Verition Fund Management LLC Sells 160,685 Shares of Veris Residential, Inc. (NYSE:VRE)

Verition Fund Management LLC decreased its position in shares of Veris Residential, Inc. (NYSE:VRE - Free Report) by 37.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 269,114 shares of the company's stock after selling 160,685 shares during the period. Verition Fund Management LLC owned approximately 0.29% of Veris Residential worth $4,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HGI Capital Management LLC grew its position in Veris Residential by 21.4% during the third quarter. HGI Capital Management LLC now owns 266,707 shares of the company's stock valued at $4,763,000 after acquiring an additional 47,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Veris Residential by 491.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 616,605 shares of the company's stock valued at $11,013,000 after purchasing an additional 512,406 shares during the last quarter. FMR LLC raised its position in Veris Residential by 5,945.2% in the 3rd quarter. FMR LLC now owns 224,278 shares of the company's stock worth $4,006,000 after purchasing an additional 220,568 shares during the period. Daiwa Securities Group Inc. lifted its stake in Veris Residential by 2.6% in the third quarter. Daiwa Securities Group Inc. now owns 540,653 shares of the company's stock worth $9,656,000 after purchasing an additional 13,882 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Veris Residential by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,470,536 shares of the company's stock valued at $26,264,000 after buying an additional 49,378 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on VRE shares. JPMorgan Chase & Co. raised their target price 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. Bank of America raised Veris Residential from a "neutral" rating to a "buy" rating and raised their target price for the stock from $20.00 to $23.00 in a research note on Tuesday, November 12th. Finally, Evercore ISI increased their price objective on Veris Residential from $17.00 to $19.00 and gave the stock an "outperform" rating in a report on Wednesday, August 28th.

Veris Residential Stock Down 1.3 %

NYSE:VRE traded down $0.24 during mid-day trading on Tuesday, hitting $17.80. 420,656 shares of the company's stock were exchanged, compared to its average volume of 506,328. The company has a market cap of $1.65 billion, a PE ratio of -104.70, a P/E/G ratio of 2.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85. The business has a fifty day moving average price of $17.62 and a 200 day moving average price of $16.53.

Veris Residential Increases Dividend

The business also recently declared 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. This is a boost from Veris Residential's previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, December 31st. Veris Residential's payout ratio is currently -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.