Major Fund Reduces Stake in REIT Veris Residential Amidst 70% Decline Since 2007

Argosy-Lionbridge Management, a New York City-based fund, sold 372,132 shares of Veris Residential in Q3, reducing its position by $5.5 million. The fund now holds 265,413 VRE shares valued at $4 million. Veris Residential's stock has been down 70% since 2007 and is underperforming the S&P 500. The fund's stake in Veris represents 2.7% of its reportable AUM.