SG Americas Securities LLC Purchases 5,309 Shares of Veris Residential, Inc. (NYSE:VRE)

SG Americas Securities LLC increased its position in Veris Residential, Inc. (NYSE:VRE) by 60.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,051 shares of the company’s stock after buying an additional 5,309 shares during the quarter. SG Americas Securities LLC’s holdings in Veris Residential were worth $221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of VRE. Wellington Management Group LLP lifted its position in Veris Residential by 24.8% in the third quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock valued at $118,411,000 after purchasing an additional 1,425,528 shares during the last quarter. Qube Research & Technologies Ltd lifted its position in Veris Residential by 157.1% in the third quarter. Qube Research & Technologies Ltd now owns 226,054 shares of the company’s stock valued at $3,730,000 after purchasing an additional 138,128 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Veris Residential by 22.4% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 246,516 shares of the company’s stock valued at $4,068,000 after purchasing an additional 45,194 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in Veris Residential in the third quarter valued at approximately $779,000. Finally, Nisa Investment Advisors LLC lifted its position in Veris Residential by 5.3% in the third quarter. Nisa Investment Advisors LLC now owns 35,007 shares of the company’s stock valued at $578,000 after purchasing an additional 1,770 shares during the last quarter. Institutional investors own 93.04% of the company’s stock.

Veris Residential Price Performance

Shares of Veris Residential stock opened at $14.34 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.45. The company has a market cap of $1.32 billion, a PE ratio of -11.66, a P/E/G ratio of 2.82 and a beta of 1.23. The business has a 50 day moving average of $14.92 and a 200 day moving average of $15.04. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.98.

Veris Residential Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd will be issued a dividend of $0.052 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.45%. Veris Residential’s dividend payout ratio is presently -17.07%.

Wall Street Analyst Weigh In

Separately, Truist Financial lowered their price objective on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Tuesday.

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.