Veris Residential, Inc. (NYSE:VRE) Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 380,593 shares of the company’s stock after selling 16,308 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of Veris Residential worth $6,797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of VRE. Tidal Investments LLC acquired a new position in shares of Veris Residential in the 3rd quarter valued at about $397,000. Geode Capital Management LLC grew its position in Veris Residential by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,000,918 shares of the company’s stock valued at $35,743,000 after purchasing an additional 21,133 shares in the last quarter. Barclays PLC increased its stake in Veris Residential by 56.6% in the 3rd quarter. Barclays PLC now owns 320,268 shares of the company’s stock valued at $5,720,000 after buying an additional 115,713 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Veris Residential by 1.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock valued at $2,079,000 after buying an additional 1,220 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Veris Residential by 0.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock valued at $1,786,000 after buying an additional 900 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Trading Up 1.3 %

Shares of VRE opened at $16.63 on Thursday. The stock’s 50-day moving average price is $17.45 and its 200 day moving average price is $16.79. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -97.82, a P/E/G ratio of 2.91 and a beta of 1.27. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85.

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 represents a $0.32 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, December 31st. Veris Residential’s dividend payout ratio is presently -188.24%.

Wall Street Analysts Forecast Growth

VRE has been the subject of several analyst reports. Bank of America upgraded Veris Residential from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $17.00 in a research note on Tuesday, December 17th.

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.