Y Intercept Hong Kong Ltd Lowers Position in Veris Residential, Inc. (NYSE:VRE)

Y Intercept Hong Kong Ltd lessened its stake in Veris Residential, Inc. (NYSE:VREFree Report) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,041 shares of the company’s stock after selling 3,144 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Veris Residential were worth $679,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Brookfield Corp ON purchased a new position in shares of Veris Residential during the 3rd quarter valued at approximately $4,561,000. Point72 Asset Management L.P. purchased a new position in shares of Veris Residential during the 3rd quarter valued at approximately $263,000. Adelante Capital Management LLC purchased a new position in shares of Veris Residential during the 3rd quarter valued at approximately $11,001,000. HGI Capital Management LLC lifted its position in shares of Veris Residential by 21.4% during the 3rd quarter. HGI Capital Management LLC now owns 266,707 shares of the company’s stock valued at $4,763,000 after buying an additional 47,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Veris Residential by 491.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 616,605 shares of the company’s stock valued at $11,013,000 after buying an additional 512,406 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Veris Residential Stock Down 0.5 %

NYSE VRE opened at $17.50 on Friday. The business has a fifty day moving average price of $17.60 and a 200 day moving average price of $16.65. Veris Residential, Inc. has a one year low of $13.84 and a one year high of $18.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $1.63 billion, a P/E ratio of -102.94, a P/E/G ratio of 2.91 and a beta of 1.27.

Veris Residential Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This is an increase from Veris Residential’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, December 31st. Veris Residential’s dividend payout ratio is currently -188.24%.

Analyst Upgrades and Downgrades

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

Get Our Latest Stock Analysis on Veris Residential

About Veris Residential

(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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Institutional Ownership by Quarter for Veris Residential (NYSE:VRE)

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