Veris Residential, Inc. (NYSE:VRE) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its holdings in Veris Residential, Inc. (NYSE:VRE) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 100,000 shares of the company’s stock after acquiring an additional 900 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.11% of Veris Residential worth $1,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veris Residential during the 2nd quarter worth $48,000. Quarry LP purchased a new position in Veris Residential during the second quarter worth about $48,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 755 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Veris Residential by 5.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,011 shares of the company’s stock valued at $180,000 after acquiring an additional 663 shares during the period. Finally, Natixis Advisors LLC acquired a new position in shares of Veris Residential in the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds own 93.04% of the company’s stock.

Wall Street Analyst Weigh In

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

Veris Residential Price Performance

Shares of VRE opened at $17.50 on Friday. The company has a market cap of $1.63 billion, a P/E ratio of -102.94, a PEG ratio of 2.91 and a beta of 1.27. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. 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 firm’s 50 day moving average price is $17.60 and its 200 day moving average price is $16.65.

Veris Residential Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.83%. This is a positive change from Veris Residential’s previous quarterly dividend of $0.07. Veris Residential’s dividend payout ratio is currently -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.