Veris Residential, Inc. (NYSE:VRE) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,485 shares of the company’s stock after selling 1,948 shares during the period. Arizona State Retirement System’s holdings in Veris Residential were worth $329,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY increased its stake in Veris Residential by 9.2% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 7,763 shares of the company’s stock valued at $124,000 after buying an additional 651 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Veris Residential by 2.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,676 shares of the company’s stock worth $595,000 after purchasing an additional 813 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Veris Residential by 5.3% in the 2nd quarter. Inspire Investing LLC now owns 19,753 shares of the company’s stock worth $317,000 after purchasing an additional 993 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Veris Residential by 3.7% in the 1st quarter. Russell Investments Group Ltd. now owns 27,999 shares of the company’s stock worth $410,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Veris Residential by 3.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 50,691 shares of the company’s stock worth $743,000 after purchasing an additional 1,532 shares during the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Veris Residential Stock Performance

Shares of VRE opened at $14.25 on Wednesday. Veris Residential, Inc. has a one year low of $13.06 and a one year high of $18.98. The company has a 50-day moving average of $16.30 and a two-hundred day moving average of $16.72. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -17.38, a PEG ratio of 1.44 and a beta of 1.22. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.78 and a quick ratio of 0.78.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VRE shares. Evercore ISI lowered their price objective on shares of Veris Residential from $19.00 to $18.00 in a research note on Monday, October 9th. Truist Financial lifted their price objective on shares of Veris Residential from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Veris Residential has a consensus rating of “Moderate Buy” and a consensus target price of $18.60.

Insiders Place Their Bets

In other Veris Residential news, Director A. Akiva Katz sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $18.83, for a total value of $1,883,000.00. Following the completion of the transaction, the director now directly owns 5,206,537 shares in the company, valued at $98,039,091.71. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 15.00% of the company’s stock.

Veris Residential Profile

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.