On April 6, 2023 at 09:44:07 ET an unusually large
$52.64K block of Put contracts in Veris Residential
(VRE) was sold,
with a strike price of $12.50 / share, expiring in 43 days (on May 19, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 2.55 sigmas above the mean, placing it in the 99.97 percentile of all recent large trades made in VRE options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 24.18% Upside
As of April 6, 2023,
the average one-year price target for Veris Residential is $17.51.
The forecasts range from a low of $13.13 to a high of $23.10.
The average price target represents an increase of 24.18% from its latest reported closing price of $14.10.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Veris Residential
is $359MM, an increase of 0.70%.
The projected annual non-GAAP EPS
is -$0.73.
What is the Fund Sentiment?
There are 392 funds or institutions reporting positions in Veris Residential.
This is an increase
of
9
owner(s) or 2.35% in the last quarter.
Average portfolio weight of all funds dedicated to VRE is 0.32%,
an increase
of 30.12%.
Total shares owned by institutions decreased
in the last three months by 0.39% to 87,530K shares.
The put/call ratio of VRE is 1.16, indicating a
bearish
outlook.
What are Large Shareholders Doing?
Madison International Realty Holdings
holds 6,108K shares
representing 6.70% ownership of the company.
No change in the last quarter.
IJR – iShares Core S&P Small-Cap ETF
holds 5,873K shares
representing 6.45% ownership of the company.
In it’s prior filing, the firm reported owning 5,806K shares, representing
an increase
of 1.13%.
The firm
increased
its portfolio allocation in VRE by 28.91% over the last quarter.
H
holds 4,697K shares
representing 5.16% ownership of the company.
No change in the last quarter.
VGSIX – Vanguard Real Estate Index Fund Investor Shares
holds 3,454K shares
representing 3.79% ownership of the company.
In it’s prior filing, the firm reported owning 3,509K shares, representing
a decrease
of 1.61%.
The firm
decreased
its portfolio allocation in VRE by 1.48% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 2,687K shares
representing 2.95% ownership of the company.
In it’s prior filing, the firm reported owning 2,410K shares, representing
an increase
of 10.29%.
The firm
increased
its portfolio allocation in VRE by 44.23% over the last quarter.
Veris Residential Background Information
(This description is provided by the company.)
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. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
