B&I Capital AG Raises Holdings in Veris Residential, Inc. (NYSE:VRE)

B&I Capital AG boosted its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 30.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 539,390 shares of the company's stock after purchasing an additional 127,100 shares during the quarter. Veris Residential comprises about 2.6% of B&I Capital AG's investment portfolio, making the stock its 17th largest position. B&I Capital AG owned about 0.58% of Veris Residential worth $8,091,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in shares of Veris Residential by 5.8% in the second quarter. Van ECK Associates Corp now owns 12,011 shares of the company's stock valued at $180,000 after purchasing an additional 663 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Veris Residential by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,500 shares of the company's stock valued at $608,000 after purchasing an additional 800 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of Veris Residential by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 70,177 shares of the company's stock valued at $1,067,000 after buying an additional 897 shares in the last quarter. ProShare Advisors LLC increased its stake in Veris Residential by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,978 shares of the company's stock worth $243,000 after buying an additional 1,096 shares in the last quarter. Finally, Vert Asset Management LLC grew its holdings in shares of Veris Residential by 4.9% during the first quarter. Vert Asset Management LLC now owns 28,852 shares of the company's stock worth $439,000 after buying an additional 1,354 shares in the last quarter. Institutional investors own 93.04% of the company's stock.

Veris Residential Stock Performance

Shares of NYSE:VRE traded up $0.23 on Tuesday, reaching $17.37. The company's stock had a trading volume of 451,016 shares, compared to its average volume of 649,727. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.84 and a quick ratio of 0.84. Veris Residential, Inc. has a 52-week low of $13.06 and a 52-week high of $18.14. The stock's 50-day moving average is $16.12 and its two-hundred day moving average is $15.33. The stock has a market capitalization of $1.61 billion, a P/E ratio of -17.14, a PEG ratio of 6.54 and a beta of 1.25.

Veris Residential (NYSE:VRE - Get Free Report) last announced its earnings results on Wednesday, July 24th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.11). Veris Residential had a negative net margin of 21.79% and a negative return on equity of 8.55%. The company had revenue of $67.48 million during the quarter, compared to analysts' expectations of $67.73 million. During the same quarter last year, the business posted $0.16 earnings per share. As a group, sell-side analysts forecast that Veris Residential, Inc. will post 0.54 EPS for the current year.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, September 30th. This is a boost from Veris Residential's previous quarterly dividend of $0.06. Veris Residential's dividend payout ratio (DPR) is -24.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on VRE shares. Evercore ISI raised their target price on Veris Residential from $17.00 to $19.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 28th. Truist Financial decreased their target price on Veris Residential from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their target price on Veris Residential from $11.00 to $13.00 and gave the stock an "underweight" rating in a research report on Monday, June 17th.

Insider Activity

In other news, CEO Mahbod Nia purchased 35,000 shares of the business's stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of $14.32 per share, with a total value of $501,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 380,869 shares of the company's stock, valued at approximately $5,454,044.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Nori Gerardo Lietz bought 10,000 shares of the stock in a transaction on Thursday, June 20th. The shares were bought at an average cost of $14.31 per share, for a total transaction of $143,100.00. Following the completion of the transaction, the director now owns 39,687 shares of the company's stock, valued at approximately $567,920.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mahbod Nia bought 35,000 shares of the company's stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of $14.32 per share, with a total value of $501,200.00. Following the completion of the acquisition, the chief executive officer now owns 380,869 shares of the company's stock, valued at approximately $5,454,044.08. The disclosure for this purchase can be found here. Insiders own 15.00% of the company's stock.

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.