Victory Capital Management Inc. lowered its position in Veris Residential, Inc. (NYSE:VRE – Get Rating) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,849,114 shares of the company's stock after selling 12,946 shares during the period. Victory Capital Management Inc. owned about 2.03% of Veris Residential worth $21,025,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Great West Life Assurance Co. Can boosted its stake in Veris Residential by 8.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 155,518 shares of the company's stock worth $1,767,000 after purchasing an additional 12,043 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Veris Residential by 10.6% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 37,680 shares of the company's stock worth $428,000 after purchasing an additional 3,600 shares during the period. SG Americas Securities LLC boosted its stake in Veris Residential by 10.1% in the 3rd quarter. SG Americas Securities LLC now owns 35,828 shares of the company's stock worth $407,000 after purchasing an additional 3,285 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Veris Residential by 10.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 174,422 shares of the company's stock worth $1,983,000 after purchasing an additional 17,101 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in Veris Residential in the 3rd quarter worth $431,000. Institutional investors own 95.05% of the company's stock.
Get Veris Residential alerts:Veris Residential Trading Up 1.2 %
Veris Residential stock opened at $16.19 on Wednesday. The firm has a 50-day moving average of $15.99 and a 200-day moving average of $14.39. Veris Residential, Inc. has a one year low of $10.22 and a one year high of $17.99. 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 company has a market cap of $1.47 billion, a price-to-earnings ratio of -12.45 and a beta of 1.17.
Wall Street Analyst Weigh In
VRE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Veris Residential from $15.00 to $13.00 and set a "hold" rating for the company in a research note on Tuesday, October 4th. Evercore ISI reduced their target price on shares of Veris Residential to $14.00 in a research note on Thursday, October 13th. Bank of America upgraded shares of Veris Residential from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $16.00 to $18.00 in a research note on Monday, November 14th. Finally, BTIG Research reduced their price objective on shares of Veris Residential from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, December 13th.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.
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