Monitoring Veris Residential Inc. (VRE) after recent insider movements


Veris Residential Inc.’s recent filing unveils that its Director KATZ A. AKIVA unloaded Company’s shares for reported $0.2 million on Aug 31. In the deal valued at $18.75 per share,10,607 shares were sold. As a result of this transaction, KATZ A. AKIVA now holds 5,195,930 shares worth roughly $ 95.4 million.

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Then, KATZ A. AKIVA sold 100,000 shares, generating $1,883,000 in total proceeds. Upon selling the shares at $18.83, the Director now owns 5,206,537 shares.

Before that, KATZ A. AKIVA bought 75,364 shares. Veris Residential Inc. shares valued at $913,178 were divested by the Director at a price of $12.12 per share. As a result of the transaction, KATZ A. AKIVA now holds 5,306,537 shares, worth roughly $97.43 million.

Evercore ISI upgraded its Veris Residential Inc. [VRE] rating to an Outperform from a an In-line in a research note published on Friday, July 27, 2023; the price target was increased to $19 from $18. PT values the company’s stock at a premium of 3.37 to its Friday closing price.

Price Performance Review of VRE

On Friday, Veris Residential Inc. [NYSE:VRE] saw its stock fall -1.34% to $18.36. On the same session, the stock had its day’s lowest price of $18.28, but rose to a high of $18.70. Over the last five days, the stock has lost -0.38%. Veris Residential Inc. shares have risen nearly 15.25% since the year began. Nevertheless, the stocks have risen 36.61% over the past one year. While a 52-week high of $18.98 was reached on 08/30/23, a 52-week low of $10.22 was recorded on 03/24/23. SMA at 50 days reached $17.53, while 200 days put it at $16.37. A total of 0.5 million shares were traded, compared to the trading of 0.53 million shares in the previous session.

Levels Of Support And Resistance For VRE Stock

The 24-hour chart illustrates a support level at 18.19, which if violated will result in even more drops to 18.03. On the upside, there is a resistance level at 18.61. A further resistance level may holdings at 18.87. The Relative Strength Index (RSI) on the 14-day chart is 54.66, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.20%. Stochastics %K at 68.30% indicates the stock is a holding.

How much short interest is there in Veris Residential Inc.?

A steep rise in short interest was recorded in Veris Residential Inc. stocks on Aug 14, 2023, dropping by -0.46 million shares to a total of 1.35 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.81 million shares. There was a decline of -34.07%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.70% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.27.

Veris Residential Inc. [VRE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 12,893,338 shares, or roughly 14.01% of the outstanding VRE shares. In other words, the investor’s shares have fallen by -376,934 from its previous 13-F filing of 13270272.0. Additionally, The Vanguard Group, Inc. decreased -9.43% of its stake after which the total value it holdings stand at $228,593,549. Over the last quarter, Wellington Management Co. LLP purchased 1,708,791 shares of Veris Residential Inc., while Bow Street LLC bought -21,445 shares. At present, SSgA Funds Management, Inc. is holding 5,044,456 shares valued at $94.23 million. H/2 Credit Manager LP owned 4,697,314 shares of the company at the time of its most recent 13F filing, worth $87.75 million.

According to FactSet, Veris Residential Inc.’s share price will average $19.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.1 percent from its previous closing price of $18.61. Analysts expect Veris Residential Inc. stock to reach the higher price of $26.00, while the lowest price estimate is $16.00. However, 5 analysts have rated VRE stock as an Overweight in their predictions for 2023.


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