Veris Residential (VRE)

• Market cap: $1.52B
• 1 day: 0.18%
• 5 days: -5.96%
• 1 month: -10.08%
• 3 months: -7.60%
• 6 months: 15.00%
• Year to date: 3.99%
• 1 year: 5.94%
• 5 years: -27.68%
• 10 years: -13.40%
• Sector: Financials
• Industry: Real Estate Investment Trusts

About: Veris Residential Inc is a fully-integrated, self-administered and self-managed real estate investment trust (REIT). The company owns and operates a real estate portfolio comprised predominantly of multifamily rental properties located mainly in the Northeast and Class A office properties. The company performs substantially all real estate management, leasing, acquisition and development on an in-house basis. The properties are in three states in the Northeast, plus the District of Columbia. The company operates in two industry segments multifamily real estate & services and commercial & other real estate. The majority of revenue is from Multifamily real estate services.

Employees: 197

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

102% more call options, than puts

Call options by funds: $14.7M | Put options by funds: $7.28M

100% more funds holding in top 10

Funds holding in top 10: 2 [Q2] → 4 (+2) [Q3]

14% more capital invested

Capital invested by funds: $1.31B [Q2] → $1.49B (+$187M) [Q3]

1% more funds holding

Funds holding: 181 [Q2] → 183 (+2) [Q3]

9% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 23

3.26% less ownership

Funds ownership: 94.01% [Q2] → 90.75% (-3.26%) [Q3]

17% less repeat investments, than reductions

Existing positions increased: 60 | Existing positions reduced: 72

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $17 4% upside
• Avg. target: $20 22% upside
• High target: $23 40% upside

2 analyst ratings

• positive: 1 50%
• neutral: 1 50%
• negative: 0 0%

JP Morgan Anthony Paolone 39% 1-year accuracy 7 / 18 met price target	4% upside $17	Neutral Upgraded	17 Dec 2024
B of A Securities Jeffrey Spector 50% 1-year accuracy 2 / 4 met price target	40% upside $23	Buy Upgraded	12 Nov 2024