Illinois Municipal Retirement Fund Has $730,000 Stock Holdings in Veris Residential, Inc. (NYSE:VRE)

Illinois Municipal Retirement Fund cut its position in shares of Veris Residential, Inc. (NYSE:VRE) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,430 shares of the company’s stock after selling 799 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Veris Residential worth $730,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Duality Advisers LP acquired a new position in shares of Veris Residential during the 4th quarter worth about $300,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of Veris Residential by 60.0% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 394,323 shares of the company’s stock worth $6,203,000 after purchasing an additional 147,807 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Veris Residential by 6.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 96,398 shares of the company’s stock worth $1,516,000 after purchasing an additional 5,620 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Veris Residential during the 4th quarter worth about $631,000. Finally, LDR Capital Management LLC increased its stake in shares of Veris Residential by 31.2% during the 4th quarter. LDR Capital Management LLC now owns 152,103 shares of the company’s stock worth $2,393,000 after purchasing an additional 36,127 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Truist Financial lowered their price objective on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Tuesday, April 9th.

Veris Residential Stock Down 0.1 %

Shares of VRE opened at $14.52 on Tuesday. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.98. The firm has a market cap of $1.34 billion, a P/E ratio of -14.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.23. The firm’s 50-day simple moving average is $14.76 and its 200 day simple moving average is $14.89. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.35 and a current ratio of 2.35.

Veris Residential Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd were paid a $0.052 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.21 dividend on an annualized basis and a yield of 1.43%. Veris Residential’s dividend payout ratio (DPR) is currently -21.00%.

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.