Knights of Columbus Asset Advisors LLC Invests $711,000 in Veris Residential, Inc. $VRE

Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Veris Residential, Inc. (NYSE:VRE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 46,744 shares of the company’s stock, valued at approximately $711,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DigitalBridge Group Inc. boosted its stake in 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 lifted 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 acquiring an additional 33,435 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Veris Residential by 11.6% in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Veris Residential by 3.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 667,038 shares of the company’s stock valued at $9,932,000 after purchasing an additional 21,876 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Veris Residential by 5.9% during the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,210,116 shares of the company’s stock valued at $18,019,000 after purchasing an additional 67,709 shares during the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on VRE. Wall Street Zen raised shares of Veris Residential from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Veris Residential has an average rating of “Hold” and an average price target of $18.67.

Veris Residential Price Performance

VRE stock opened at $15.20 on Friday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.33 and a beta of 1.25. The firm’s 50-day moving average price is $14.81 and its two-hundred day moving average price is $14.85. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.13. Veris Residential, Inc. has a 12-month low of $13.69 and a 12-month high of $17.18.

Veris Residential Announces Dividend

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

Veris Residential Company Profile

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.