Nisa Investment Advisors LLC Sells 4,855 Shares of Veris Residential, Inc. (NYSE:VRE)

Nisa Investment Advisors LLC reduced its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 15.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,850 shares of the company’s stock after selling 4,855 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Veris Residential were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Veris Residential by 417.5% in the 1st 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Veris Residential in the second quarter valued at approximately $48,000. Quarry LP acquired a new position in shares of Veris Residential during the 2nd quarter worth approximately $48,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Veris Residential by 35.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,880 shares of the company’s stock worth $51,000 after purchasing an additional 755 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Veris Residential in the 1st quarter valued at approximately $152,000. 93.04% of the stock is owned by institutional investors.

Veris Residential Stock Performance

VRE opened at $16.85 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. Veris Residential, Inc. has a 12-month low of $13.27 and a 12-month high of $18.18. The business has a 50 day moving average of $17.39 and a 200-day moving average of $16.05. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -99.11, a PEG ratio of 4.56 and a beta of 1.26.

Analyst Ratings Changes

VRE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Veris Residential from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, September 16th. 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 research report on Wednesday, August 28th.

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.