Nori Gerardo Lietz Purchases 10,000 Shares of Veris Residential, Inc. (NYSE:VRE) Stock

Veris Residential, Inc. (NYSE:VRE) Director Nori Gerardo Lietz bought 10,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of $14.31 per share, for a total transaction of $143,100.00. Following the purchase, the director now directly owns 39,687 shares of the company’s stock, valued at $567,920.97. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Veris Residential Stock Performance

Shares of VRE stock opened at $14.54 on Tuesday. The company has a market capitalization of $1.35 billion, a P/E ratio of -14.54, a P/E/G ratio of 4.57 and a beta of 1.25. The business’s 50 day moving average is $14.97 and its two-hundred day moving average is $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. Veris Residential, Inc. has a 12-month low of $13.06 and a 12-month high of $18.98.

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Wednesday, July 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.24 dividend on an annualized basis and a yield of 1.65%. This is an increase from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s dividend payout ratio is currently -24.00%.

Hedge Funds Weigh In On Veris Residential

A number of hedge funds have recently bought and sold shares of VRE. Rhumbline Advisers boosted its position in Veris Residential by 1.2% during the third quarter. Rhumbline Advisers now owns 273,925 shares of the company’s stock worth $4,520,000 after purchasing an additional 3,155 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Veris Residential by 157.1% during the third quarter. Qube Research & Technologies Ltd now owns 226,054 shares of the company’s stock worth $3,730,000 after purchasing an additional 138,128 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Veris Residential during the third quarter worth approximately $964,000. Ranger Global Real Estate Advisors LLC boosted its position in Veris Residential by 0.3% during the third quarter. Ranger Global Real Estate Advisors LLC now owns 303,382 shares of the company’s stock worth $5,006,000 after purchasing an additional 915 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Veris Residential by 24.8% during the third quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock valued at $118,411,000 after acquiring an additional 1,425,528 shares during the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.