Thrivent Financial for Lutherans Sells 3,400 Shares of Veris Residential, Inc. (NYSE:VRE)

Thrivent Financial for Lutherans lowered its stake in Veris Residential, Inc. (NYSE:VRE) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,428 shares of the company’s stock after selling 3,400 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of Veris Residential worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of VRE. Lighthouse Investment Partners LLC acquired a new position in shares of Veris Residential during the 2nd quarter worth approximately $2,175,000. Tidal Investments LLC increased its holdings in Veris Residential by 268.8% during the first quarter. Tidal Investments LLC now owns 50,959 shares of the company’s stock worth $775,000 after buying an additional 37,141 shares during the last quarter. Renaissance Technologies LLC raised its position in Veris Residential by 387.4% during the second quarter. Renaissance Technologies LLC now owns 84,800 shares of the company’s stock worth $1,272,000 after acquiring an additional 67,400 shares in the last quarter. Van ECK Associates Corp raised its position in 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 acquiring an additional 663 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in Veris Residential in the second quarter valued at $13,673,000. Institutional investors own 93.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price 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. JPMorgan Chase & Co. boosted their price target on Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, September 16th. Finally, Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $23.00 in a research report on Tuesday, November 12th.

Veris Residential Stock Performance

Shares of VRE stock opened at $18.25 on Monday. Veris Residential, Inc. has a 52 week low of $13.84 and a 52 week high of $18.85. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -107.35, a PEG ratio of 3.02 and a beta of 1.26. The company has a 50-day simple moving average of $17.62 and a 200 day simple moving average of $16.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73.

Veris Residential Increases Dividend

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

Veris Residential Company 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.