Veris Residential, Inc. (NYSE:VRE) Shares Sold by Perpetual Ltd

Perpetual Ltd cut its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 28.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 26,780 shares of the company’s stock after selling 10,510 shares during the period. Perpetual Ltd’s holdings in Veris Residential were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VRE. Van ECK Associates Corp raised its position in shares of Veris Residential by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 11,088 shares of the company’s stock valued at $174,000 after purchasing an additional 1,823 shares in the last quarter. New York Life Investment Management LLC acquired a new position in shares of Veris Residential in the 4th quarter valued at approximately $219,000. SG Americas Securities LLC raised its position in shares of Veris Residential by 60.7% in the 4th quarter. SG Americas Securities LLC now owns 14,051 shares of the company’s stock valued at $221,000 after purchasing an additional 5,309 shares in the last quarter. Duality Advisers LP acquired a new position in shares of Veris Residential in the 4th quarter valued at approximately $300,000. Finally, New York State Common Retirement Fund raised its position in shares of Veris Residential by 22.1% in the 4th quarter. New York State Common Retirement Fund now owns 36,696 shares of the company’s stock valued at $577,000 after purchasing an additional 6,632 shares in the last quarter. 93.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on VRE. Truist Financial cut their target price on Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th. JPMorgan Chase & Co. upped their price target on Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research report on Monday, June 17th. Finally, Evercore ISI dropped their price target on Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday.

Veris Residential Stock Performance

VRE stock opened at $14.47 on Friday. 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 firm has a market cap of $1.34 billion, a P/E ratio of -14.47, a P/E/G ratio of 4.61 and a beta of 1.25. Veris Residential, Inc. has a 12-month low of $13.06 and a 12-month high of $18.98. The stock’s 50 day simple moving average is $14.97 and its 200 day simple moving average is $15.10.

Veris Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Wednesday, July 3rd will be paid a dividend of $0.06 per share. This is an increase from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, July 3rd. Veris Residential’s dividend payout ratio is presently -21.00%.

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.