Insider Trading Report: Veris Residential Inc (VRE)

Akiva Katz, a director at Veris Residential Inc (VRE), recently bought 376,101 shares. The buy increased the director’s stake by 7.6 percent, and came to a total cost of just over $4.36 million.

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  • The director previously bought 725,000 shares last week as well, at a total cost of over $8.2 million. And the company’s CEO bought 86,530 shares last week, paying out just under $1 million to do so. Insiders have only been buyers over the past three years.

    Overall, insiders own 1.3 percent of the company.

    Shares of the apartment REIT are down 34 percent in the past year. Revenue has risen by just 3 percent, well under the increase in inflation over the past year. And the REIT is not yet profitable, so there’s also no dividend payout at this time.

    Action to take: The stock is still in a long-term downtrend, with a few periods of spikes higher overall. It’s in the middle of one such spike now, so it may resume its downtrend soon. Look for a chance to buy closer to the 52-week low of $10.22

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  • For traders, the January 2023 $10 puts, last going for about $0.55, offer the chance for a high-double-digit return in the coming months on another downtrend in shares. Traders should look for a quick profit on the trade, given the current volatility in stocks.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.