Veris Residential, Inc. (NYSE:VRE – Get Free Report) CEO Mahbod Nia acquired 35,000 shares of Veris Residential stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $14.32 per share, for a total transaction of $501,200.00. Following the completion of the purchase, the chief executive officer now directly owns 380,869 shares of the company’s stock, valued at $5,454,044.08. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Veris Residential Stock Up 1.5 %
Shares of VRE opened at $14.48 on Monday. The firm has a fifty day moving average price of $14.97 and a 200-day moving average price of $15.10. 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 capitalization of $1.34 billion, a P/E ratio of -14.48, a P/E/G ratio of 4.57 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.
Veris Residential Increases Dividend
The company 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 $0.06 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.24 annualized dividend and a yield of 1.66%. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s dividend payout ratio is -24.00%.
Institutional Investors Weigh In On Veris Residential
Analyst Upgrades and Downgrades
VRE has been the topic of a number of analyst reports. Truist Financial cut their price objective on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Tuesday, April 9th. Evercore ISI reduced their price objective on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Veris Residential from $11.00 to $13.00 and gave the stock an “underweight” rating in a research note on Monday, June 17th.
Read Our Latest Analysis on VRE
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.
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