Quest Partners LLC Has $1.09 Million Stake in Veris Residential, Inc. (NYSE:VRE)

Quest Partners LLC boosted its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 302.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,842 shares of the company's stock after acquiring 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 reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Veris Residential by 417.5% during the first 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Veris Residential during the second quarter worth $48,000. Quarry LP bought a new stake in shares of Veris Residential during the second quarter worth $48,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Veris Residential by 35.5% during 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 during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Veris Residential during the first quarter worth $156,000. 93.04% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Veris Residential from $17.00 to $19.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 28th. Bank of America raised 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 research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Veris Residential from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Monday, September 16th.

Veris Residential Price Performance

Shares of NYSE:VRE opened at $18.25 on Thursday. The firm has a market cap of $1.70 billion, a PE ratio of -107.35, a price-to-earnings-growth ratio of 3.01 and a beta of 1.26. The firm's fifty day moving average is $17.55 and its 200-day moving average is $16.34. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. Veris Residential, Inc. has a 52 week low of $13.28 and a 52 week high of $18.85.

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Veris Residential's previous quarterly dividend of $0.07. Veris Residential's payout ratio is -188.24%.

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.