Nisa Investment Advisors LLC Has $482,000 Position in Veris Residential, Inc. (NYSE:VRE)

Nisa Investment Advisors LLC cut its stake in Veris Residential, Inc. (NYSE:VRE) by 15.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other hedge funds have also modified their holdings of the company. Lighthouse Investment Partners LLC bought a new stake in Veris Residential in the second quarter valued at approximately $2,175,000. Tidal Investments LLC boosted its position in shares of Veris Residential by 268.8% during the first quarter. Tidal Investments LLC now owns 50,959 shares of the company’s stock worth $775,000 after purchasing an additional 37,141 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Veris Residential by 387.4% in the 2nd quarter. Renaissance Technologies LLC now owns 84,800 shares of the company’s stock valued at $1,272,000 after buying an additional 67,400 shares during the period. Van ECK Associates Corp increased its position in shares of Veris Residential by 5.8% in the 2nd quarter. Van ECK Associates Corp now owns 12,011 shares of the company’s stock valued at $180,000 after buying an additional 663 shares in the last quarter. Finally, Nordea Investment Management AB acquired a new stake in Veris Residential during the 1st quarter worth $8,503,000. 93.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on VRE shares. JPMorgan Chase & Co. boosted their target price on Veris Residential from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, September 16th. Evercore ISI lifted their price objective on Veris Residential from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th.

Veris Residential Trading Up 2.2 %

Shares of NYSE:VRE opened at $16.85 on Wednesday. The firm 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. Veris Residential, Inc. has a 12 month low of $13.27 and a 12 month high of $18.18. The company’s fifty day simple moving average is $17.39 and its 200 day simple moving average is $16.05. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.34.

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.