Veris Residential shares spike after report
22/11/2022 20:18
** Veris Residential VRE.N shares briefly spiked to a session
high on Tuesday before paring gains after The Wall Street
Journal reported Fortress Investment Group agreed to help
finance Kushner Cos' $4.3 bln bid for VRE, a real estate
investment trust (REIT)
** The story cited a letter dated Nov. 17 from Fortress to
the board of Veris, an appartment building owner
** Shares in VRE last up 3.99% at $15.52 after rising as
much as 11.73% to $16.67
** Trading volume had also briefly spiked higher and for the
session so far was last at 1.1 times 10-DMA
** VRE shares last down 16% YTD vs 25.9% drop for S&P 500
Real Estate index .SPLRCR
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com;))