GuruFocus - On June 20, 2024, Nori Lietz, a Director at Veris Residential Inc (NYSE:VRE), purchased 10,000 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider's holdings to 39,687 shares.
Veris Residential Inc operates in the real estate sector, focusing primarily on residential properties. The insider's purchase is part of a broader trend within the company, where there have been more insider buys than sells over the past year. Specifically, there have been 2 insider buys and 1 insider sell.
Shares of Veris Residential Inc were priced at $14.31 on the day of the transaction. The company's market cap is approximately $1.343 billion.
According to the GF Value, the intrinsic value of the stock is estimated at $18.09, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.79.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted for the company's past performance and expected future business outcomes.
This recent purchase by the insider may signal a positive outlook on the company's valuation and future performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This content was originally published on Gurufocus.com
![Director Nori Lietz Acquires 10,000 Shares of Veris Residential Inc (VRE)](https://d68-invdn-com.investing.com/content/pic8b8f5114f6b0251352bb3465e4c71435.png)