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.
Veris Residential (NYSE: VRE) reported its first-quarter 2023 results, revealing a net loss of
Veris Residential, Inc. (NYSE: VRE) announced it will host a webcast for its first quarter 2023 financial results on April 27, 2023, at 9:00 a.m. eastern. The results will be released after market close on April 26, 2023. Investors can access the conference call via the company's website or by calling designated numbers for domestic and international participants. The company focuses on owning and developing environmentally-conscious, Class A multifamily properties, aiming to meet the sustainability needs of modern residents while benefiting the communities it serves.
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