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.

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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).

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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.

Veris Residential (VRE) Surpasses Q4 FFO and Revenue Estimates

JERSEY CITY, N.J. , Feb. 21, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally and socially conscious multifamily REIT, today reported results for the fourth quarter and full year 2023.

Veris Residential, Inc. Reports Fourth Quarter and Full Year 2023 Results

JERSEY CITY, N.J. , Feb. 6, 2024 /PRNewswire/ -- Veris Residential, Inc. ("Veris Residential") (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 fourth quarter and full year 2023 financial results webcast and conference call on Thursday, February 22, 2024, at 8:30 a.m.

Veris Residential, Inc. Announces Dates for Fourth Quarter 2023 Financial Results and Webcast

JERSEY CITY, N.J. , Jan. 22, 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 the tax treatment of its 2023 Distributions.

Veris Residential Announces Tax Treatment of 2023 Distributions

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U.S. equity markets extended their winning streak to an eighth week - the longest in five years - after inflation data both domestically and abroad showed a further cooling of price pressures. Extending its weekly winning streak to the longest since 2017, the S&P 500 posted gains of another 0.9% on the week, lifting the benchmark to within 1% of record highs. Pushing their eight-week rebound to over 25%, the Equity REIT Index gained 0.6% this week, with 9-of-18 property sectors in positive territory, while the Mortgage REIT Index gained 1.3%.

Disinflation: A Gift That Keeps Giving

Veris Residential is a REIT focused on Class-A multi-family properties in the Northeast. The company is in the process of becoming a pure-play multifamily REIT and has already made some necessary divestments. However, problems related to profitability, leverage, and liquidity make it unattractive right now.

Veris Residential: A Turnaround In Process

Earns Leader in the Light and Diversity, Equity and Inclusion Recognition Awards from Nareit Named Global Listed and Regional Sector Leader and Achieves Second Consecutive 5 Star Rating in 2023 GRESB Real Estate Assessment, Ranking #2 of 115 Publicly Listed Companies in the Americas  Receives Best Corporate Steward: Small and Middle-Market Business Award from the United States Chamber of Commerce Foundation JERSEY CITY, N.J. , Nov. 16, 2023 /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 it has been recognized as a leader for its work in Environmental, Social and Governance (ESG), including Diversity, Equity and Inclusion (DEI) and corporate stewardship, by well-recognized real estate and business organizations.

Veris Residential Recognized as a Leader in ESG, DEI and Corporate Stewardship by Top Real Estate and Business Organizations

Veris Residential, Inc. (NYSE:VRE ) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Taryn Fielder - General Counsel and Secretary Mahbod Nia - Chief Executive Officer Amanda Lombard - Chief Financial Officer Conference Call Participants Eric Wolfe - Citi Research Steve Sakwa - Evercore ISI Anthony Paolone - JPMorgan Josh Dennerlein - Bank of America Thomas Catherwood - BTIG Operator Greetings and welcome to the Veris Residential Inc. Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Veris Residential, Inc. (VRE) Q3 2023 Earnings Call Transcript

Veris Residential (VRE) came out with quarterly funds from operations (FFO) of $0.12 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.15 per share a year ago.

Veris Residential (VRE) Meets Q3 FFO Estimates

JERSEY CITY, N.J. , Oct. 25, 2023 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company") today reported results for the third quarter 2023.

Veris Residential, Inc. Reports Third Quarter 2023 Results

JERSEY CITY, N.J. , Oct. 13, 2023 /PRNewswire/ -- Veris Residential, Inc. ("Veris Residential") (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 2023 financial results webcast and conference call on Thursday, October 26, 2023, at 8:30 a.m.

Veris Residential, Inc. Announces Dates for Third Quarter 2023 Financial Results and Webcast

Veris (VRE) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Veris (VRE) Loses -10.13% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Veris Residential is a now multifamily REIT which has been implementing a strategy to sell off their office and hotel properties for a few years. The company's financial results show a positive growth, however, the balance sheet is something to look out for. I present my analysis which leads me to a HOLD rating.

Veris Residential: Newest Results Show An Improvement Of The Company's Operations (Upgrade)

NEW YORK , Aug. 18, 2023 /PRNewswire/ -- Kushner (together with its affiliates, "Kushner"), a seasoned real estate owner and operator and one of the largest shareholders of Veris Residential (NYSE: VRE) ("Veris" or the "Company"), today issued the following statement. "While we have openly expressed concerns in the past regarding certain aspects of Veris's operations, governance and capital structure, we feel that, in keeping with our open communication with the Veris and its shareholders, it is important to recognize tangible progress when we see it.

KUSHNER COMPANIES ISSUES STATEMENT REGARDING VERIS RESIDENTIAL

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Veris Residential, Inc. (VRE) Q2 2023 Earnings Call Transcript

Call and Webcast to be Held at 8:30 a.m. Easter Time on Thursday, July 27  JERSEY CITY, N.J.

Veris Residential Issues Clarification Regarding Scheduled Time for Second Quarter 2023 Earnings Conference Call

Veris Residential (VRE) came out with quarterly funds from operations (FFO) of $0.16 per share, beating the Zacks Consensus Estimate of $0.09 per share. This compares to FFO of $0.15 per share a year ago.

Veris Residential (VRE) Q2 FFO and Revenues Top Estimates

JERSEY CITY, N.J. , July 26, 2023 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company") today reported results for the second quarter 2023.

Veris Residential, Inc. Reports Second Quarter 2023 Results

Transaction Marks Pivotal Point for Veris Residential and Cements Company's Position as a Pure-Play Multifamily REIT Rockpoint's Preferred Equity Interest Redeemed for $520 Million BOSTON and JERSEY CITY, N.J. , July 26, 2023 /PRNewswire/ -- Veris Residential, Inc. ("Veris Residential") (NYSE: VRE), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, and Rockpoint, a Boston-based real estate investment management firm, today announced that the companies have completed a transaction in which Veris Residential has purchased and redeemed the preferred units and certain other ownership interests from Rockpoint and its affiliates in Veris Residential Trust for $520 million.

VERIS RESIDENTIAL AND ROCKPOINT ANNOUNCE EARLY REDEMPTION OF ROCKPOINT'S INTEREST IN VERIS RESIDENTIAL TRUST

JERSEY CITY, N.J. , July 12, 2023 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties, today announces that it will host its second quarter 2023 financial results webcast and conference call on Thursday, July 27, 2023, at 8:30 a.m.

Veris Residential, Inc. Announces Dates for Second Quarter 2023 Financial Results and Webcast

Veris Residential becomes the first company in the world to achieve the WELL designation across portfolio, demonstrating its deep commitment to support a thriving, inclusive workplace and community JERSEY CITY, N.J. and NEW YORK , July 12, 2023 /PRNewswire/ -- International WELL Building Institute ("IWBI"), the global authority for driving market transformation through healthy buildings, organizations and communities, and Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally- and socially-conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announced that Veris Residential has become the first company globally to achieve the WELL Equity Ratin g across its entire managed portfolio and corporate headquarters.

Veris Residential Achieves WELL Equity Rating Across its Portfolio to Advance DE&I Commitment

News for Veris Residential Stock (VRE)