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Latest Presentation

Veris Corporate Presentation

Recent Event

Fourth Quarter 2023 Earnings Conference Call

Latest Financial Results

$0.12

Core FFO per share for the fourth quarter 2023

94.4%

The 6,691-unit operating Same Store multifamily portfolio occupancy as of December 31, 2023

17.6%

Same Store operating multifamily portfolio year-over-year NOI increase

5.0%

Same Store Multifamily Blended Net Rental Growth Rate for the quarter

For complete information regarding our financials, see our periodic filings

Latest Annual Filing

For Fiscal Year Ending Dec 31, 2023

Properties, People, Planet

Veris Residential promotes meaningful connections with its communities by sustaining a lifestyle centered around shared values. EMBRACE by Veris Residential formalizes our efforts towards diversity, equity & inclusion, philanthropy, and sustainability efforts.

Embrace Our Values

Stock Information

Veris Residential, Inc.

Veris Residential, Inc. at a Glance

6,691

Same Store units in our portfolio

94.4%

Same Store occupancy

7

Average Asset Age (Year)

As of December 31, 2023 · Q4 2023 Earnings Release

Veris Residential Key Financial Metrics

We continue to cultivate sustainable communities across the Northeast.

Key Financial Metrics

Metric Q4 2023 Q3 2023
Net Income / (Loss) per Diluted Share ($0.06) ($0.60)
Core FFO Per Diluted Share1 $0.12 $0.12
Weighted Average - Diluted Shares2 100,936,000 100,924,794
Total Equity $1.6 billion $1.7 billion
Total Debt $1.9 billion $1.9 billion
Total Capitalization $3.5 billion $3.7 billion
Debt-to-Undepreciated Assets 48.0% 50.5%
Net Debt $1.8 billion $1.9 billion
Annualized Adjusted EBITDA1 $129,992 $144,227
Net Debt-to-Adjusted EBITDA 13.8x 13.0x
Interest Coverage Ratio1 1.5x 1.5x

Key Portfolio Statistics

Metric Q4 2023 Q3 2023
Multifamily Portfolio
Operating Units 7,681 7,681
% Physical Occupancy 94.4% 95.3%
Same Store Units 6,691 6,691
Same Store Occupancy 94.4% 95.5%
Same Store Blended Rental Growth Rate 5.0% 9.3%
Average Rent per Home $3,854 $3,809

Notes

For complete information regarding our financials, see our periodic filings.

1 See "Information About FFO, Core FFO, AFFO, NOI, Adjusted EBITDA & EBITDAre" in the latest Supplemental Operating and Financial Data. FFO is calculated in accordance with the definition of the National Association of Real Estate Investment Trusts (Nareit). Interest Coverage Ratio is calculated as Adjusted EBITDA divided by interest expense.

2 Includes any outstanding preferred units presented on a converted basis into common units, noncontrolling interests in consolidated joint ventures and redeemable noncontrolling interests.

3 Harborside 5 is the only in-service office property remaining as of October 24, 2023.

Same Store Multifamily Occupancy

  • 2020
  • 2021
  • 2022
  • 2023

Incredible Spaces, Inspired Locations

Multifamily Portfolio

Our multifamily portfolio features stunning, sustainable spaces crafted to make a meaningful difference. Our connected locations, exceptional service and luxurious living spaces create a community you want to call home.

Explore our multifamily portfolio

Other Properties

Our remaining portfolio features properties made for the new age of work-life balance and wellness. Just minutes away from nearly every transit option and neighborhood parks and residential areas, our commercial locations are perfect for a hybrid-work environment.

Explore our other properties

IR Contacts

Company

Veris Residential, Inc.
Harborside 3, 210 Hudson St.
Ste. 400
Jersey City, NJ 07311

Investor Relations

Anna Malhari
Chief Operating Officer
investors@verisresidential.com

Transfer Agent

Computershare Trust Company, N.A.
P.O. Box 43006
Providence, RI 02940-3006
T: 800.317.4445