Norges Bank Buys New Stake in Veris Residential, Inc. (NYSE:VRE)

Norges Bank bought a new stake in Veris Residential, Inc. (NYSE:VREFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 518,398 shares of the company’s stock, valued at approximately $8,154,000. Norges Bank owned 0.56% of Veris Residential at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Veris Residential by 19.7% during the 4th quarter. Van ECK Associates Corp now owns 11,088 shares of the company’s stock valued at $174,000 after purchasing an additional 1,823 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of Veris Residential during the 4th quarter worth $219,000. SG Americas Securities LLC boosted its stake in shares of Veris Residential by 60.7% during the 4th quarter. SG Americas Securities LLC now owns 14,051 shares of the company’s stock worth $221,000 after acquiring an additional 5,309 shares in the last quarter. Duality Advisers LP acquired a new stake in shares of Veris Residential in the fourth quarter worth $300,000. Finally, Jump Financial LLC acquired a new stake in shares of Veris Residential in the third quarter worth $308,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Truist Financial cut their price objective on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a report on Tuesday, April 9th.

Check Out Our Latest Stock Report on Veris Residential

Veris Residential Price Performance

NYSE VRE opened at $15.42 on Friday. Veris Residential, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $18.98. The stock’s 50-day moving average is $14.96 and its two-hundred day moving average is $15.02. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.35 and a quick ratio of 2.35. The firm has a market cap of $1.43 billion, a P/E ratio of -15.42, a price-to-earnings-growth ratio of 5.05 and a beta of 1.25.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Wednesday, July 3rd will be issued a dividend of $0.06 per share. This is a positive change from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.56%. The ex-dividend date is Wednesday, July 3rd. Veris Residential’s dividend payout ratio (DPR) is -21.00%.

About Veris Residential

(Free Report)

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.

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Institutional Ownership by Quarter for Veris Residential (NYSE:VRE)

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