Charles Schwab Investment Management Inc. Has $26.26 Million Holdings in Veris Residential, Inc. (NYSE:VRE)

Charles Schwab Investment Management Inc. increased its stake in Veris Residential, Inc. (NYSE:VRE) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,470,536 shares of the company’s stock after purchasing an additional 49,378 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.58% of Veris Residential worth $26,264,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. DigitalBridge Group Inc. acquired a new position in shares of Veris Residential during the 2nd quarter worth about $13,673,000. AXA S.A. acquired a new position in shares of Veris Residential during the 2nd quarter worth about $6,392,000. Marshall Wace LLP acquired a new position in shares of Veris Residential during the 2nd quarter worth about $5,502,000. Cubist Systematic Strategies LLC acquired a new position in shares of Veris Residential during the 2nd quarter worth about $3,749,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Veris Residential during the 2nd quarter worth about $2,175,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Veris Residential Trading Down 0.7 %

Shares of NYSE:VRE opened at $17.67 on Thursday. 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 $1.64 billion, a P/E ratio of -103.94, a price-to-earnings-growth ratio of 2.99 and a beta of 1.27. The company has a 50-day simple moving average of $17.61 and a 200 day simple moving average of $16.54. 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 announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This is an increase from Veris Residential’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Veris Residential’s dividend payout ratio (DPR) 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.