Public Sector Pension Investment Board Has $4.82 Million Stake in Veris Residential, Inc. $VRE

Public Sector Pension Investment Board increased its position in Veris Residential, Inc. (NYSE:VRE) by 14.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 316,790 shares of the company’s stock after acquiring an additional 40,212 shares during the period. Public Sector Pension Investment Board’s holdings in Veris Residential were worth $4,815,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Veris Residential by 26.6% during the 1st quarter. Royal Bank of Canada now owns 17,263 shares of the company’s stock worth $292,000 after purchasing an additional 3,623 shares during the last quarter. AQR Capital Management LLC raised its holdings in Veris Residential by 88.8% during the first quarter. AQR Capital Management LLC now owns 54,273 shares of the company’s stock valued at $911,000 after buying an additional 25,520 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Veris Residential by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,695 shares of the company’s stock worth $790,000 after acquiring an additional 2,064 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Veris Residential by 72.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,006,694 shares of the company’s stock valued at $17,033,000 after acquiring an additional 423,482 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Veris Residential by 234.4% in the 1st quarter. Jane Street Group LLC now owns 113,848 shares of the company’s stock valued at $1,926,000 after acquiring an additional 79,802 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on VRE shares. Wall Street Zen raised Veris Residential from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.67.

Veris Residential Price Performance

Shares of NYSE:VRE opened at $16.85 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 25.15, a PEG ratio of 2.59 and a beta of 1.26. Veris Residential, Inc. has a 1-year low of $13.69 and a 1-year high of $17.18. The business’s 50 day moving average is $15.25 and its 200-day moving average is $15.02. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.13.

Veris Residential Company Profile

Veris Residential, Inc (NYSE: VRE) is a publicly traded real estate investment trust that focuses on the acquisition, development, ownership and management of high-quality, Class A multifamily residential communities. As a pure-play residential REIT, Veris Residential offers a range of apartment homes designed to appeal to both urban and suburban renters seeking modern living spaces enhanced with amenities and services.

The company’s portfolio consists of contemporary apartment buildings that feature studio, one-, two- and three-bedroom floor plans.