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Veris Corporate Presentation

Recent Event

Second Quarter 2025 Earnings Conference Call

Latest Quarterly Metrics

$0.17

Core FFO per share for second quarter 2025.

93.9%

The 7,491-unit operating Same Store multifamily portfolio occupancy for second quarter 2025.

4.4%

Same Store operating multifamily portfolio year-to-date NOI increase and 5.6% for the second quarter 2025.

3.5%

Same Store Multifamily Blended Net Rental Growth Rate for the year and 4.7% for the quarter.

For complete information regarding our financials, see our periodic filings

Stock Information

Veris Residential, Inc.

Veris Residential, Inc. at a Glance

7,491

Same Store units in our portfolio

93.9%

Same Store occupancy

10

Average Asset Age (Year)

As of June 30, 2025 · Q2 2025 Earnings Release

Veris Residential Key Financial Metrics

We continue to cultivate sustainable communities across the Northeast.

Key Financial Metrics

Metric Q2 2025 Q1 2025
Net Income / (Loss) per Diluted Share $0.12 ($0.12)
Core FFO Per Diluted Share1 $0.17 $0.16
Weighted Average - Diluted Shares2 102,259 102,066
Total Equity $1.5 billion $1.7 billion
Total Debt $1.8 billion $1.7 billion
Total Capitalization $3.4 billion $3.4 billion
Debt-to-Undepreciated Assets 50.7% 49.0%
Interest Coverage Ratio1 1.7x 1.7x
Net Debt $1.8 billion $1.6 billion
TTM Adjusted EBITDA (Normalized) $159,162 $144,659
Net Debt-to-EBITDA (Normalized) 11.3x 11.4x

Key Portfolio Statistics

Metric Q2 2025 Q1 2025
Multifamily Portfolio
Operating Units 7,491 7,491
% Physical Occupancy 93.9% 94.0%
Blended Rental Growth Rate 4.7% 2.3%
Average Rent per Home $4,085 $4,023

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

Same Store Multifamily Occupancy

  • 2022
  • 2023
  • 2024
  • 2025