abrdn plc Grows Stock Position in Veris Residential, Inc. (NYSE:VRE)

abrdn plc increased its holdings in Veris Residential, Inc. (NYSE:VRE) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,671 shares of the company’s stock after buying an additional 1,495 shares during the quarter. abrdn plc’s holdings in Veris Residential were worth $280,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Veris Residential by 417.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,686 shares of the company’s stock worth $41,000 after acquiring an additional 2,167 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Veris Residential in the 2nd quarter worth $48,000. Quarry LP purchased a new position in Veris Residential during the second quarter valued at $48,000. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $51,000 after purchasing an additional 755 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Veris Residential in the first quarter worth about $152,000. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Price Performance

NYSE:VRE opened at $16.85 on Wednesday. The business’s 50-day simple moving average is $17.39 and its two-hundred day simple moving average is $16.05. Veris Residential, Inc. has a 52 week low of $13.27 and a 52 week high of $18.18. The stock has a market cap of $1.57 billion, a PE ratio of -99.11, a P/E/G ratio of 4.56 and a beta of 1.26. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, September 16th.

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.