New York State Teachers Retirement System Trims Stock Holdings in Veris Residential, Inc. (NYSE:VRE)

New York State Teachers Retirement System reduced its stake in Veris Residential, Inc. (NYSE:VRE) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,675 shares of the company’s stock after selling 12,600 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Veris Residential worth $1,175,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Veris Residential by 35.5% during the third 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 in the last quarter. abrdn plc lifted its holdings in shares of Veris Residential by 10.5% during the third quarter. abrdn plc now owns 15,671 shares of the company’s stock valued at $280,000 after purchasing an additional 1,495 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Veris Residential by 12.3% during the third quarter. Van ECK Associates Corp now owns 13,492 shares of the company’s stock valued at $235,000 after purchasing an additional 1,481 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Veris Residential during the third quarter valued at $445,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Veris Residential by 0.5% during the third quarter. Victory Capital Management Inc. now owns 1,200,470 shares of the company’s stock valued at $21,440,000 after purchasing an additional 6,421 shares in the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

Veris Residential Stock Down 0.3 %

VRE stock opened at $15.63 on Monday. Veris Residential, Inc. has a fifty-two week low of $13.84 and a fifty-two week high of $18.85. The business’s 50-day moving average is $16.11 and its two-hundred day moving average is $16.96. 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 company has a market cap of $1.45 billion, a price-to-earnings ratio of -91.94, a P/E/G ratio of 2.50 and a beta of 1.27.

Analyst Ratings Changes

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

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.