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

LDR Capital Management LLC lessened its holdings in shares of Veris Residential, Inc. (NYSE:VRE) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,784 shares of the company’s stock after selling 14,238 shares during the quarter. Veris Residential comprises 2.3% of LDR Capital Management LLC’s investment portfolio, making the stock its 20th largest position. LDR Capital Management LLC’s holdings in Veris Residential were worth $1,676,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position 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 valued at $51,000 after acquiring an additional 755 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of Veris Residential during the 3rd quarter valued at about $203,000. Van ECK Associates Corp raised its holdings in shares of Veris Residential by 12.3% during 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 in the last quarter. Point72 Asset Management L.P. purchased a new position in Veris Residential in the 3rd quarter worth approximately $263,000. Finally, abrdn plc increased its stake in Veris Residential by 10.5% in the 3rd quarter. abrdn plc now owns 15,671 shares of the company’s stock worth $280,000 after purchasing an additional 1,495 shares during the period. Institutional investors own 93.04% of the company’s stock.

Veris Residential Price Performance

VRE opened at $15.63 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.73 and a current ratio of 0.73. Veris Residential, Inc. has a 52-week low of $13.84 and a 52-week high of $18.85. The stock has a market capitalization of $1.45 billion, a PE ratio of -91.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.27. The stock’s 50 day moving average price is $16.11 and its 200-day moving average price is $16.95.

Analyst Ratings Changes

A number of equities analysts have commented on VRE shares. JPMorgan Chase & Co. raised Veris Residential from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $17.00 in a research note on Tuesday, December 17th. Bank of America raised Veris Residential from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $23.00 in a research note 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.