Yousif Capital Management LLC Reduces Stake in Veris Residential, Inc. (NYSE:VRE)

Yousif Capital Management LLC reduced its position in Veris Residential, Inc. (NYSE:VRE) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,634 shares of the company’s stock after selling 666 shares during the period. Yousif Capital Management LLC’s holdings in Veris Residential were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Adelante Capital Management LLC purchased a new position in Veris Residential during the third quarter valued at $11,001,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Veris Residential by 491.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 616,605 shares of the company’s stock valued at $11,013,000 after purchasing an additional 512,406 shares in the last quarter. Brookfield Corp ON purchased a new position in Veris Residential during the third quarter valued at $4,561,000. FMR LLC lifted its position in Veris Residential by 5,945.2% during the third quarter. FMR LLC now owns 224,278 shares of the company’s stock valued at $4,006,000 after purchasing an additional 220,568 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Veris Residential by 11.7% during the third quarter. JPMorgan Chase & Co. now owns 2,102,857 shares of the company’s stock valued at $37,557,000 after purchasing an additional 219,901 shares in the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on VRE shares. Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and raised their price target for the company from $20.00 to $23.00 in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised Veris Residential from an “underweight” rating to a “neutral” rating and raised their price target for the company from $14.00 to $17.00 in a report on Tuesday, December 17th.

Veris Residential Trading Up 1.3 %

Shares of NYSE VRE opened at $15.98 on Monday. The business’s 50 day moving average is $16.29 and its two-hundred day moving average is $16.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. Veris Residential, Inc. has a 1-year low of $13.84 and a 1-year high of $18.85. The stock has a market capitalization of $1.48 billion, a P/E ratio of -94.01, a PEG ratio of 2.57 and a beta of 1.27.

About Veris Residential

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.