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Veris Residential Inc (VRE) receives an Underweight rating from JP Morgan

Veris Residential Inc’s recent filing unveils that its CHIEF EXECUTIVE OFFICER Nia Mahbod acquired Company’s shares for reported $0.5 million on Jun 20 ’24. In the deal valued at $14.32 per share,35,000 shares were bought. As a result of this transaction, Nia Mahbod now holds 380,869 shares worth roughly $5.63 million.

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Then, Lietz Nori Gerardo bought 10,000 shares, generating $143,100 in total proceeds. Upon buying the shares at $14.31, the Director now owns 39,687 shares.

Before that, KATZ A. AKIVA sold 10,607 shares. Veris Residential Inc shares valued at $198,881 were divested by the Director at a price of $18.75 per share. As a result of the transaction, KATZ A. AKIVA now holds 5,195,930 shares, worth roughly $76.85 million.

A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in late July from “an In-line” to “an Outperform”. Deutsche Bank also remained covering VRE and has increased its forecast on May 16, 2023 with a “Buy” recommendation from previously “Hold” rating. BofA Securities revised its rating on November 14, 2022. It rated VRE as “a Neutral” which previously was an “an Underperform”.

Price Performance Review of VRE

On Friday, Veris Residential Inc [NYSE:VRE] saw its stock fall -1.27% to $14.79. Over the last five days, the stock has lost -0.34%. Veris Residential Inc shares have fallen nearly -5.98% since the year began. Nevertheless, the stocks have fallen -9.10% over the past one year. While a 52-week high of $18.98 was reached on 01/23/24, a 52-week low of $13.06 was recorded on 06/20/24. SMA at 50 days reached $15.06, while 200 days put it at $15.07. A total of 0.51 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For VRE Stock

The 24-hour chart illustrates a support level at 14.67, which if violated will result in even more drops to 14.56. On the upside, there is a resistance level at 14.96. A further resistance level may holdings at 15.13. The Relative Strength Index (RSI) on the 14-day chart is 47.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 31.65%. Stochastics%K at 77.46% indicates the stock is a holding.

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