Allianz Asset Management GmbH Increases Stock Holdings in Veris Residential, Inc. $VRE

Allianz Asset Management GmbH lifted its stake in shares of Veris Residential, Inc. (NYSE:VRE) by 65.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,278 shares of the company’s stock after buying an additional 30,146 shares during the quarter. Allianz Asset Management GmbH owned about 0.08% of Veris Residential worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. raised its holdings in Veris Residential by 138.7% in the second quarter. Balyasny Asset Management L.P. now owns 1,068,102 shares of the company’s stock worth $15,904,000 after purchasing an additional 620,708 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Veris Residential by 9.3% in the 2nd quarter. Prudential Financial Inc. now owns 4,978,947 shares of the company’s stock worth $74,137,000 after buying an additional 423,683 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Veris Residential by 72.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock worth $17,033,000 after buying an additional 423,482 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Veris Residential by 62.7% in the 2nd quarter. Qube Research & Technologies Ltd now owns 991,419 shares of the company’s stock worth $14,762,000 after acquiring an additional 382,040 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Veris Residential by 54.8% during the 2nd quarter. Legal & General Group Plc now owns 837,050 shares of the company’s stock valued at $12,464,000 after acquiring an additional 296,265 shares during the period. 93.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

VRE has been the subject of several recent research reports. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Veris Residential in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.67.

Veris Residential Stock Performance

Shares of VRE opened at $16.64 on Friday. The business has a 50-day simple moving average of $15.06 and a two-hundred day simple moving average of $14.95. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. Veris Residential, Inc. has a 52 week low of $13.69 and a 52 week high of $17.18. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 2.48 and a beta of 1.26.

Veris Residential Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.