Wellington Management Takes 5.0% Passive Stake in Veris Residential

TL;DR

**Wellington Management just revealed a 5% passive stake in Veris Residential, signaling institutional confidence.**

AI Summary

Wellington Management Group LLP, a major investment firm, reported owning 5.0% of Veris Residential, Inc.'s common stock as of December 29, 2023. This filing, an SC 13G, indicates that Wellington is a passive investor, meaning they don't intend to influence company management. For current or prospective shareholders of Veris Residential, this signals that a large, respected institutional investor sees value in the company, potentially boosting confidence in the stock.

Why It Matters

This shows a significant institutional investor, Wellington Management, has a substantial stake in Veris Residential, which can be seen as a vote of confidence in the company's future.

Risk Assessment

Risk Level: low — This filing indicates a passive investment, which generally carries lower risk as the investor isn't seeking to disrupt company operations.

Analyst Insight

A smart investor would view this as a positive signal, indicating that a large, reputable firm sees value in Veris Residential. It might prompt further research into Veris Residential's fundamentals and future prospects, potentially leading to a buy decision if other factors align.

Key Numbers

• 5.0% — Ownership Stake (Percentage of Veris Residential's common stock owned by Wellington Management Group LLP.)

Key Players & Entities

• Wellington Management Group LLP (company) — the investment firm reporting the stake
• Veris Residential, Inc. (company) — the subject company in which shares were acquired
• December 29, 2023 (date) — the date of the event requiring the filing
• 5.0% (dollar_amount) — the percentage of common stock owned by Wellington Management

Forward-Looking Statements

• Veris Residential's stock price may see a slight positive reaction due to increased institutional ownership. (Veris Residential, Inc.) — medium confidence, target: within 1 week

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G) — 35KB
• 0000902219-24-000188.txt ( ) — 37KB

From the Filing

SC 13G 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _ ) * Veris Residential, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 554489104 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 554489104 1. NAMES OF REPORTING PERSONS Wellington Management Group LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,935,031 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 5,813,439 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,813,439 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.30% 12. TYPE OF REPORTING PERSON HC CUSIP No. 554489104 1. NAMES OF REPORTING PERSONS Wellington Group Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,935,031 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 5,813,439 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,813,439 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.30% 12. TYPE OF REPORTING PERSON HC CUSIP No. 554489104 1. NAMES OF REPORTING PERSONS Wellington Investment Advisors Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,935,031 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 5,813,439 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,813,439 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.30% 12. TYPE OF REPORTING PERSON HC CUSIP No. 554489104 1. NAMES OF REPORTING PERSONS Wellington Management Company LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,727,290 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 5,187,235 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,187,235 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.62% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Veris Residential, Inc. (b) Address of Issuer's Principal Executive Offices Harborside 3, 210 Hudson St., Ste. 400 Jersey City, NJ 07311 Item 2. (a) Name of Person Filing Wellington Management Group LLP Wellington Group Holdings LLP Wellington Investment Advisors Holdings LLP Wellington Management Company LLP (b) Address of Principal Business Office or, if None, Residence c/o Wellington Management Company LLP 280 Congress Street Boston, MA 02210 (c) Citizenship Wellington Management Group LLP - Massachusetts Wellington Group Holdings LLP - Delaware Wellington Investment Advisors Holdings LLP - Delaware Wellington Management Company LLP - Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 554489104 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company

View Full Filing

View this SC 13G filing on SEC EDGAR