Veris Residential (NYSE:VRE - Free Report) had its price objective lowered by Truist Financial from $15.00 to $14.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the stock.
Veris Residential Stock Up 0.9 %
VRE traded up $0.14 on Tuesday, reaching $15.18. 372,182 shares of the company traded hands, compared to its average volume of 709,444. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -12.30, a PEG ratio of 2.84 and a beta of 1.23. 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 stock's 50 day moving average price is $14.97 and its 200-day moving average price is $15.07. Veris Residential has a 52-week low of $13.06 and a 52-week high of $18.98.
Veris Residential Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Wednesday, April 3rd will be paid a $0.052 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Tuesday, April 2nd. Veris Residential's dividend payout ratio (DPR) is presently -17.07%.
Institutional Trading of Veris Residential
A number of institutional investors have recently bought and sold shares of VRE. Tower Research Capital LLC TRC increased its position in Veris Residential by 371.5% in the 1st 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. increased its holdings 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 buying an additional 981 shares during the last quarter. Captrust Financial Advisors bought a new position in Veris Residential during the second quarter valued at approximately $61,000. M&T Bank Corp bought a new position in Veris Residential during the third quarter valued at approximately $115,000. 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 valued at $124,000 after acquiring an additional 651 shares during the last quarter. Institutional investors and hedge funds own 93.04% of the company's stock.
Veris Residential Company Profile
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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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