Van ECK Associates Corp Increases Holdings in Veris Residential, Inc. (NYSE:VRE)

Van ECK Associates Corp increased its position in Veris Residential, Inc. (NYSE:VRE) by 10.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,870 shares of the company’s stock after purchasing an additional 1,378 shares during the period. Van ECK Associates Corp’s holdings in Veris Residential were worth $247,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Veris Residential by 35.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock worth $51,000 after acquiring an additional 755 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Veris Residential by 0.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 100,000 shares of the company’s stock worth $1,786,000 after acquiring an additional 900 shares during the last quarter. Inspire Investing LLC increased its stake in Veris Residential by 5.0% during the fourth quarter. Inspire Investing LLC now owns 24,297 shares of the company’s stock worth $404,000 after acquiring an additional 1,149 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Veris Residential by 1.1% during the third quarter. Public Employees Retirement System of Ohio now owns 116,412 shares of the company’s stock worth $2,079,000 after acquiring an additional 1,220 shares during the last quarter. Finally, abrdn plc increased its stake in Veris Residential by 10.5% during the third quarter. abrdn plc now owns 15,671 shares of the company’s stock worth $280,000 after acquiring an additional 1,495 shares during the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VRE shares. JPMorgan Chase & Co. raised Veris Residential from an “underweight” rating to a “neutral” rating and upped their target price for the company from $14.00 to $17.00 in a research note on Tuesday, December 17th. Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $23.00 in a research note on Tuesday, November 12th.

Veris Residential Trading Down 0.3 %

Shares of Veris Residential stock opened at $15.63 on Monday. The firm has a market capitalization of $1.45 billion, a PE ratio of -91.94, a P/E/G ratio of 2.50 and a beta of 1.27. Veris Residential, Inc. has a twelve month low of $13.84 and a twelve month high of $18.85. The firm’s 50-day moving average price is $16.11 and its 200 day moving average price is $16.96. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.34.

About Veris Residential

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.