Daiwa Securities Group Inc. Grows Position in Veris Residential, Inc. (NYSE:VRE)

Daiwa Securities Group Inc. grew its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 2.6% in the third quarter, HoldingsChannel.com reports. The fund owned 540,653 shares of the company’s stock after purchasing an additional 13,882 shares during the period. Daiwa Securities Group Inc.’s holdings in Veris Residential were worth $9,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Veris Residential by 0.7% in the first quarter. Vanguard Group Inc. now owns 12,439,064 shares of the company’s stock valued at $189,198,000 after acquiring an additional 88,634 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Veris Residential by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,470,536 shares of the company’s stock worth $26,264,000 after purchasing an additional 49,378 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Veris Residential by 0.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,200,470 shares of the company’s stock valued at $21,440,000 after purchasing an additional 6,421 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Veris Residential by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,147,843 shares of the company’s stock valued at $17,217,000 after buying an additional 65,180 shares in the last quarter. Finally, DigitalBridge Group Inc. bought a new stake in Veris Residential in the 2nd quarter worth approximately $13,673,000. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

VRE has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, September 16th. Bank of America raised shares of Veris Residential from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $23.00 in a research note on Tuesday, November 12th. Finally, 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.

Veris Residential Stock Performance

Shares of NYSE:VRE opened at $18.29 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $17.59 and a 200-day moving average price of $16.41. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -107.58, a price-to-earnings-growth ratio of 3.05 and a beta of 1.26. Veris Residential, Inc. has a 12 month low of $13.28 and a 12 month high of $18.85.

Veris Residential Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This is a positive change from Veris Residential’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 1.75%. Veris Residential’s dividend payout ratio is presently -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.