Tidal Investments LLC Makes New $397,000 Investment in Veris Residential, Inc. (NYSE:VRE)

Tidal Investments LLC bought a new stake in shares of Veris Residential, Inc. (NYSE:VRE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,230 shares of the company’s stock, valued at approximately $397,000.

Several other large investors also recently modified their holdings of VRE. DigitalBridge Group Inc. acquired a new stake in Veris Residential during the second quarter worth about $13,673,000. Adelante Capital Management LLC acquired a new stake in shares of Veris Residential during the 3rd quarter worth approximately $11,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Veris Residential by 491.8% in the third 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 acquiring an additional 512,406 shares during the last quarter. AXA S.A. acquired a new position in Veris Residential during the second quarter valued at approximately $6,392,000. Finally, Marshall Wace LLP bought a new stake in Veris Residential during the second quarter worth $5,502,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Veris Residential Price Performance

Shares of VRE opened at $16.53 on Tuesday. 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 has a market cap of $1.54 billion, a PE ratio of -97.23, a PEG 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 business has a 50-day simple moving average of $17.56 and a two-hundred day simple moving average of $16.72.

Veris Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.94%. 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 dividend payout ratio (DPR) is -188.24%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded shares of Veris Residential from an “underweight” rating to a “neutral” rating and raised their price target for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th. Finally, Evercore ISI upped their price objective 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.

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.