Veris Residential, Inc. (NYSE:VRE) Holdings Boosted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in Veris Residential, Inc. (NYSE:VRE) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,194,049 shares of the company’s stock after acquiring an additional 13,943 shares during the period. Victory Capital Management Inc.’s holdings in Veris Residential were worth $17,911,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in VRE. Vanguard Group Inc. boosted its position in Veris Residential by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 12,439,064 shares of the company’s stock valued at $189,198,000 after purchasing an additional 88,634 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of 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 valued at $12,030,000 after acquiring an additional 409,631 shares during the period. Bank of New York Mellon Corp grew its position in shares of Veris Residential by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 751,050 shares of the company’s stock worth $11,266,000 after acquiring an additional 5,012 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Veris Residential in the 1st quarter worth about $8,503,000. Finally, Norges Bank bought a new stake in Veris Residential in the 4th quarter valued at about $8,154,000. 93.04% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Veris Residential Stock Up 0.7 %

Veris Residential stock opened at $17.51 on Friday. The company’s 50-day moving average price is $16.26 and its two-hundred day moving average price is $15.37. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -17.51, a PEG ratio of 6.54 and a beta of 1.25. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.07. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.33.

Veris Residential (NYSE:VRE) last announced its earnings results on Wednesday, July 24th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.11). The firm had revenue of $67.48 million for the quarter, compared to the consensus estimate of $67.73 million. Veris Residential had a negative return on equity of 8.55% and a negative net margin of 21.79%. During the same period in the previous year, the firm earned $0.16 EPS. On average, analysts expect that Veris Residential, Inc. will post 0.54 EPS for the current fiscal year.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.28 annualized dividend and a yield of 1.60%. This is a boost from Veris Residential’s previous quarterly dividend of $0.06. Veris Residential’s dividend payout ratio (DPR) is currently -28.00%.

Analyst Upgrades and Downgrades

VRE has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Truist Financial decreased their price objective on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their target price on Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Monday, June 17th.

Veris Residential 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.