Vert Asset Management LLC Boosts Holdings in Veris Residential, Inc. (NYSE:VRE)

Vert Asset Management LLC increased its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 4.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,852 shares of the company’s stock after buying an additional 1,354 shares during the period. Vert Asset Management LLC’s holdings in Veris Residential were worth $439,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Hazelview Securities Inc. purchased a new stake in Veris Residential during the first quarter worth about $2,678,000. Nomura Holdings Inc. purchased a new stake in Veris Residential during the fourth quarter worth about $2,956,000. Verition Fund Management LLC increased its holdings in Veris Residential by 18.9% during the fourth quarter. Verition Fund Management LLC now owns 395,704 shares of the company’s stock worth $6,224,000 after buying an additional 62,804 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its holdings in Veris Residential by 115.3% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 764,760 shares of the company’s stock worth $12,030,000 after buying an additional 409,631 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in Veris Residential by 18.4% during the fourth quarter. Hsbc Holdings PLC now owns 42,384 shares of the company’s stock worth $667,000 after purchasing an additional 6,576 shares during the period. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Insider Activity

In other news, Director Nori Gerardo Lietz acquired 10,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was bought at an average cost of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the transaction, the director now owns 39,687 shares of the company’s stock, valued at $567,920.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mahbod Nia bought 35,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of $14.32 per share, for a total transaction of $501,200.00. Following the completion of the transaction, the chief executive officer now directly owns 380,869 shares in the company, valued at approximately $5,454,044.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nori Gerardo Lietz bought 10,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were bought at an average price of $14.31 per share, with a total value of $143,100.00. Following the completion of the transaction, the director now owns 39,687 shares of the company’s stock, valued at $567,920.97. The disclosure for this purchase can be found here. 15.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

VRE has been the subject of a number of research reports. Evercore ISI cut their target price on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Truist Financial cut their target price on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Veris Residential from $11.00 to $13.00 and gave the stock an “underweight” rating in a research report on Monday, June 17th.

Veris Residential Price Performance

Shares of VRE stock traded up $0.21 during trading hours on Thursday, reaching $14.81. The stock had a trading volume of 69,353 shares, compared to its average volume of 687,008. The stock’s fifty day simple moving average is $14.99 and its 200 day simple moving average is $15.09. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.35 and a quick ratio of 2.35. 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. Stockholders of record on Wednesday, July 3rd will be given a $0.06 dividend. This is a positive change from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, July 3rd. Veris Residential’s dividend payout ratio (DPR) is -21.00%.

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.