Veris Residential, Inc. (NYSE:VRE) Shares Sold by abrdn plc

Posted by Defense World Staff on May 27th, 2023

abrdn plc lessened its holdings in shares of Veris Residential, Inc. (NYSE:VRE – Get Rating) by 20.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,367 shares of the company’s stock after selling 4,047 shares during the quarter. abrdn plc’s holdings in Veris Residential were worth $245,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Veris Residential by 2.5% during the third quarter. Vanguard Group Inc. now owns 13,026,788 shares of the company’s stock worth $148,114,000 after purchasing an additional 312,498 shares in the last quarter. State Street Corp acquired a new stake in shares of Veris Residential during the second quarter worth about $70,860,000. Centersquare Investment Management LLC lifted its position in shares of Veris Residential by 13.7% during the third quarter. Centersquare Investment Management LLC now owns 4,036,969 shares of the company’s stock worth $45,901,000 after purchasing an additional 484,934 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of Veris Residential by 3.1% during the third quarter. Nomura Holdings Inc. now owns 1,309,469 shares of the company’s stock worth $14,898,000 after purchasing an additional 38,814 shares in the last quarter. Finally, Northern Trust Corp acquired a new stake in shares of Veris Residential during the second quarter worth about $13,575,000. Institutional investors and hedge funds own 95.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Veris Residential Stock Performance

Shares of Veris Residential stock opened at $16.06 on Friday. The firm has a market capitalization of $1.47 billion, a P/E ratio of -20.86, a P/E/G ratio of 4.30 and a beta of 1.18. Veris Residential, Inc. has a 52 week low of $10.22 and a 52 week high of $17.69. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.32. The firm’s 50 day moving average is $15.51 and its two-hundred day moving average is $15.87.

Veris Residential Profile

(Get Rating)

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.

Veris Residential, Inc. (NYSE:VRE) Shares Sold by abrdn plc

Wall Street Analysts Forecast Growth

Veris Residential Stock Performance

Veris Residential Profile

Further Reading

You might be interested in: