Quest Partners LLC Acquires 45,737 Shares of Veris Residential, Inc. (NYSE:VRE)

Quest Partners LLC lifted its holdings in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 302.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,842 shares of the company's stock after purchasing an additional 45,737 shares during the quarter. Quest Partners LLC owned 0.07% of Veris Residential worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of VRE. Allspring Global Investments Holdings LLC raised its holdings in Veris Residential by 417.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company's stock worth $41,000 after buying an additional 2,167 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Veris Residential during the second quarter worth $48,000. Quarry LP acquired a new stake in shares of Veris Residential during the second quarter worth $48,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Veris Residential by 35.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company's stock valued at $51,000 after acquiring an additional 755 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Veris Residential in the 1st quarter worth $156,000. Institutional investors own 93.04% of the company's stock.

Analyst Upgrades and Downgrades

VRE has been the topic of a number of research reports. Evercore ISI boosted their price target on Veris Residential from $17.00 to $19.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Veris Residential from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Monday, September 16th. Finally, Bank of America raised shares of Veris Residential from a "neutral" rating to a "buy" rating and raised their price target for the stock from $20.00 to $23.00 in a research note on Tuesday, November 12th.

Veris Residential Stock Up 0.8 %

Shares of Veris Residential stock traded up $0.14 on Thursday, reaching $18.39. 227,176 shares of the company were exchanged, compared to its average volume of 589,758. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -108.17, a PEG ratio of 3.03 and a beta of 1.26. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a one year low of $13.28 and a one year high of $18.85. The company has a 50-day moving average of $17.57 and a 200 day moving average of $16.36.

Veris Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This is a positive change from Veris Residential's previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 31st. Veris Residential's dividend 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.