Veris Residential

Veris Residential, Inc. is a real estate investment trust, which owns and operates a real estate portfolio comprised predominantly of Class A office and flex properties located primarily in the Northeast. It operates through the following segments: Commercial and Other Real Estate, and Multi-Family Real Estate and Services. The Commercial and Other Real Estate and Multi-Family Real Estate Portfolio segments provides leasing, property management, acquisition, development, construction, and tenant-related services. The company was founded on May 24, 1994 and is headquartered in Jersey City, NJ.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Veris Residential (VRE) advances as a pure play multi-family company

Veris Residential (VRE) reported strong operational performance and progress in its strategic transformation in Q4 2022, focusing on multi-family business growth and sustainability.
Despite challenges in dividend reinstatement and muted leasing, VRE's focus on balance sheet strength, cost optimization, and strategic assets positions it well for future growth.
With opportunities for NOI growth, asset optimization, and potential acquisitions, VRE remains poised to capitalize on its multi-family portfolio and drive shareholder value.

Veris Residential (VRE) reports strong Q1 performance and reinstates dividends

Veris Residential (VRE) delivered a solid Q1 2023 performance, showcasing operational strength, financial resilience, and commitment to ESG initiatives. The company's decision to reinstate dividends and revise guidance upward reflect confidence in its future prospects. While challenges in normalizing AFFO performance exist, Veris Residential (VRE) is well-positioned to leverage opportunities for growth.

Veris Residential reports record revenue and strong operational performance in Q2 2023

Veris Residential (VRE) showcased strong operational and financial performance in Q2 2023, driven by strategic asset sales, successful ESG initiatives, and efficient cost management.
While challenges like net losses and raised expectations exist, the company's strengths in stable debt management, occupancy rates, and product launches position it well for future growth.
By leveraging opportunities in ESG, raised guidance, and management optimism, Veris Residential (VRE) can navigate challenges, drive profitability, and maintain investor interest.

Veris Residential (VRE) excels in Q3 performance and sustainability initiatives

Veris Residential (VRE) reported strong Q3 results driven by operational excellence, strategic asset sales, and prudent financial management. The company's focus on sustainable growth, debt refinancing, and expense control positions it well for future success amidst market challenges and opportunities.

Veris Residential reports strong Q4 performance and outlines growth strategies

Veris Residential (VRE) showcased strong operational and financial performance in Q4 2023, driven by rental growth and cost efficiencies.
Despite challenges like net losses and interest income impacts, the company's strategic focus on value creation and operational enhancements bode well for the future.
With a positive market outlook in the Northeast and ongoing initiatives for efficiency and growth, Veris Residential is poised for continued success in 2024.

Veris Residential (VRE) reports strong Q1 performance and boosts financial flexibility

Veris Residential (VRE) demonstrated resilience and growth potential in Q1 2024, leveraging operational strengths and strategic financial initiatives.
While facing challenges in profitability and debt refinancing, the company's focus on sustainability and cost management presents opportunities for long-term value creation.
Investors can look forward to improved earnings outlook, enhanced liquidity, and a proactive approach to capital optimization from Veris Residential (VRE).

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Veris Residential, Inc. (NYSE:VRE ) Q3 2024 Earnings Conference Call October 31, 2024 8:30 AM ET Company Participants Taryn Fielder - General Counsel & Secretary Mahbod Nia - Chief Executive Officer Amanda Lombard - Chief Financial Officer Conference Call Participants Steve Sakwa - Evercore ISI Eric Wolfe - Citi Thomas Catherwood - BTIG Michael Lewis - Truist Securities Inc. Operator Good morning and welcome to Residential Veris Inc's Third Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode.

Veris Residential, Inc. (VRE) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for Veris (VRE) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Veris (VRE) Reports Q3 Earnings: What Key Metrics Have to Say

Veris Residential (VRE) came out with quarterly funds from operations (FFO) of $0.17 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to FFO of $0.12 per share a year ago.

Veris Residential (VRE) Surpasses Q3 FFO Estimates

Raises Full-Year 2024 Guidance JERSEY CITY, N.J. , Oct. 30, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally and socially conscious multifamily REIT, today reported results for the third quarter 2024.

Veris Residential, Inc. Reports Third Quarter 2024 Results

JERSEY CITY, N.J. , Oct. 10, 2024 /PRNewswire/ -- Veris Residential, Inc. ("Veris Residential" or the "Company") (NYSE: VRE), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announces that it will host its third quarter 2024 financial results webcast and conference call on Thursday, October 31, 2024, at 8:30 a.m.

Veris Residential, Inc. Announces Dates for Third Quarter 2024 Financial Results and Webcast

AvalonBay Communities

BRT Apartments

Blackstone Group

Camden Property

Equity Residential

Independence Realty Trust

Mid-America Apartment Communities

NexPoint Residential Trust

Equity Residential bought 11 apartments with 3572 units from Blackstone for $964 million, expanding its presence in Dallas, Denver, and Atlanta. Public apartment REITs are trading below asset value, with substantial differences in pricing based on location and quality of properties. Multifamily REITs like BSRTF, NXRT, CSR, and CPT are considered the most compelling investments in the sector, but caution is advised due to potential economic downturn.

Massive Apartment Deals Demonstrate Value Of Apartment REITs

JERSEY CITY, N.J. , Aug. 5, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) ("Veris Residential" or the "Company"), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announced that the Company's Board of Directors has declared a cash dividend on its common stock for the third quarter 2024 in the amount of $0.07 for the period ending September 30, 2024, representing an increase of 7% from the prior dividend.

Veris Residential Declares Quarterly Cash Dividend

Veris Residential underwent a major transformation, shifting from a diversified REIT to a multifamily landlord with a socially conscious business model. VRE focuses on luxury apartments in the Northeast, with an average monthly rental rate of nearly $4,000 per unit. VRE reported strong Q2 earnings, showcasing rental growth, dispositions, and commitment to their new brand.

Veris Residential Q2 Earnings: Finding Their Footing Under A New Brand

Veris Residential, Inc. (NYSE:VRE ) Q2 2024 Earnings Conference Call July 25, 2024 8:30 AM ET Company Participants Taryn Fielder - General Counsel & Secretary Mahbod Nia - Chief Executive Officer Amanda Lombard - Chief Financial Officer Conference Call Participants Steven Song - Bank of America Eric Wolfe - Citi Tom Catherwood - BTIG David Segall - Green Street Michael Lewis - Truist Securities Operator Greetings and welcome to the Veris Residential Inc. Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Veris Residential, Inc. (VRE) Q2 2024 Earnings Call Transcript

Veris Residential (VRE) came out with quarterly funds from operations (FFO) of $0.18 per share, beating the Zacks Consensus Estimate of $0.13 per share. This compares to FFO of $0.16 per share a year ago.

Veris Residential (VRE) Tops Q2 FFO Estimates

JERSEY CITY, N.J. , July 24, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally and socially conscious multifamily REIT, today reported results for the second quarter 2024.

Veris Residential, Inc. Reports Second Quarter 2024 Results

Apartment Investment and Management

Centerspace REIT

Apartment REITs have beaten 1Q24 earnings despite a massive new supply wave hitting the sector in 2024 and early 2025. Demand drivers such as strong employment, low savings rate, high cost of houses, and high cost of construction have kept occupancy high despite the supply. Supply growth is dropping in mid-to-late 2025, making investments in the apartment sector appealing for long-term growth potential.

Apartment Fundamental Outlook Improved As Supply Wanes

JERSEY CITY, N.J. , July 8, 2024 /PRNewswire/ -- Veris Residential, Inc. ("Veris Residential" or the "Company") (NYSE: VRE), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announces that it will host its second quarter 2024 financial results webcast and conference call on Thursday, July 25, 2024, at 8:30 a.m.

Veris Residential, Inc. Announces Dates for Second Quarter 2024 Financial Results and Webcast

JERSEY CITY, N.J. , June 18, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company") today announced that it has withdrawn its proposed public offering of shares of its common stock.

Veris Residential, Inc. Announces Withdrawal of Public Offering of Common Stock

JERSEY CITY, N.J. , June 17, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company") announced today that it has commenced an underwritten public offering of 10,500,000 shares of its common stock.

Veris Residential, Inc. Announces Public Offering of Common Stock

Saul Centers

Braemar Hotels & Resorts Inc

CBL & Associates Properties

Clear Channel Outdoor Holdings

Farmland Partners

Global Net Lease

Industrial Logistics Properties

SL Green Realty

Presidio Property Trust

Uniti Group

The next two to five years probably will not be kind to REITs. Weak REITs with messy balance sheets, weak forecast for FFO growth, unsafe dividends, and/or overvaluation are likely to suffer the most damage in any downturn. This article identifies 11 companies that fit this description.

Sell These 11 REITs While You Still Can

Explores the Integration of ESG Considerations into Business Decision-Making for the Benefit of All Stakeholders CAMBRIDGE, Mass. and JERSEY CITY, N.J.

Veris Residential CEO Mahbod Nia Delivers Lecture at MIT Center for Real Estate

Medical Properties Trust

Office Properties Income Trust

BankRate recently noted that home prices in the U.S. continue to rise due to a persistent lack of housing supply, even amidst some of the highest mortgage rates seen in the last two decades. This ongoing price increase is driven by low inventory levels and robust demand, which outpaces the supply.

3 REITs That Could Be Heading Six-Feet Under

Veris Residential, Inc. (NYSE:VRE ) Q1 2024 Earnings Conference Call April 25, 2024 8:30 AM ET Company Participants Taryn Fielder - General Counsel Mahbod Nia - Chief Executive Officer Amanda Lombard - Chief Financial Officer Conference Call Participants Steve Sakwa - Evercore ISI Eric Wolfe - Citibank Josh Dennerlein - Bank of America Tom Catherwood - BTIG Michael Lewis - Truist securities Operator Greetings, and welcome to the Veris Residential First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Veris Residential, Inc. (VRE) Q1 2024 Earnings Call Transcript

While the top- and bottom-line numbers for Veris (VRE) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Veris (VRE) Reports Q1 Earnings: What Key Metrics Have to Say

JERSEY CITY, N.J. , April 24, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally and socially conscious multifamily REIT, today reported results for the first quarter 2024.

Veris Residential, Inc. Reports First Quarter 2024 Results

JERSEY CITY, N.J., April 15, 2024 /PRNewswire/ -- Veris Residential, Inc. ("Veris Residential" or the "Company") (NYSE: VRE), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announces that it will host its first quarter 2024 financial results webcast and conference call on Thursday, April 25, 2024, at 8:30 a.m.

Veris Residential, Inc. Announces Dates for First Quarter 2024 Financial Results and Webcast

Veris Residential, Inc. (VRE) Q4 2023 Earnings Call Transcript

The headline numbers for Veris (VRE) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, Veris (VRE) Q4 Earnings: A Look at Key Metrics

Veris Residential (VRE) came out with quarterly funds from operations (FFO) of $0.12 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to FFO of $0.05 per share a year ago.

News for Veris Residential Stock (VRE)