Veris Residential, Inc. (NYSE:VRE) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Veris Residential, Inc. (NYSE:VRE - Free Report) by 3.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,470,536 shares of the company's stock after buying an additional 49,378 shares during the period. Charles Schwab Investment Management Inc. owned 1.58% of Veris Residential worth $26,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Veris Residential by 5.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,011 shares of the company's stock valued at $180,000 after acquiring an additional 663 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Veris Residential by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company's stock worth $51,000 after buying an additional 755 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Veris Residential by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the company's stock worth $608,000 after buying an additional 800 shares in the last quarter. abrdn plc grew its holdings in Veris Residential by 10.5% during the 3rd quarter. abrdn plc now owns 15,671 shares of the company's stock valued at $280,000 after buying an additional 1,495 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Veris Residential by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,070 shares of the company's stock valued at $601,000 after buying an additional 1,681 shares in the last quarter. 93.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Veris Residential from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, September 16th. Bank of America upgraded shares of Veris Residential from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $20.00 to $23.00 in a report on Tuesday, November 12th. Finally, Evercore ISI lifted 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 Stock Performance

Shares of NYSE VRE traded down $0.23 during mid-day trading on Thursday, hitting $17.45. The stock had a trading volume of 301,641 shares, compared to its average volume of 588,683. The company has a 50 day moving average of $17.61 and a two-hundred day moving average of $16.54. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $1.62 billion, a PE ratio of -102.61, a PEG ratio of 2.95 and a beta of 1.27.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.08 per share. This is an increase from Veris Residential's previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.83%. Veris Residential's payout ratio is -164.70%.

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.