Nori Gerardo Lietz Acquires 10,000 Shares of Veris Residential, Inc. (NYSE:VRE) Stock

Veris Residential, Inc. (NYSE:VRE) Director Nori Gerardo Lietz acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $14.31 per share, with a total value of $143,100.00. Following the completion of the acquisition, the director now owns 39,687 shares in the company, valued at $567,920.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Veris Residential Trading Down 1.0 %

Shares of VRE stock opened at $14.41 on Wednesday. Veris Residential, Inc. has a 1 year low of $13.06 and a 1 year high of $18.98. The firm has a fifty day moving average price of $14.98 and a 200-day moving average price of $15.09. 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 company has a market cap of $1.33 billion, a price-to-earnings ratio of -14.41, a PEG ratio of 4.64 and a beta of 1.25.

Veris Residential Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Wednesday, July 3rd will be given a dividend of $0.06 per share. This is an increase from Veris Residential’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.67%. Veris Residential’s payout ratio is presently -21.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VRE. Truist Financial decreased their target price on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday. JPMorgan Chase & Co. boosted their target price on shares of Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Monday, June 17th. Finally, Evercore ISI decreased their target price on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th.

Institutional Investors Weigh In On Veris Residential

A number of hedge funds have recently modified their holdings of VRE. Allspring Global Investments Holdings LLC grew its position in shares of Veris Residential by 417.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company’s stock valued at $41,000 after acquiring an additional 2,167 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Veris Residential during the 1st quarter valued at $152,000. Quadrature Capital Ltd bought a new stake in shares of Veris Residential during the 1st quarter valued at $156,000. Cornerstone Investment Partners LLC bought a new stake in shares of Veris Residential during the 1st quarter valued at $167,000. Finally, Van ECK Associates Corp boosted its holdings in Veris Residential by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 11,088 shares of the company’s stock worth $174,000 after buying an additional 1,823 shares during the period. Institutional investors own 93.04% of the company’s stock.

Veris Residential Company 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.