B&I Capital AG Sells 270,440 Shares of Veris Residential, Inc. $VRE

B&I Capital AG reduced its position in Veris Residential, Inc. (NYSE:VRE) by 59.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 184,640 shares of the company’s stock after selling 270,440 shares during the period. Veris Residential accounts for approximately 1.0% of B&I Capital AG’s portfolio, making the stock its 26th largest holding. B&I Capital AG owned approximately 0.20% of Veris Residential worth $2,807,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VRE. DigitalBridge Group Inc. lifted its holdings in shares of Veris Residential by 16.0% in the second quarter. DigitalBridge Group Inc. now owns 818,694 shares of the company’s stock worth $12,190,000 after buying an additional 112,700 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Veris Residential by 107.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 64,631 shares of the company’s stock worth $962,000 after purchasing an additional 33,435 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Veris Residential by 11.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 490,403 shares of the company’s stock valued at $7,302,000 after purchasing an additional 50,924 shares during the last quarter. Bank of New York Mellon Corp grew its position in Veris Residential by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 667,038 shares of the company’s stock valued at $9,932,000 after acquiring an additional 21,876 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Veris Residential by 5.9% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,210,116 shares of the company’s stock worth $18,019,000 after acquiring an additional 67,709 shares during the last quarter. Institutional investors own 93.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.67.

Veris Residential Stock Performance

Shares of VRE opened at $15.20 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. The stock has a market cap of $1.42 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.33 and a beta of 1.25. The business’s 50 day moving average price is $14.81 and its 200-day moving average price is $14.84. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $17.18.

Veris Residential Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, December 31st. Veris Residential’s dividend payout ratio is 47.76%.

About Veris Residential

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.