Centerpoint Advisors LLC Makes New Investment in Veris Residential, Inc. $VRE

Centerpoint Advisors LLC bought a new stake in Veris Residential, Inc. (NYSE:VRE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 73,047 shares of the company’s stock, valued at approximately $1,110,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in VRE. Hantz Financial Services Inc. increased its stake in shares of Veris Residential by 720.0% in the third 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 during the period. Covestor Ltd grew its holdings in Veris Residential by 29.0% during the 3rd 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 position in Veris Residential by 925.9% in the 2nd quarter. CWM LLC now owns 7,017 shares of the company’s stock valued at $104,000 after acquiring an additional 6,333 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Veris Residential by 307.0% during the second quarter. Tower Research Capital LLC TRC now owns 8,617 shares of the company’s stock valued at $128,000 after acquiring an additional 6,500 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Veris Residential by 49.5% during the third 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 period. 93.04% of the stock is currently owned by institutional investors.

Veris Residential Price Performance

VRE stock opened at $16.63 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.13. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 2.58 and a beta of 1.26. The company’s fifty day simple moving average is $14.91 and its 200 day simple moving average is $14.91. Veris Residential, Inc. has a 12-month low of $13.69 and a 12-month high of $17.18.

Analyst Upgrades and Downgrades

VRE has been the subject of a number of recent research reports. Wall Street Zen upgraded Veris Residential from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Veris Residential in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Veris Residential presently has a consensus rating of “Hold” and an average 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.