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

Knights of Columbus Asset Advisors LLC acquired a new position in Veris Residential, Inc. (NYSE:VRE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 46,744 shares of the company’s stock, valued at approximately $711,000. Knights of Columbus Asset Advisors LLC owned about 0.05% of Veris Residential as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VRE. Balyasny Asset Management L.P. boosted its position in Veris Residential by 138.7% during the second quarter. Balyasny Asset Management L.P. now owns 1,068,102 shares of the company’s stock worth $15,904,000 after purchasing an additional 620,708 shares during the period. Prudential Financial Inc. lifted its stake in shares of Veris Residential by 9.3% during the 2nd quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company’s stock valued at $74,137,000 after buying an additional 423,683 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Veris Residential by 72.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock worth $17,033,000 after buying an additional 423,482 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Veris Residential by 62.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 991,419 shares of the company’s stock worth $14,762,000 after buying an additional 382,040 shares during the period. Finally, Legal & General Group Plc grew its stake in Veris Residential by 54.8% in the 2nd quarter. Legal & General Group Plc now owns 837,050 shares of the company’s stock valued at $12,464,000 after buying an additional 296,265 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Price Performance

NYSE:VRE opened at $15.20 on Friday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 2.33 and a beta of 1.25. Veris Residential, Inc. has a 52-week low of $13.69 and a 52-week high of $17.18. The stock has a fifty day moving average of $14.81 and a 200 day moving average of $14.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.53 and a current ratio of 0.53.

Veris Residential Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.