OVERSEA CHINESE BANKING Corp Ltd Grows Position in Veris Residential, Inc. (NYSE:VRE)

OVERSEA CHINESE BANKING Corp Ltd grew its position in Veris Residential, Inc. (NYSE:VRE - Free Report) by 60.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,323 shares of the company's stock after purchasing an additional 147,807 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.43% of Veris Residential worth $6,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of VRE. State Street Corp bought a new position in shares of Veris Residential in the second quarter worth approximately $70,860,000. Wellington Management Group LLP boosted its position in shares of Veris Residential by 24.8% in the third quarter. Wellington Management Group LLP now owns 7,176,422 shares of the company's stock worth $118,411,000 after purchasing an additional 1,425,528 shares during the period. Norges Bank bought a new position in shares of Veris Residential in the fourth quarter worth approximately $17,808,000. Northern Trust Corp bought a new position in shares of Veris Residential in the second quarter worth approximately $13,575,000. Finally, Legal & General Group Plc bought a new position in shares of Veris Residential in the second quarter worth approximately $8,578,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Price Performance

Shares of NYSE:VRE traded up $0.26 during midday trading on Friday, reaching $14.43. 595,584 shares of the company were exchanged, compared to its average volume of 423,327. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.45. The business's fifty day moving average is $14.83 and its two-hundred day moving average is $14.95. Veris Residential, Inc. has a one year low of $13.06 and a one year high of $18.98. The stock has a market cap of $1.33 billion, a PE ratio of -11.73, a price-to-earnings-growth ratio of 2.73 and a beta of 1.23.

Veris Residential Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Wednesday, April 3rd were given a dividend of $0.052 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.21 dividend on an annualized basis and a dividend yield of 1.44%. Veris Residential's dividend payout ratio is -17.07%.

Analysts Set New Price Targets

Separately, Truist Financial dropped their target price on shares of Veris Residential from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Tuesday, April 9th.

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.