LDR Capital Management LLC Sells 14,238 Shares of Veris Residential, Inc. (NYSE:VRE)

LDR Capital Management LLC cut its stake in Veris Residential, Inc. (NYSE:VRE) by 12.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,784 shares of the company’s stock after selling 14,238 shares during the period. Veris Residential accounts for 2.3% of LDR Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. LDR Capital Management LLC owned about 0.11% of Veris Residential worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 755 shares in the last quarter. Natixis Advisors LLC purchased a new stake in Veris Residential in the 3rd quarter valued at $203,000. Van ECK Associates Corp raised its position in Veris Residential by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 13,492 shares of the company’s stock valued at $235,000 after buying an additional 1,481 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Veris Residential in the 3rd quarter valued at $263,000. Finally, abrdn plc raised its position in Veris Residential by 10.5% in the 3rd quarter. abrdn plc now owns 15,671 shares of the company’s stock valued at $280,000 after buying an additional 1,495 shares during the last quarter. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Trading Down 0.3 %

Shares of Veris Residential stock opened at $15.63 on Friday. 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 firm has a market cap of $1.45 billion, a PE ratio of -91.94, a P/E/G ratio of 2.49 and a beta of 1.27. Veris Residential, Inc. has a 1 year low of $13.84 and a 1 year high of $18.85. The stock has a fifty day moving average price of $16.11 and a 200-day moving average price of $16.95.

Analysts Set New Price Targets

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

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.