Veris Residential, Inc. (NYSE:VRE – Get Rating) was the recipient of unusually large options trading activity on Thursday. Stock traders bought 6,012 put options on the company. This is an increase of 783% compared to the typical volume of 681 put options.
Institutional Investors Weigh In On Veris Residential
A number of institutional investors have recently modified their holdings of VRE. Quadrant Capital Group LLC boosted its position in shares of Veris Residential by 97.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,256 shares of the company’s stock valued at $36,000 after acquiring an additional 1,113 shares during the period. Captrust Financial Advisors acquired a new position in Veris Residential in the second quarter valued at about $61,000. Tower Research Capital LLC TRC raised its stake in Veris Residential by 121.7% in the third quarter. Tower Research Capital LLC TRC now owns 6,598 shares of the company’s stock valued at $75,000 after purchasing an additional 3,622 shares in the last quarter. M&T Bank Corp acquired a new position in Veris Residential in the third quarter valued at about $115,000. Finally, Metropolitan Life Insurance Co NY raised its stake in Veris Residential by 9.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 7,763 shares of the company’s stock valued at $124,000 after purchasing an additional 651 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. TheStreet raised shares of Veris Residential from a “d+” rating to a “c” rating in a research report on Friday, February 24th. Truist Financial reduced their price objective on shares of Veris Residential from $16.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, March 22nd. 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 report on Tuesday, December 13th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.00.
Veris Residential Trading Up 11.3 %
Veris Residential Company Profile
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.
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