Veris Residential (NYSE:VRE) Upgraded at Bank of America

by · The Markets Daily

Bank of America upgraded shares of Veris Residential (NYSE:VRE – Free Report) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat Ratings reports. Bank of America currently has $23.00 price objective on the stock, up from their prior price objective of $20.00.

Several other equities research analysts have also issued reports on VRE. Evercore ISI lifted their price target on Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, September 16th.

View Our Latest Analysis on Veris Residential

Veris Residential Stock Down 1.6 %

Veris Residential stock opened at $18.28 on Tuesday. The firm’s 50 day moving average price is $17.46 and its two-hundred day moving average price is $16.21. The firm has a market cap of $1.70 billion, a PE ratio of -109.29, a P/E/G ratio of 5.17 and a beta of 1.26. Veris Residential has a twelve month low of $13.28 and a twelve month high of $18.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73.

Institutional Trading of Veris Residential

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Veris Residential by 417.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company’s stock valued at $41,000 after acquiring an additional 2,167 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Veris Residential during the 2nd quarter valued at approximately $48,000. Quarry LP acquired a new stake in Veris Residential in the 2nd quarter valued at approximately $48,000. Mirae Asset Global Investments Co. Ltd. increased its position in Veris Residential by 35.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock worth $51,000 after buying an additional 755 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Veris Residential during the first quarter worth approximately $152,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Veris Residential Company Profile

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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.

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