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Veris Residential, Inc. - VRE STOCK NEWS

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 leading real estate investment trust (REIT) that primarily focuses on the development, ownership, and management of premier multifamily communities. With its roots in the former Mack-Cali Realty Corporation and its subsidiary, Roseland Residential, Veris Residential has evolved with a new vision and emphasis on sustainability and community impact.

Headquartered in Jersey City, New Jersey, Veris Residential owns and operates a diverse real estate portfolio predominantly comprised of multifamily rental properties in the Northeast, alongside Class A office properties. The company manages all aspects of real estate operations, including management, leasing, acquisition, and development, internally.

Veris Residential's mission is to create holistic living experiences that cater to the sustainability-conscious lifestyles of modern residents. The company's portfolio is underpinned by high-quality assets and cutting-edge technology, ensuring a sustainable and enriching living environment. The company is committed to reducing its environmental footprint, enhancing community well-being, and promoting diversity within its workforce.

Recent achievements highlight Veris Residential's adaptive approach and financial health. The company has strategically divested non-core assets, such as the Harborside properties, to streamline its portfolio and focus on core multifamily properties. These moves have improved the company's balance sheet and allowed for the reinstatement of shareholder distributions. Notably, the company's operational strength was evident in its third quarter of 2023, where it outperformed with a Same Store NOI growth of over 17%, despite a softening rental market.

Veris Residential is also recognized for its strong corporate governance and leadership in environmental, social, and governance (ESG) practices. The company has earned accolades such as the Nareit Leader in the Light award for sustainability and a 5 Star rating from the GRESB Annual Survey.

Looking forward, Veris Residential continues to focus on optimizing its operations, capital, and balance sheet to create value for its stakeholders. The company actively engages with academic institutions like MIT's Center for Real Estate to drive innovation and sustainability in the real estate sector.

News

Veris Residential, Inc. Reports First Quarter 2024 Results

Rhea-AI Summary
Veris Residential, Inc. reported first-quarter 2024 results, showing improvements in financial performance and operational metrics. The company achieved positive Same Store NOI growth, secured a new credit facility, and raised guidance for the year. Despite challenges, they managed to enhance liquidity, financial flexibility, and shareholder value. The company also received recognition for its ESG efforts and sustainability initiatives.
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Veris Residential, Inc. Announces Dates for First Quarter 2024 Financial Results and Webcast

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Veris Residential, Inc. schedules its first quarter 2024 financial results webcast and conference call for April 25, 2024, after market close. The company, listed as VRE on NYSE, focuses on Class A multifamily properties.
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Veris Residential Declares Quarterly Cash Dividend

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Veris Residential, Inc. (NYSE: VRE) declares a cash dividend of $0.0525 per share for the first quarter of 2024, payable on April 16, 2024. The dividend is subject to approval by the Board of Directors based on various financial factors.
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Veris Residential, Inc. Reports Fourth Quarter and Full Year 2023 Results

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Veris Residential, Inc. (NYSE: VRE) reported results for Q4 and FY 2023, with Core FFO per share increasing by 20% to $0.53. The company achieved 17.6% annual NOI growth, reduced Core G&A by 13%, and reinstated dividends. They completed the transformation to a pure-play multifamily REIT, selling over $700 million of non-strategic assets. The Same Store multifamily Blended Net Rental Growth Rate was 5.0% for the quarter and 9.3% for the year. The Company's financial metrics are strong, with available liquidity of $95 million and virtually all debt hedged or fixed. Veris Residential also received recognition for sustainability and DEI efforts.
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Veris Residential, Inc. Announces Dates for Fourth Quarter 2023 Financial Results and Webcast

Rhea-AI Summary
Veris Residential, Inc. (NYSE: VRE) will host its fourth quarter and full year 2023 financial results webcast and conference call on February 22, 2024. The company primarily owns, operates, acquires, and develops Class A multifamily properties. The webcast and conference call details are available on the company's website. Participants can access the webcast via the internet or dial in to the conference call. An audio replay will be available on Veris Residential's website.
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Veris Residential Announces Tax Treatment of 2023 Distributions

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Veris Residential, Inc. (VRE) has announced the tax treatment of its 2023 Distributions, with a total distribution of $0.05 per share of common stock. The distribution is to be classified for income tax purposes as cash distributions, with $0.05 as unrecaptured section 1250 gain. Shareholders are advised to consult with their tax advisors for specific tax treatment.
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Veris Residential Declares Quarterly Cash Dividend

Rhea-AI Summary
Veris Residential, Inc. (NYSE: VRE) has announced a 5.0% increase in its cash dividend for the fourth quarter of 2023, amounting to $0.0525 per share. The dividend will be paid on January 10, 2024, to shareholders of record as of December 29, 2023. The company primarily owns, operates, acquires, and develops Class A multifamily properties.
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Veris Residential Recognized as a Leader in ESG, DEI and Corporate Stewardship by Top Real Estate and Business Organizations

Rhea-AI Summary
Veris Residential, Inc. (NYSE: VRE) has received several prestigious awards for its work in Environmental, Social and Governance (ESG), including Diversity, Equity and Inclusion (DEI) and corporate stewardship. The company was recognized as a Leader in the Light and awarded the Bronze 2023 Diversity Equity & Inclusion Recognition from Nareit, earned a 5 Star rating for a second consecutive year in the 2023 GRESB Real Estate Assessment, and received the Best Corporate Steward: Small and Middle-Market Business Award from the United States Chamber of Commerce Foundation. Veris Residential's achievements reflect its commitment to sustainability and ESG practices, as well as its strategic transformation into a pure-play multifamily REIT.
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Veris Residential, Inc. Reports Third Quarter 2023 Results

Rhea-AI Summary
Veris Residential, Inc. reports results for Q3 2023 with a net loss per share of $(0.60) and Core FFO per share of $0.12. Multifamily portfolios are 95.3% and 95.5% occupied. Same Store NOI increased by 17.1%. $135 million of non-strategic sales closed since June 30. $71 million of non-strategic assets remain under contract for sale. $115 million Term Loan and $52 million Revolver fully repaid. Refinanced mortgages with interest rate savings. Named 2023 Global and Regional Sector Leader by GRESB. Positive operational results despite softening rents. Raises guidance for 2023.
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Veris Residential, Inc. Announces Dates for Third Quarter 2023 Financial Results and Webcast

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Veris Residential, Inc. to host Q3 2023 financial results webcast and conference call on October 26, 2023.
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FAQ

What is the current stock price of Veris Residential (VRE)?

The current stock price of Veris Residential (VRE) is $18.25 as of November 20, 2024.

What is the market cap of Veris Residential (VRE)?

The market cap of Veris Residential (VRE) is approximately 1.7B.

What is Veris Residential, Inc.?

Veris Residential, Inc. (NYSE: VRE) is a real estate investment trust (REIT) focused on the development, ownership, and management of premier multifamily communities, primarily in the Northeast.

What does Veris Residential specialize in?

Veris Residential specializes in multifamily rental properties and Class A office properties, with a strong emphasis on sustainability and community impact.

What recent achievements has Veris Residential accomplished?

Veris Residential has strategically divested non-core assets to streamline its portfolio, reinstated shareholder distributions, and reported a Same Store NOI growth of over 17% in Q3 2023.

How does Veris Residential approach sustainability?

Veris Residential integrates sustainability into its operations by creating holistic living environments, reducing environmental impact, and promoting community well-being.

What recognition has Veris Residential received for its ESG efforts?

Veris Residential has received accolades such as the Nareit Leader in the Light award for sustainability and a 5 Star rating from the GRESB Annual Survey.

Who leads Veris Residential?

Veris Residential is guided by an experienced management team and a Board of Directors focused on strong corporate governance and sustainable operations.

What are Veris Residential's future plans?

Veris Residential plans to continue optimizing operations, capital, and balance sheet to create value for stakeholders and maintain its leadership in sustainability.

How does Veris Residential engage with the academic community?

Veris Residential collaborates with institutions like MIT's Center for Real Estate to drive innovation and sustainability in the real estate sector.

Where is Veris Residential headquartered?

Veris Residential is headquartered in Jersey City, New Jersey.

How can I learn more about Veris Residential?

For more information on Veris Residential, Inc. and its properties available for lease, visit www.verisresidential.com.

Stock VRE logo
Veris Residential, Inc.

NYSE:VRE

VRE Rankings

#2106 Ranked by Market Cap
#1480 Ranked by Dividends

VRE Stock Data

1.69B
77.46M
10.05%
108.22%
4.22%
REIT - Residential
Real Estate Investment Trusts
Link
United States of America
JERSEY CITY