Veris Residential (NYSE:VRE) Reaches New 12-Month Low at $12.06

Veris Residential, Inc. (NYSE:VREGet Rating)’s stock price hit a new 52-week low on Friday . The stock traded as low as $12.06 and last traded at $12.06, with a volume of 11921 shares traded. The stock had previously closed at $12.43.

Analysts Set New Price Targets

Separately, Truist Financial lowered their target price on Veris Residential from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, June 24th.

Veris Residential Stock Down 3.4 %

The stock has a fifty day simple moving average of $13.77 and a two-hundred day simple moving average of $14.92. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.52.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VRE. State of Alaska Department of Revenue bought a new position in shares of Veris Residential during the 2nd quarter valued at about $1,356,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Veris Residential in the 2nd quarter valued at approximately $143,000. Contravisory Investment Management Inc. bought a new position in Veris Residential during the 2nd quarter valued at approximately $142,000. Ridgewood Investments LLC bought a new stake in shares of Veris Residential in the 2nd quarter worth $213,000. Finally, Strs Ohio bought a new stake in shares of Veris Residential in the 2nd quarter worth $1,488,000. Hedge funds and other institutional investors own 91.50% of the company’s stock.

About Veris Residential

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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.

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