Veris Residential (NYSE:VRE – Free Report) had its target price upped by JPMorgan Chase & Co. from $11.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.
Separately, Truist Financial cut their target price on Veris Residential from $15.00 to $14.00 and set a hold rating for the company in a research report on Tuesday, April 9th.
View Our Latest Report on Veris Residential
Veris Residential Trading Up 0.5 %
Shares of NYSE:VRE opened at $15.19 on Monday. Veris Residential has a twelve month low of $13.06 and a twelve month high of $18.98. 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 firm has a market cap of $1.41 billion, a P/E ratio of -15.19, a P/E/G ratio of 4.87 and a beta of 1.25. The company has a 50 day moving average of $15.02 and a 200-day moving average of $15.10.
Veris Residential Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Wednesday, July 3rd will be paid a $0.06 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.24 annualized dividend and a dividend yield of 1.58%. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. Veris Residential’s payout ratio is currently -21.00%.
Institutional Trading of Veris Residential
Several institutional investors and hedge funds have recently added to or reduced their stakes in VRE. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 88,634 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Veris Residential by 24.8% in the 3rd quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company’s stock worth $118,411,000 after acquiring an additional 1,425,528 shares during the last quarter. Aew Capital Management L P raised its position in shares of Veris Residential by 169.5% during the fourth quarter. Aew Capital Management L P now owns 1,555,610 shares of the company’s stock worth $24,470,000 after purchasing an additional 978,350 shares during the period. Victory Capital Management Inc. boosted its position in shares of Veris Residential by 29.6% in the 4th quarter. Victory Capital Management Inc. now owns 1,086,981 shares of the company’s stock valued at $17,098,000 after purchasing an additional 248,427 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Veris Residential by 115.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 764,760 shares of the company’s stock valued at $12,030,000 after purchasing an additional 409,631 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.
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.
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Source: defenseworld.net
