Nomura Asset Management Co. Ltd. Grows Position in Veris Residential, Inc. (NYSE:VRE)

Nomura Asset Management Co. Ltd. boosted its position in Veris Residential, Inc. (NYSE:VRE) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Veris Residential were worth $1,786,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brookfield Corp ON acquired a new stake in shares of Veris Residential in the 3rd quarter valued at $4,561,000. Point72 Asset Management L.P. purchased a new position in Veris Residential in the third quarter valued at $263,000. Adelante Capital Management LLC acquired a new stake in Veris Residential in the third quarter valued at $11,001,000. HGI Capital Management LLC lifted its holdings in Veris Residential by 21.4% during the 3rd quarter. HGI Capital Management LLC now owns 266,707 shares of the company’s stock worth $4,763,000 after buying an additional 47,076 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $11,013,000 after acquiring an additional 512,406 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Veris Residential Stock Down 0.5 %

VRE stock opened at $17.50 on Friday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -102.94, a price-to-earnings-growth ratio of 2.91 and a beta of 1.27. The company has a fifty day moving average price of $17.60 and a 200 day moving average price of $16.65. 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 12 month low of $13.84 and a 12 month high of $18.85.

Veris Residential Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, December 31st. Veris Residential’s dividend payout ratio is presently -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.