Duality Advisers LP Invests $300,000 in Veris Residential, Inc. (NYSE:VRE)

Duality Advisers LP acquired a new position in Veris Residential, Inc. (NYSE:VRE) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 19,070 shares of the company’s stock, valued at approximately $300,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in shares of Veris Residential by 60.7% during the fourth quarter. SG Americas Securities LLC now owns 14,051 shares of the company’s stock worth $221,000 after acquiring an additional 5,309 shares during the last quarter. abrdn plc boosted its position in shares of 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 acquiring an additional 1,774 shares during the last quarter. Jump Financial LLC bought a new position in shares of Veris Residential during the third quarter worth $308,000. Los Angeles Capital Management LLC bought a new position in shares of Veris Residential during the third quarter worth $363,000. Finally, UniSuper Management Pty Ltd boosted its position in shares of Veris Residential by 5.1% during the third quarter. UniSuper Management Pty Ltd now owns 22,800 shares of the company’s stock worth $376,000 after acquiring an additional 1,100 shares during the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Price Performance

VRE stock opened at $14.54 on Friday. Veris Residential, Inc. has a 52 week low of $13.06 and a 52 week high of $18.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.45. The company has a fifty day simple moving average of $14.79 and a two-hundred day simple moving average of $14.92. The firm has a market capitalization of $1.34 billion, a P/E ratio of -14.54, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23.

Veris Residential Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders 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 annualized dividend and a yield of 1.43%. Veris Residential’s dividend payout ratio (DPR) is currently -21.00%.

Wall Street Analysts Forecast Growth

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 Company 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.