Veris Residential, Inc. (NYSE:VRE) Stock Position Raised by Swiss National Bank

Swiss National Bank lifted its stake in shares of Veris Residential, Inc. (NYSE:VRE – Get Rating) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,000 shares of the company’s stock after acquiring an additional 3,500 shares during the quarter. Swiss National Bank owned 0.21% of Veris Residential worth $2,979,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Veris Residential by 2.5% in the third quarter. Vanguard Group Inc. now owns 13,026,788 shares of the company’s stock valued at $148,114,000 after purchasing an additional 312,498 shares in the last quarter. State Street Corp purchased a new stake in shares of Veris Residential in the second quarter valued at $70,860,000. Centersquare Investment Management LLC lifted its holdings in shares of Veris Residential by 13.7% in the third quarter. Centersquare Investment Management LLC now owns 4,036,969 shares of the company’s stock valued at $45,901,000 after purchasing an additional 484,934 shares in the last quarter. Nomura Holdings Inc. lifted its holdings in shares of Veris Residential by 3.1% in the third quarter. Nomura Holdings Inc. now owns 1,309,469 shares of the company’s stock valued at $14,898,000 after purchasing an additional 38,814 shares in the last quarter. Finally, Northern Trust Corp purchased a new stake in shares of Veris Residential in the second quarter valued at $13,575,000. 95.05% of the stock is owned by institutional investors.

Veris Residential Trading Down 0.7 %

Veris Residential stock opened at $16.42 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of -21.32, a PEG ratio of 4.40 and a beta of 1.18. Veris Residential, Inc. has a one year low of $10.22 and a one year high of $17.69. The company’s fifty day moving average price is $15.41 and its two-hundred day moving average price is $15.85.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VRE. Deutsche Bank Aktiengesellschaft upgraded Veris Residential from a “hold” rating to a “buy” rating and increased their target price for the company from $15.00 to $19.00 in a report on Tuesday, May 16th. Truist Financial cut their price objective on Veris Residential from $16.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, March 22nd. Finally, TheStreet lowered Veris Residential from a “c” rating to a “d+” rating in a report on Friday, April 28th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.20.

Veris Residential Profile

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Veris Residential, Inc is a real estate investment trust, which owns and operates a real estate portfolio comprised predominantly of Class A office and flex properties located primarily in the Northeast. It operates through the following segments: Commercial and Other Real Estate, and Multi-Family Real Estate and Services.