State of New Jersey Common Pension Fund D Purchases 17,101 Shares of Veris Residential, Inc. (NYSE:VRE)

State of New Jersey Common Pension Fund D boosted its stake in Veris Residential, Inc. (NYSE:VRE – Get Rating) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 174,422 shares of the company’s stock after acquiring an additional 17,101 shares during the period. State of New Jersey Common Pension Fund D owned 0.19% of Veris Residential worth $1,983,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. State Street Corp bought a new stake in Veris Residential in the second quarter valued at $70,860,000. FMR LLC bought a new stake in Veris Residential in the second quarter valued at $64,576,000. Victory Capital Management Inc. bought a new stake in Veris Residential in the second quarter valued at $24,654,000. JPMorgan Chase & Co. bought a new stake in Veris Residential in the second quarter valued at $20,677,000. Finally, Rush Island Management LP bought a new stake in Veris Residential in the second quarter valued at $18,189,000. Institutional investors own 95.05% of the company’s stock.

Veris Residential Price Performance

VRE opened at $15.72 on Friday. The stock has a 50-day moving average price of $15.94 and a 200-day moving average price of $14.33. 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 firm has a market cap of $1.43 billion, a PE ratio of -11.97 and a beta of 1.17. Veris Residential, Inc. has a 1 year low of $10.22 and a 1 year high of $18.01.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VRE shares. BTIG Research dropped their target price on shares of Veris Residential from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, December 13th. Bank of America upgraded shares of Veris Residential from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $16.00 to $18.00 in a report on Monday, November 14th. Evercore ISI dropped their target price on shares of Veris Residential to $14.00 in a report on Thursday, October 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Veris Residential from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, October 4th.

Veris Residential Company Profile

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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.