Veris Residential, Inc. (NYSE:VRE) CEO Acquires $501,200.00 in Stock

Veris Residential, Inc. (NYSE:VRE) CEO Mahbod Nia bought 35,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $14.32 per share, for a total transaction of $501,200.00. Following the completion of the acquisition, the chief executive officer now owns 380,869 shares in the company, valued at $5,454,044.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Veris Residential Price Performance

Shares of NYSE:VRE opened at $14.60 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.35 billion, a PE ratio of -14.60, a price-to-earnings-growth ratio of 4.53 and a beta of 1.25. The stock’s fifty day simple moving average is $14.99 and its two-hundred day simple moving average is $15.09. Veris Residential, Inc. has a 1-year low of $13.06 and a 1-year high of $18.98.

Veris Residential Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Wednesday, July 3rd will be given a dividend of $0.06 per share. This is a positive change from Veris Residential’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, July 3rd. Veris Residential’s dividend payout ratio (DPR) is presently -21.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRE. Texas Permanent School Fund Corp increased its position in shares of Veris Residential by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 70,177 shares of the company’s stock valued at $1,067,000 after acquiring an additional 897 shares during the last quarter. Ranger Global Real Estate Advisors LLC increased its position in shares of Veris Residential by 0.3% during the 3rd quarter. Ranger Global Real Estate Advisors LLC now owns 303,382 shares of the company’s stock valued at $5,006,000 after purchasing an additional 915 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Veris Residential by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 15,978 shares of the company’s stock worth $243,000 after purchasing an additional 1,096 shares during the period. Vert Asset Management LLC boosted its holdings in shares of Veris Residential by 4.9% in the 1st quarter. Vert Asset Management LLC now owns 28,852 shares of the company’s stock worth $439,000 after buying an additional 1,354 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Veris Residential by 1.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 91,500 shares of the company’s stock valued at $1,439,000 after buying an additional 1,700 shares during the period. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI lowered their price objective on shares of Veris Residential from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Truist Financial lowered their target price on shares of Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on shares of Veris Residential from $11.00 to $13.00 and gave the company an “underweight” rating in a research report on Monday, June 17th.

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.