Daiwa Securities Group Inc. Acquires 13,882 Shares of Veris Residential, Inc. (NYSE:VRE)

by · The Markets Daily

Daiwa Securities Group Inc. lifted its holdings in shares of Veris Residential, Inc. (NYSE:VRE – Free Report) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 540,653 shares of the company’s stock after acquiring an additional 13,882 shares during the quarter. Daiwa Securities Group Inc. owned 0.58% of Veris Residential worth $9,656,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Veris Residential during the 2nd quarter valued at approximately $48,000. Quarry LP bought a new position in Veris Residential during the second quarter valued at $48,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 valued at $51,000 after purchasing an additional 755 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Veris Residential in the first quarter valued at $156,000. Finally, Van ECK Associates Corp raised its stake 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 buying an additional 663 shares during the period. 93.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on VRE. Evercore ISI lifted 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. Bank of America upgraded shares of Veris Residential from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $20.00 to $23.00 in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, September 16th.

View Our Latest Research Report on VRE

Veris Residential Trading Down 0.8 %

Shares of VRE opened at $18.29 on Tuesday. Veris Residential, Inc. has a twelve month low of $13.28 and a twelve month high of $18.85. The stock has a market cap of $1.70 billion, a PE ratio of -107.58, a P/E/G ratio of 3.05 and a beta of 1.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The business’s 50-day moving average price is $17.59 and its 200-day moving average price is $16.41.

Veris Residential Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors 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 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 dividend payout ratio is -164.70%.

Veris Residential Profile

(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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