OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Position in Veris Residential, Inc. (NYSE:VRE)

OVERSEA CHINESE BANKING Corp Ltd lessened its position in Veris Residential, Inc. (NYSE:VRE) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 417,918 shares of the company’s stock after selling 18,859 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned about 0.45% of Veris Residential worth $7,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Veris Residential by 0.7% in the first quarter. Vanguard Group Inc. now owns 12,439,064 shares of the company’s stock valued at $189,198,000 after acquiring an additional 88,634 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Veris Residential by 1.2% in the second quarter. Victory Capital Management Inc. now owns 1,194,049 shares of the company’s stock valued at $17,911,000 after acquiring an additional 13,943 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Veris Residential by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,843 shares of the company’s stock valued at $17,217,000 after acquiring an additional 65,180 shares in the last quarter. DigitalBridge Group Inc. purchased a new position in shares of Veris Residential in the second quarter valued at approximately $13,673,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Veris Residential by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 751,050 shares of the company’s stock valued at $11,266,000 after acquiring an additional 5,012 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Veris Residential Price Performance

VRE stock opened at $18.09 on Tuesday. The business has a fifty day moving average of $17.42 and a two-hundred day moving average of $16.16. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -106.41, a price-to-earnings-growth ratio of 5.13 and a beta of 1.26. Veris Residential, Inc. has a 52-week low of $13.27 and a 52-week high of $18.40.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Monday, September 16th. Evercore ISI increased their price target on Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th.

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.