Veris Residential, Inc. (NYSE:VRE) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Veris Residential, Inc. (NYSE:VRE) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,398 shares of the company’s stock after acquiring an additional 5,620 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.10% of Veris Residential worth $1,516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC grew its stake in shares of Veris Residential by 60.7% in the 4th quarter. SG Americas Securities LLC now owns 14,051 shares of the company’s stock worth $221,000 after purchasing an additional 5,309 shares during the last quarter. abrdn plc boosted its holdings in Veris Residential by 11.4% during the third quarter. abrdn plc now owns 17,377 shares of the company’s stock worth $287,000 after buying an additional 1,774 shares in the last quarter. Jump Financial LLC acquired a new position in Veris Residential in the third quarter worth approximately $308,000. Los Angeles Capital Management LLC bought a new position in shares of Veris Residential in the third quarter valued at $363,000. Finally, UniSuper Management Pty Ltd increased its holdings in shares of Veris Residential by 5.1% in the third 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 in the last quarter. 93.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Truist Financial decreased their target price on Veris Residential from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Tuesday, April 9th.

Veris Residential Stock Down 0.6 %

VRE stock opened at $15.06 on Thursday. 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 firm has a market capitalization of $1.39 billion, a P/E ratio of -12.24, a P/E/G ratio of 2.87 and a beta of 1.23. Veris Residential, Inc. has a 52-week low of $13.06 and a 52-week high of $18.98. The company’s 50 day simple moving average is $14.83 and its 200-day simple moving average is $14.93.

Veris Residential Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Wednesday, April 3rd were paid a dividend of $0.052 per share. This represents a $0.21 annualized dividend and a yield of 1.38%. The ex-dividend date was Tuesday, April 2nd. Veris Residential’s dividend payout ratio (DPR) is currently -17.07%.

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.