Argosy-Lionbridge Management sold 372,132 shares of Veris Residential in the third quarter, reducing its position by $5.5 million. The updated stake is 265,413 shares valued at $4 million. The Veris Residential stake represents 2.7% of Argosy-Lionbridge’s reportable AUM. Top holdings include REXR, AIV, ELME, FR, and LEN. Shares of Veris Residential are priced at $14.18.

Veris Residential owns, operates, acquires, and develops Class A multifamily residential properties with a focus on sustainability. The company serves residents seeking sustainability-conscious lifestyle needs in urban and suburban markets. Veris Residential is a real estate investment trust specializing in Class A multifamily properties, emphasizing sustainability and positive community impact.

Veris Residential delivered solid third-quarter numbers, with net income swinging to $0.80 per diluted share. The company closed or contracted on $542 million of non-strategic dispositions, using proceeds to retire $394 million of debt. Veris’ stock remains deeply discounted, down over 70% from 2007. The company reaffirmed healthy same-store revenue growth for this year.

Argosy-Lionbridge Management reduced its holding in Veris Residential by 372,132 shares in the third quarter, according to an SEC filing. The stake now stands at 265,413 shares valued at $4 million. Veris Residential’s stock is priced at $14.18.

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