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) announced that Anna Malhari, COO, will participate in a panel at The Nest Summit Campus during Climate Week NYC on September 22, 2022. The discussion, titled "A Brand's Role in the Shift to Sustainable Choices for Businesses & Consumers," aims to address sustainable practices within the built environment, which contributes to 40% of global carbon emissions. Malhari emphasizes Veris's commitment to sustainable living options and corporate responsibility in climate action. The event is open for free registration to the public.
Veris Residential (NYSE: VRE) announced its sponsorship of the St. Jude Children's Research Hospital Walk/Run 5K on September 24, 2022, at MetLife Stadium, aiming to raise $100,000 for childhood cancer support and research. Peloton Instructor Kirsten Ferguson will lead participants in a warm-up. The event marks St. Jude's first in-person event since the pandemic, highlighting Veris's commitment to community support. Since 1962, St. Jude has increased childhood cancer survival rates from 20% to over 80%.
Veris Residential, Inc. (NYSE: VRE) reported strong Q2 2022 results, with net income of $0.25 per share and Core FFO of $0.15 per share. The multifamily portfolio achieved 97.1% occupancy, and Same Store NOI rose 28.0% year-over-year. The company acquired The James, a 240-unit property for $129.6 million, and is set to generate $19.6 million from the sale of non-core assets. Despite challenges in the office sector, Veris has a solid liquidity position of $203 million and a commitment to reduce emissions by 50% by 2030, reflecting its strategic transformation efforts.
Veris Residential (NYSE: VRE) has achieved a top ISS ESG QualityScore rating of '1' for both Environmental and Social disclosures, significantly improving from previous scores of 9 and 8. Approximately 40% of its multifamily portfolio is now Green Certified, an increase from 33% just two months prior. The company has signed sustainability addendums for more than 20% of its residential portfolio and has successfully earned LEED® Silver certification for several properties. These advancements highlight Veris Residential's commitment to sustainability and long-term shareholder value.
Veris Residential, Inc. (NYSE: VRE) will report its second quarter 2022 financial results on August 3, 2022, after market close. The results will be discussed during a conference call on August 4, 2022, at 8:30 a.m. eastern, accessible via the Company's website or by phone. Veris Residential is committed to environmentally and socially responsible real estate investment, focusing on Class A multifamily properties. For more information, visit verisresidential.com.
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Veris Residential, Inc. (NYSE: VRE) announced its Q1 2022 results, reporting a net loss of $0.13 per share, compared to a profit of $0.06 per share in Q1 2021. Core Funds from Operations (Core FFO) dropped to $0.09 per share, down from $0.18 per share year-over-year. Despite these losses, the multifamily portfolio showed strong occupancy, with 97.5% of the 6,691 units occupied. Notably, Same Store Net Operating Income (NOI) increased 20.0% year-over-year, driven by higher rents and reduced concessions. The company completed significant transactions, including acquiring a 240-unit property for $130 million.
Veris Residential, Inc. (NYSE: VRE) will announce its first quarter 2022 financial results on May 4, 2022, after market close. A webcast and conference call will take place on May 5, 2022, at 8:30 a.m. Eastern. Investors can access the call via the company’s website or by dialing (646) 828-8073. Audio replays will be available post-conference on their site. Veris Residential focuses on holistic, environmentally-conscious Class A multifamily properties, guided by strong corporate governance.
Veris Residential, Inc. (NYSE: VRE) has announced two key executive appointments aimed at reinforcing its transition to a pure-play multifamily REIT. Jeff Turkanis, formerly Head of U.S. Residential at Oxford Properties Group, becomes Chief Investment Officer on April 4, 2022. Taryn Fielder, previously General Counsel at WashREIT, will take on the role of General Counsel effective April 18, 2022. Both appointees bring extensive real estate experience and are expected to enhance the company's investment strategies and legal compliance.
Veris Residential reported its Q4 and full year 2021 results, showing a net loss of $(0.32) per share in Q4 and $(1.39) for the year. Core FFO per share was $0.17 for Q4 and $0.68 for the full year. The multifamily portfolio's occupancy was 96.6%, with a 21% increase in Same Store NOI year-over-year. The company sold $741 million in suburban office properties and added 866 units to its multifamily portfolio. A rebranding effort underscores a strategic shift to a multifamily focus while maintaining efforts in sustainability. A CFO transition is planned for April 2022.
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