shares of the company’s stock worth $180,000 after purchasing an additional 663 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Veris Residential by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock worth $51,000 after acquiring an additional 755 shares during the period. Louisiana State Employees Retirement System raised its holdings in Veris Residential by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the company’s stock valued at $608,000 after acquiring an additional 800 shares in the last quarter. abrdn plc raised its holdings in Veris Residential by 10.5% in the 3rd quarter. abrdn plc now owns 15,671 shares of the company’s stock valued at $280,000 after acquiring an additional 1,495 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Veris Residential by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,070 shares of the company’s stock valued at $601,000 after acquiring an additional 1,681 shares during the period. Institutional investors and hedge funds own 93.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Veris Residential Price Performance

Shares of VRE stock opened at $18.25 on Monday. The business has a fifty day simple moving average of $17.62 and a 200 day simple moving average of $16.50. The company has a market cap of $1.70 billion, a P/E ratio of -107.35, a P/E/G ratio of 3.02 and a beta of 1.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Veris Residential’s previous quarterly dividend of $0.07. Veris Residential’s dividend payout ratio is -164.70%.

Veris Residential 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.