Pictet Asset Management SA acquired a new stake in shares of Veris Residential, Inc. (NYSE:VRE – Get Rating) during the second quarter, HoldingsChannel reports. The firm acquired 31,234 shares of the company’s stock, valued at approximately $414,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Veris Residential during the second quarter valued at approximately $74,000. KBC Group NV bought a new stake in shares of Veris Residential during the second quarter valued at approximately $87,000. Van ECK Associates Corp bought a new stake in shares of Veris Residential during the second quarter valued at approximately $103,000. Contravisory Investment Management Inc. bought a new stake in shares of Veris Residential during the second quarter valued at approximately $142,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Veris Residential during the second quarter valued at approximately $143,000. 91.50% of the stock is currently owned by institutional investors.
Veris Residential Price Performance
Shares of VRE stock opened at $15.54 on Thursday. The stock’s fifty day simple moving average is $13.47 and its 200 day simple moving average is $13.92. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -11.95 and a beta of 1.20. Veris Residential, Inc. has a one year low of $10.22 and a one year high of $19.60.
Insider Activity at Veris Residential
Analysts Set New Price Targets
A number of analysts have recently issued reports on VRE shares. Deutsche Bank Aktiengesellschaft lowered 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 boosted their price target for the company from $16.00 to $18.00 in a research note on Monday, November 14th. Finally, Evercore ISI decreased their price target on Veris Residential to $14.00 in a research note on Thursday, October 13th.
Veris Residential Company 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.
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