Veris Residential (NYSE:VRE) Hits New 12-Month High – Here’s What Happened

Veris Residential, Inc. (NYSE:VRE) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $18.29 and last traded at $18.25, with a volume of 41254 shares trading hands. The stock had previously closed at $17.83.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on VRE shares. Evercore ISI lifted their price objective on shares of 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. boosted their price target on Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, September 16th.

Veris Residential Trading Up 1.5 %

The company has a debt-to-equity ratio of 1.34, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50-day moving average price is $17.41 and its 200-day moving average price is $16.14.

Hedge Funds Weigh In On Veris Residential

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in Veris Residential by 417.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company’s stock valued at $41,000 after buying an additional 2,167 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $51,000 after acquiring an additional 755 shares in the last quarter. Quarry LP acquired a new position in shares of Veris Residential during the second quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veris Residential in the 2nd quarter valued at approximately $48,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Veris Residential in the 1st quarter worth approximately $152,000. 93.04% of the stock is owned by hedge funds and other institutional investors.

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.