Veris Residential (NYSE:VRE) Shares Gap Down to $15.19

Veris Residential, Inc. (NYSE:VREGet Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $15.19, but opened at $14.66. Veris Residential shares last traded at $14.33, with a volume of 192,181 shares changing hands.

Analyst Ratings Changes

A number of research firms have weighed in on VRE. JPMorgan Chase & Co. upped their price target on shares of Veris Residential from $11.00 to $13.00 and gave the stock an “underweight” rating in a research report on Monday. Truist Financial cut their price target on Veris Residential from $15.00 to $14.00 and set a “hold” rating for the company in a report on Tuesday, April 9th.

Check Out Our Latest Stock Report on VRE

Veris Residential Price Performance

The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market cap of $1.32 billion, a PE ratio of -14.35, a price-to-earnings-growth ratio of 4.87 and a beta of 1.25. The stock has a 50 day simple moving average of $15.02 and a two-hundred day simple moving average of $15.10.

Veris Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Wednesday, July 3rd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.69%. This is a boost from Veris Residential’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, July 3rd. Veris Residential’s payout ratio is presently -21.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its holdings in shares of Veris Residential by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 70,177 shares of the company’s stock worth $1,067,000 after purchasing an additional 897 shares during the last quarter. Ranger Global Real Estate Advisors LLC raised 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 buying an additional 915 shares during the period. ProShare Advisors LLC raised its position 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 valued at $243,000 after buying an additional 1,096 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Veris Residential by 5.1% during the 3rd quarter. UniSuper Management Pty Ltd now owns 22,800 shares of the company’s stock valued at $376,000 after buying an additional 1,100 shares during the period. Finally, Vert Asset Management LLC raised its position in shares of Veris Residential by 4.9% during the 1st quarter. Vert Asset Management LLC now owns 28,852 shares of the company’s stock valued at $439,000 after buying an additional 1,354 shares during the period. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Company Profile

(Get Free Report)

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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