UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 491.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 616,605 shares of the company's stock after purchasing an additional 512,406 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.66% of Veris Residential worth $11,013,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Veris Residential in the second quarter valued at approximately $48,000. Quarry LP purchased a new position in shares of Veris Residential during the 2nd quarter worth $48,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 purchasing an additional 755 shares during the last quarter. Van ECK Associates Corp grew its position 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. Finally, Natixis Advisors LLC purchased a new position in Veris Residential during the third quarter worth about $203,000. 93.04% of the stock is currently owned by hedge funds and other institutional investors.
Veris Residential Trading Up 0.6 %
Shares of NYSE:VRE traded up $0.11 during trading on Friday, reaching $17.56. 249,734 shares of the stock were exchanged, compared to its average volume of 457,896. Veris Residential, Inc. has a 12-month low of $13.84 and a 12-month high of $18.85. The firm's 50-day moving average price is $17.61 and its 200 day moving average price is $16.56. 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 $1.63 billion, a price-to-earnings ratio of -103.29, a price-to-earnings-growth ratio of 2.92 and a beta of 1.27.
Veris Residential Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 1.82%. This is a positive change from Veris Residential's previous quarterly dividend of $0.07. Veris Residential's dividend payout ratio is presently -164.70%.
Analysts Set New Price Targets
VRE has been the subject of several recent analyst reports. Evercore ISI lifted 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. Bank of America raised shares of Veris Residential from a "neutral" rating to a "buy" rating and upped their price target for the stock from $20.00 to $23.00 in a research report 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 company an "underweight" rating in a report on Monday, September 16th.
Read Our Latest Stock Report on VRE
About Veris Residential
(
Free Report)
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.
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