Veris Residential, Inc. $VRE Shares Purchased by APG Asset Management US Inc.

APG Asset Management US Inc. raised its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 107.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 696,155 shares of the company’s stock after acquiring an additional 360,031 shares during the quarter. APG Asset Management US Inc. owned approximately 0.75% of Veris Residential worth $10,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of VRE. Covestor Ltd grew its position in shares of Veris Residential by 29.0% in the third quarter. Covestor Ltd now owns 3,270 shares of the company’s stock valued at $49,000 after purchasing an additional 736 shares during the last quarter. Amalgamated Bank lifted its stake in Veris Residential by 3.6% in the 3rd quarter. Amalgamated Bank now owns 23,892 shares of the company’s stock valued at $363,000 after buying an additional 827 shares in the last quarter. Intech Investment Management LLC lifted its stake in Veris Residential by 2.8% in the 3rd quarter. Intech Investment Management LLC now owns 33,241 shares of the company’s stock valued at $505,000 after buying an additional 905 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Veris Residential by 1.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 49,743 shares of the company’s stock valued at $756,000 after buying an additional 910 shares during the last quarter. Finally, Vert Asset Management LLC increased its position in Veris Residential by 2.9% during the third quarter. Vert Asset Management LLC now owns 37,318 shares of the company’s stock worth $567,000 after buying an additional 1,062 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VRE. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a report on Monday, December 29th. Wall Street Zen cut Veris Residential from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $18.67.

Veris Residential Trading Up 0.1%

NYSE VRE opened at $18.86 on Friday. Veris Residential, Inc. has a 12 month low of $13.69 and a 12 month high of $18.89. The company has a 50-day moving average of $15.70 and a 200-day moving average of $15.22. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.68 and a quick ratio of 0.53. The company has a market cap of $1.76 billion, a P/E ratio of 23.57, a P/E/G ratio of 2.80 and a beta of 1.26.

Veris Residential (NYSE:VRE) last released its earnings results on Monday, February 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Veris Residential had a net margin of 26.08% and a return on equity of 5.73%. The business had revenue of $71.31 million for the quarter, compared to analysts’ expectations of $70.85 million. As a group, equities analysts predict that Veris Residential, Inc. will post 0.61 earnings per share for the current year.

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.