Citigroup Inc. lowered its stake in Veris Residential, Inc. (NYSE:VRE – Free Report) by 41.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,445 shares of the company’s stock after selling 38,838 shares during the period. Citigroup Inc. owned approximately 0.06% of Veris Residential worth $898,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in Veris Residential by 371.5% in the first quarter. Tower Research Capital LLC TRC now owns 2,263 shares of the company’s stock worth $33,000 after purchasing an additional 1,783 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Veris Residential by 53.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,824 shares of the company’s stock worth $45,000 after purchasing an additional 981 shares during the last quarter. Captrust Financial Advisors bought a new stake in Veris Residential in the second quarter worth about $61,000. Allspring Global Investments Holdings LLC lifted its stake in Veris Residential by 144.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,382 shares of the company’s stock worth $102,000 after purchasing an additional 3,768 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its stake in Veris Residential by 9.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,763 shares of the company’s stock worth $124,000 after purchasing an additional 651 shares during the last quarter. Institutional investors own 86.94% of the company’s stock.
Veris Residential Stock Up 0.4 %
Shares of NYSE VRE opened at $14.59 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $1.35 billion, a P/E ratio of -11.86, a PEG ratio of 3.00 and a beta of 1.25. Veris Residential, Inc. has a 1 year low of $13.06 and a 1 year high of $18.98. The firm has a 50-day simple moving average of $15.36 and a two-hundred day simple moving average of $15.72.
Veris Residential Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Friday, December 29th were paid a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Thursday, December 28th. This is an increase from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s payout ratio is currently -17.07%.
About Veris Residential
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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