Evercore ISI Trims Veris Residential (NYSE:VRE) Target Price to $16.00

Veris Residential (NYSE:VRE - Get Free Report) had its price objective dropped by investment analysts at Evercore ISI from $17.00 to $16.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 12.12% from the stock's previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Veris Residential from $11.00 to $13.00 and gave the company an "underweight" rating in a report on Monday. Truist Financial decreased their price target on Veris Residential from $15.00 to $14.00 and set a "hold" rating for the company in a report on Tuesday, April 9th.

Veris Residential Stock Performance

Shares of Veris Residential stock traded up $0.06 on Thursday, reaching $14.27. 2,838,876 shares of the stock were exchanged, compared to its average volume of 664,228. Veris Residential has a twelve month low of $13.06 and a twelve month high of $18.98. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -14.27, a PEG ratio of 4.61 and a beta of 1.25. The business has a 50 day moving average price of $14.98 and a two-hundred day moving average price of $15.10. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.46.

Institutional Trading of Veris Residential

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp increased its position in shares of Veris Residential by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 70,177 shares of the company's stock valued at $1,067,000 after buying an additional 897 shares in the last quarter. Ranger Global Real Estate Advisors LLC increased its position in shares of Veris Residential by 0.3% in the third quarter. Ranger Global Real Estate Advisors LLC now owns 303,382 shares of the company's stock valued at $5,006,000 after buying an additional 915 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Veris Residential by 7.4% during the first quarter. ProShare Advisors LLC now owns 15,978 shares of the company's stock worth $243,000 after purchasing an additional 1,096 shares in the last quarter. Vert Asset Management LLC increased its position in shares of Veris Residential by 4.9% during the first quarter. Vert Asset Management LLC now owns 28,852 shares of the company's stock worth $439,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Veris Residential by 1.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 91,500 shares of the company's stock worth $1,439,000 after purchasing an additional 1,700 shares in the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

Veris Residential Company Profile

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.