Welcome to our dedicated page for Veris Residential news (Ticker: VRE), a resource for investors and traders seeking the latest updates and insights on Veris Residential stock.
Veris Residential, Inc. (NYSE: VRE) is a real estate investment trust (REIT) that, according to its public statements, primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast. As a Northeast-focused multifamily REIT with a technology-enabled, vertically integrated operating platform, the company regularly releases news that reflects both its property operations and its corporate and capital markets activity.
The Veris Residential news feed features company-issued press releases and related updates. These items include quarterly and year-to-date financial results, where the company reports metrics such as net income (loss) per diluted share, Core Funds From Operations (Core FFO) per diluted share, Core Adjusted Funds From Operations (Core AFFO) per diluted share, Same Store blended net rental growth rate, Same Store net operating income (NOI) growth and Same Store occupancy. Earnings releases are often accompanied by guidance updates for measures like Same Store revenue growth, Same Store expense growth, Same Store NOI growth and Core FFO per share.
News coverage also highlights Veris Residential’s transaction activity and balance sheet strategy. The company has reported on non-strategic asset sales involving multifamily properties and land parcels in Northeastern markets, as well as the sale of the Harborside 8/9 land parcel in Jersey City, New Jersey. These releases describe how sale proceeds are used to repay term loans, reduce borrowings under the revolving credit facility and lower Net Debt-to-EBITDA (Normalized), in line with the company’s multi-year balance sheet and deleveraging strategy.
Additional news items include announcements of amendments to the company’s revolving credit and term loan agreement, which introduce a leverage-based pricing grid and adjust collateral pool requirements; declarations of quarterly cash dividends on the company’s common stock; and updates on corporate governance, such as appointments to the Board of Directors. Veris Residential also issues releases regarding the timing of earnings webcasts and conference calls and provides information about access to supplemental operating and financial data and corporate presentations.
For investors and observers of multifamily REITs, the Veris Residential news stream offers insight into the company’s operating performance, portfolio optimization, capital structure decisions and sustainability recognitions, including its reported Global Real Estate Sustainability Benchmark (GRESB) ratings and sector leadership acknowledgments.
Veris Residential, Inc. (NYSE: VRE), a forward-thinking, environmentally and socially conscious REIT focused on Class A multifamily properties, has announced the dates for its third quarter 2024 financial results release and webcast. The company will release its results after market close on Wednesday, October 30, 2024, followed by a webcast and conference call on Thursday, October 31, 2024, at 8:30 a.m. eastern.
Investors can access the webcast via the company's website or join the conference call by dialing +1 (877) 451-6152 (domestic) or +1 (201) 389-0879 (international). A replay of the call will be available until December 1, 2024, accessible through the website or by phone using the provided replay numbers and passcode 13747452.
Veris Residential (NYSE: VRE), a forward-thinking REIT focused on Class A multifamily properties, has declared a quarterly cash dividend of $0.07 per share for Q3 2024. This represents a 7% increase from the previous dividend. The dividend will be paid on October 16, 2024 to shareholders of record as of September 30, 2024. Veris Residential emphasizes its commitment to sustainability and social responsibility in its operations and property development. The company's Board of Directors considers multiple factors when determining future dividends, including AFFO, cash flows, and distribution requirements.
Veris Residential (NYSE: VRE) reported Q2 2024 results, showing robust financial and operational performance. Key metrics include a Net Income per Share of $0.03 versus a loss of $(0.30) in Q2 2023 and Core FFO per Share of $0.18, up from $0.16. Core AFFO per Share improved to $0.21 from $0.19. The company declared a quarterly dividend of $0.06 per share.
Year-to-date highlights: Same Store multifamily Blended Net Rental Growth Rate of 5.4% for the quarter and 5.0% year-to-date. Same Store NOI grew 7.9% year-over-year and 3.1% quarter-over-quarter. Occupancy increased by 100 basis points to 95.1%. Veris completed the sales of three assets for $82 million, making total non-strategic asset sales over $200 million.
Financial moves: Secured a new $500 million revolver and term loan, repaid $220 million in mortgages. Raised Core FFO guidance by 4% and NOI guidance by 50 basis points.
The company reported a 5.0% increase in Total Property Revenue to $74.7 million, while Total Property Expenses rose 19.5% to $25.8 million.
Veris Residential will announce its second quarter 2024 financial results on July 24, 2024, after the market closes. A webcast and conference call discussing these results will be held the following day, July 25, 2024, at 8:30 a.m. ET. Participants can access the webcast via the company's website, or join the conference call by dialing specified domestic and international numbers. A replay of the call will be available from July 25, 2024, at noon ET through August 25, 2024, and can be accessed via phone or the company's website.
Veris Residential (NYSE: VRE) announced the withdrawal of its proposed public offering of common stock. CEO Mahbod Nia stated that the decision aligns with the company’s disciplined capital allocation approach and aims to protect shareholder interests. Consequently, no shares will be sold, and the pending acquisition of 55 Riverwalk Place will be terminated. The announcement emphasized that this press release does not serve as a solicitation for the sale or purchase of securities in any jurisdiction where it would be unlawful.
Veris Residential announced a public offering of 10.5 million shares of its common stock, managed by J.P. Morgan, Goldman Sachs, and BofA Securities. Underwriters have a 30-day option to purchase an additional 1.575 million shares. The proceeds will fund the acquisition of 55 Riverwalk Place, a residential and retail property in West New York, NJ. If the acquisition fails, funds may address general corporate needs and repay $157 million in mortgage debt for the Soho Lofts property in Jersey City, NJ. Shares are offered under the company's effective shelf registration statement filed with the SEC.
Veris Residential, Inc. CEO Mahbod Nia delivered a lecture at MIT Center for Real Estate on integrating ESG considerations into business decisions. The company, a real estate investment trust, focuses on Class A multifamily properties. Nia emphasized the importance of balancing stakeholder priorities with ESG values and shared insights on the company's transformation.
Veris Residential, Inc. (NYSE: VRE) declared a cash dividend of $0.06 per share for the second quarter of 2024. The dividend, reflecting increased liquidity from a new credit facility, will be paid on July 16, 2024. The company's transformation to a pure-play multifamily REIT signals positive financial growth.
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