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Veris Corporate Presentation

Recent Event

Fourth Quarter 2024 Earnings Conference Call

Latest Financial Results

$0.60

Core FFO per share for 2024, $0.11 for fourth quarter 2024.

93.9%

The 7,621-unit operating Same Store multifamily portfolio occupancy as of December 31, 2024

6.9%

Same Store operating multifamily portfolio year-over-year NOI increase, 7.9% when normalized for the impact of RE tax appeals.

4.0%

Same Store Multifamily Blended Net Rental Growth Rate for the year and 0.5% for the quarter.

For complete information regarding our financials, see our periodic filings

Latest Annual Filing

For Fiscal Year Ending Dec 31, 2024

Stock Information

Veris Residential, Inc.

Veris Residential, Inc. at a Glance

7,621

Same Store units in our portfolio

93.9%

Same Store occupancy

9

Average Asset Age (Year)

As of December 31, 2024 · Q4 2024 Earnings Release

Veris Residential Key Financial Metrics

We continue to cultivate sustainable communities across the Northeast.

Key Financial Metrics

Metric Q4 2024 Q3 2024
Net Income / (Loss) per Diluted Share ($0.13) ($0.10)
Core FFO Per Diluted Share1 $0.11 $0.17
Weighted Average - Diluted Shares2 102,587 102,312
Total Equity $1.7 billion $1.8 billion
Total Debt $1.7 billion $1.7 billion
Total Capitalization $3.4 billion $3.5 billion
Debt-to-Undepreciated Assets 49.1% 49.1%
Interest Coverage Ratio1 1.7x 1.7x
Net Debt $1.6 billion $1.6 billion
TTM EBITDA 140,694 $140,682
TTM Net Debt to EBITDA 11.7x 11.7x

Key Portfolio Statistics

Metric Q4 2024 Q3 2024
Multifamily Portfolio
Operating Units 7,621 7,621
% Physical Occupancy 93.9% 95.1%
Blended Rental Growth Rate 0.5% 4.6%
Average Rent per Home $4,033 $3,980

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.

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

Same Store Multifamily Occupancy

  • 2021
  • 2022
  • 2023
  • 2024