Veris Residential, Inc. (NYSE:VRE) Shares Purchased by HGI Capital Management LLC

HGI Capital Management LLC grew its holdings in Veris Residential, Inc. (NYSE:VRE) by 21.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 266,707 shares of the company’s stock after purchasing an additional 47,076 shares during the period. Veris Residential makes up about 4.2% of HGI Capital Management LLC’s portfolio, making the stock its 9th biggest position. HGI Capital Management LLC owned about 0.29% of Veris Residential worth $4,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Veris Residential by 491.8% in 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 during the last quarter. FMR LLC increased its stake in shares of Veris Residential by 5,945.2% in the 3rd quarter. FMR LLC now owns 224,278 shares of the company’s stock valued at $4,006,000 after purchasing an additional 220,568 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Veris Residential by 2.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 540,653 shares of the company’s stock valued at $9,656,000 after purchasing an additional 13,882 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Veris Residential by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,470,536 shares of the company’s stock valued at $26,264,000 after purchasing an additional 49,378 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of Veris Residential by 60.7% in the 3rd quarter. Intech Investment Management LLC now owns 23,386 shares of the company’s stock valued at $418,000 after purchasing an additional 8,837 shares during the last quarter. Institutional investors own 93.04% of the company’s stock.

Analyst Ratings Changes

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

Veris Residential Trading Up 0.2 %

Shares of VRE stock opened at $18.20 on Friday. The firm has a market capitalization of $1.69 billion, a P/E ratio of -107.06, a P/E/G ratio of 3.03 and a beta of 1.26. Veris Residential, Inc. has a twelve month low of $13.28 and a twelve month high of $18.85. 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 stock’s fifty day simple moving average is $17.61 and its 200 day simple moving average is $16.46.

Veris Residential Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Veris Residential’s previous quarterly dividend of $0.07. Veris Residential’s payout ratio is -188.24%.

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.