Veris Residential, Inc. (NYSE:VRE) Shares Acquired by abrdn plc

abrdn plc lifted its position in shares of Veris Residential, Inc. (NYSE:VRE) by 90.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,821 shares of the company’s stock after purchasing an additional 14,150 shares during the period. abrdn plc’s holdings in Veris Residential were worth $490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Veris Residential by 35.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock valued at $51,000 after purchasing an additional 755 shares during the last quarter. Natixis Advisors LLC purchased a new position in Veris Residential during the 3rd quarter valued at about $203,000. Van ECK Associates Corp raised its position in shares of Veris Residential by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 13,492 shares of the company’s stock worth $235,000 after purchasing an additional 1,481 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Veris Residential during the third quarter valued at $263,000. Finally, Tidal Investments LLC acquired a new position in shares of Veris Residential in the third quarter valued at approximately $397,000. 93.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VRE has been the subject of several research reports. Bank of America raised shares of Veris Residential from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $23.00 in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised Veris Residential from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $17.00 in a research report on Tuesday, December 17th.

Veris Residential Trading Down 0.3 %

Veris Residential stock opened at $15.95 on Wednesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day moving average is $16.43 and its 200-day moving average is $16.96. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85. The company has a market cap of $1.48 billion, a P/E ratio of -93.79, a PEG ratio of 2.57 and a beta of 1.27.

Veris Residential 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.