Victory Capital Management Inc. Has $21.44 Million Holdings in Veris Residential, Inc. (NYSE:VRE)

Victory Capital Management Inc. increased its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,200,470 shares of the company’s stock after buying an additional 6,421 shares during the quarter. Victory Capital Management Inc.’s holdings in Veris Residential were worth $21,440,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lighthouse Investment Partners LLC acquired a new stake in Veris Residential during the 2nd quarter worth $2,175,000. Tidal Investments LLC raised its stake in Veris Residential by 268.8% during the 1st quarter. Tidal Investments LLC now owns 50,959 shares of the company’s stock worth $775,000 after buying an additional 37,141 shares during the period. Renaissance Technologies LLC raised its stake in shares of Veris Residential by 387.4% in the 2nd quarter. Renaissance Technologies LLC now owns 84,800 shares of the company’s stock valued at $1,272,000 after purchasing an additional 67,400 shares during the period. Van ECK Associates Corp raised its stake in shares of Veris Residential by 5.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,011 shares of the company’s stock valued at $180,000 after purchasing an additional 663 shares during the period. Finally, DigitalBridge Group Inc. acquired a new stake in shares of Veris Residential in the 2nd quarter valued at about $13,673,000. Institutional investors and hedge funds own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

VRE has been the topic of several recent research reports. Evercore ISI lifted their price target on Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. 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. Finally, Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and lifted their price target for the company from $20.00 to $23.00 in a research note on Tuesday, November 12th.

Veris Residential Price Performance

Shares of NYSE VRE opened at $18.18 on Tuesday. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -106.93, a PEG ratio of 3.01 and a beta of 1.26. The business has a 50-day moving average of $17.52 and a 200-day moving average of $16.28. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. Veris Residential, Inc. has a fifty-two week low of $13.28 and a fifty-two week high of $18.85.

Veris Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.08 dividend. This is a boost from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.76%. Veris Residential’s dividend payout ratio (DPR) is presently -164.70%.

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.