MJP Associates Inc. ADV Buys Shares of 34,993 Veris Residential, Inc. $VRE

MJP Associates Inc. ADV bought a new stake in shares of Veris Residential, Inc. (NYSE:VRE) in the 3rd quarter, Holdings Channel reports. The firm bought 34,993 shares of the company’s stock, valued at approximately $532,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hantz Financial Services Inc. increased its position in Veris Residential by 720.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,132 shares of the company’s stock valued at $32,000 after buying an additional 1,872 shares in the last quarter. Covestor Ltd grew its stake in shares of Veris Residential by 29.0% in the third quarter. Covestor Ltd now owns 3,270 shares of the company’s stock worth $49,000 after acquiring an additional 736 shares during the last quarter. CWM LLC increased its holdings in shares of Veris Residential by 925.9% during the second quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after acquiring an additional 6,333 shares in the last quarter. AlphaQuest LLC raised its position in shares of Veris Residential by 49.5% in the 3rd quarter. AlphaQuest LLC now owns 8,399 shares of the company’s stock worth $128,000 after purchasing an additional 2,780 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Veris Residential by 307.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock worth $128,000 after purchasing an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 93.04% of the company’s stock.

Veris Residential Trading Up 1.1%

Shares of VRE stock opened at $16.82 on Wednesday. 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, Inc. has a 12-month low of $13.69 and a 12-month high of $17.18. The stock has a market capitalization of $1.57 billion, a P/E ratio of 25.10, a P/E/G ratio of 2.57 and a beta of 1.26. The firm’s 50 day moving average is $15.16 and its 200 day moving average is $15.00.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of Veris Residential from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Veris Residential in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Veris Residential presently has a consensus rating of “Hold” and a consensus price target of $18.67.

Veris Residential 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.