Ridgewood Investments LLC Has $130,000 Stock Holdings in Veris Residential, Inc. (NYSE:VRE)

Ridgewood Investments LLC decreased its stake in Veris Residential, Inc. (NYSE:VRE) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,790 shares of the company’s stock after selling 2,000 shares during the period. Ridgewood Investments LLC’s holdings in Veris Residential were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Veris Residential by 35.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock valued at $51,000 after buying an additional 755 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Veris Residential by 0.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock worth $1,786,000 after acquiring an additional 900 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Veris Residential by 1.1% in the third quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock worth $2,079,000 after acquiring an additional 1,220 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Veris Residential by 12.3% in the third quarter. Van ECK Associates Corp now owns 13,492 shares of the company’s stock worth $235,000 after acquiring an additional 1,481 shares in the last quarter. Finally, abrdn plc boosted its holdings in Veris Residential by 10.5% in the third quarter. abrdn plc now owns 15,671 shares of the company’s stock worth $280,000 after acquiring an additional 1,495 shares in the last quarter. Institutional investors and hedge funds own 93.04% of the company’s stock.

Veris Residential Stock Down 1.7 %

VRE stock opened at $15.39 on Friday. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average is $17.31 and its 200-day moving average is $16.84. The firm has a market capitalization of $1.43 billion, a PE ratio of -90.52, a P/E/G ratio of 2.91 and a beta of 1.28.

Veris Residential Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Veris Residential’s previous quarterly dividend of $0.07. Veris Residential’s dividend payout ratio (DPR) is currently -188.24%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VRE. Bank of America upgraded Veris Residential from a “neutral” rating to a “buy” rating and increased their price target for the stock from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. upgraded Veris Residential from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $14.00 to $17.00 in a report on Tuesday, December 17th.

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.