Veris Residential, Inc. (NYSE:VRE – Get Free Report) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 2,440,000 shares, a drop of 37.9% from the November 30th total of 3,930,000 shares. Based on an average daily volume of 425,300 shares, the short-interest ratio is presently 5.7 days. Currently, 2.7% of the company’s shares are sold short.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on VRE shares. JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $14.00 to $17.00 in a research note on Tuesday, December 17th. Bank of America raised 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.
Read Our Latest Stock Report on VRE
Veris Residential Stock Up 0.2 %
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 issued a dividend of $0.08 per share. This is an increase from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.92%. Veris Residential’s payout ratio is -188.24%.
Institutional Trading of Veris Residential
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DigitalBridge Group Inc. purchased a new position in Veris Residential during the second quarter valued at approximately $13,673,000. Adelante Capital Management LLC purchased a new position in shares of Veris Residential during the 3rd quarter valued at approximately $11,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Veris Residential by 491.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 616,605 shares of the company’s stock valued at $11,013,000 after purchasing an additional 512,406 shares in the last quarter. AXA S.A. acquired a new position in shares of Veris Residential in the 2nd quarter valued at $6,392,000. Finally, Marshall Wace LLP purchased a new stake in Veris Residential during the second quarter worth $5,502,000. Institutional investors and hedge funds own 93.04% of the company’s stock.
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.
See Also
- Five stocks we like better than Veris Residential
- What is the Dow Jones Industrial Average (DJIA)?
- Top 3 Investment Themes to Watch for in 2025
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Mega Buybacks in 2025: Why These 3 Leading Stocks Are Buys
- Are These Liquid Natural Gas Stocks Ready For An Upside Bounce?
- AMD vs. NVIDIA: The Better Semiconductor Bet for 2025
Receive News & Ratings for Veris Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veris Residential and related companies with MarketBeat.com's FREE daily email newsletter.