Barclays PLC Buys 40,941 Shares of Veris Residential, Inc. (NYSE:VRE)

Barclays PLC lifted its stake in Veris Residential, Inc. (NYSE:VRE) by 29.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 180,332 shares of the company’s stock after acquiring an additional 40,941 shares during the period. Barclays PLC’s holdings in Veris Residential were worth $2,894,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in VRE. Envestnet Asset Management Inc. bought a new position in Veris Residential during the second quarter worth about $270,000. UBS Group AG bought a new position in Veris Residential during the second quarter worth about $132,000. BNP Paribas Arbitrage SA bought a new position in Veris Residential during the second quarter worth about $350,000. Credit Suisse AG bought a new position in Veris Residential during the second quarter worth about $1,236,000. Finally, Northern Trust Corp bought a new position in Veris Residential during the second quarter worth about $13,575,000. Institutional investors own 86.94% of the company’s stock.

Veris Residential Stock Performance

NYSE:VRE opened at $13.95 on Monday. Veris Residential, Inc. has a 1 year low of $13.06 and a 1 year high of $18.98. The firm has a 50 day moving average of $16.03 and a 200-day moving average of $16.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $1.29 billion, a P/E ratio of -17.01, a price-to-earnings-growth ratio of 4.25 and a beta of 1.22.

Wall Street Analyst Weigh In

VRE has been the subject of a number of analyst reports. Evercore ISI cut their price target on shares of Veris Residential from $19.00 to $18.00 in a research note on Monday, October 9th. Truist Financial lifted their target price on shares of Veris Residential from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

Insider Activity

In related news, Director A. Akiva Katz sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 5,206,537 shares of the company’s stock, valued at $98,039,091.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.00% of the stock is currently owned by corporate insiders.

Veris Residential Company 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.