Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Stock Position in Veris Residential, Inc. (NYSE:VRE)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Veris Residential, Inc. (NYSE:VREGet Rating) by 10.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 37,680 shares of the company’s stock after buying an additional 3,600 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Veris Residential were worth $428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of VRE. Captrust Financial Advisors purchased a new stake in shares of Veris Residential in the 2nd quarter valued at $61,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Veris Residential in the 2nd quarter valued at $74,000. KBC Group NV purchased a new stake in shares of Veris Residential in the 2nd quarter valued at $87,000. Van ECK Associates Corp purchased a new stake in shares of Veris Residential in the 2nd quarter valued at $103,000. Finally, UBS Group AG purchased a new stake in Veris Residential during the 2nd quarter worth about $132,000. Hedge funds and other institutional investors own 95.05% of the company’s stock.

Wall Street Analysts Forecast Growth

VRE has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on Veris Residential from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, October 4th. Bank of America upgraded Veris Residential from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $16.00 to $18.00 in a report on Monday, November 14th. Evercore ISI cut their price target on Veris Residential to $14.00 in a report on Thursday, October 13th. Finally, BTIG Research cut their price target on Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, December 13th.

Veris Residential Trading Up 1.5 %

NYSE:VRE opened at $15.95 on Monday. The stock has a 50-day simple moving average of $15.97 and a 200-day simple moving average of $14.36. The stock has a market cap of $1.45 billion, a P/E ratio of -12.27 and a beta of 1.17. Veris Residential, Inc. has a 1 year low of $10.22 and a 1 year high of $17.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.40 and a current ratio of 1.40.

About Veris Residential

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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.

See Also

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

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