Barclays PLC Has $5.72 Million Stock Position in Veris Residential, Inc. (NYSE:VRE)

Barclays PLC boosted its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 56.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,268 shares of the company’s stock after purchasing an additional 115,713 shares during the quarter. Barclays PLC owned 0.34% of Veris Residential worth $5,720,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio raised its holdings in Veris Residential by 1.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock valued at $2,079,000 after acquiring an additional 1,220 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Veris Residential by 0.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock valued at $1,786,000 after purchasing an additional 900 shares in the last quarter. Brookfield Corp ON bought a new position in Veris Residential in the third quarter worth $4,561,000. Point72 Asset Management L.P. acquired a new stake in Veris Residential during the third quarter worth $263,000. Finally, Adelante Capital Management LLC bought a new stake in Veris Residential in the 3rd quarter valued at $11,001,000. 93.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

VRE has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Veris Residential from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $17.00 in a report on Tuesday. Bank of America upgraded Veris Residential from a “neutral” rating to a “buy” rating and upped their price objective for the company from $20.00 to $23.00 in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their target price on Veris Residential from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th.

Veris Residential Trading Up 0.2 %

Shares of VRE stock opened at $16.41 on Friday. The company has a market capitalization of $1.52 billion, a P/E ratio of -96.52, a P/E/G ratio of 2.91 and a beta of 1.27. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-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 firm has a 50-day moving average price of $17.56 and a 200 day moving average price of $16.70.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from Veris Residential’s previous quarterly dividend of $0.07. Veris Residential’s payout ratio is -188.24%.

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.