Texas Permanent School Fund Buys Shares of 57,900 Veris Residential, Inc. (NYSE:VRE)

Texas Permanent School Fund bought a new stake in Veris Residential, Inc. (NYSE:VREGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 57,900 shares of the company’s stock, valued at approximately $767,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in Veris Residential in the second quarter valued at approximately $74,000. KBC Group NV purchased a new stake in shares of Veris Residential during the second quarter worth $87,000. Van ECK Associates Corp purchased a new stake in shares of Veris Residential during the second quarter worth $103,000. Contravisory Investment Management Inc. purchased a new stake in shares of Veris Residential during the second quarter worth $142,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Veris Residential during the second quarter worth $143,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.

Veris Residential Stock Performance

NYSE:VRE opened at $14.79 on Monday. The firm has a market capitalization of $1.35 billion, a PE ratio of -11.38, a price-to-earnings-growth ratio of 22.24 and a beta of 1.20. The business’s fifty day moving average price is $13.42 and its 200 day moving average price is $13.91. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.40. Veris Residential, Inc. has a 12 month low of $10.22 and a 12 month high of $19.60.

Insider Activity at Veris Residential

In other Veris Residential news, Director A. Akiva Katz bought 75,364 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The shares were purchased at an average price of $12.12 per share, with a total value of $913,411.68. Following the completion of the acquisition, the director now directly owns 5,306,537 shares of the company’s stock, valued at approximately $64,315,228.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Veris Residential news, Director A. Akiva Katz bought 75,364 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The shares were purchased at an average price of $12.12 per share, with a total value of $913,411.68. Following the completion of the acquisition, the director now directly owns 5,306,537 shares of the company’s stock, valued at approximately $64,315,228.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mahbod Nia bought 79,580 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was acquired at an average cost of $11.52 per share, for a total transaction of $916,761.60. Following the acquisition, the chief executive officer now directly owns 106,739 shares of the company’s stock, valued at $1,229,633.28. The disclosure for this purchase can be found here. Insiders have acquired 630,791 shares of company stock valued at $7,231,749 over the last quarter. 7.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VRE has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Veris Residential from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, October 4th. Bank of America raised Veris Residential from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $18.00 in a research report on Monday, November 14th. Finally, Evercore ISI cut their price objective on Veris Residential to $14.00 in a research report on Thursday, October 13th.

Veris Residential Company Profile

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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.

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Institutional Ownership by Quarter for Veris Residential (NYSE:VRE)

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