A magnetic random access memory (MRAM) element is configured to store a state when electric current flows and includes a first magnetic tunnel junction (MTJ) for storing a data bit and a second MTJ for storing a reference bit. The direction of magnetization of the FL is determinative of the data bit stored in the at least one MTJ. Further, the MTJ includes a magnetic reference layer (RL) having a magnetization with a direction that is perpendicular to the film plane, and a magnetic pinned layer (PL) having a magnetization with a direction that is perpendicular to the film plane. The direction of magnetization of the RL and the PL are anti-parallel relative to each other in the first MTJ. The direction of magnetization of the FL, the RL and the PL are parallel relative to each other in the second MTJ.