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Latest Quarterly Metrics

Apr 23, 2025 • 4:15 PM EDT

Q1 2025

Quarter Ended Mar 31, 2025

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$0.16

Core FFO per share for first quarter 2025.

94.0%

The 7,621-unit operating Same Store multifamily portfolio occupancy for first quarter 2025.

3.2%

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

2.4%

Same Store Multifamily Blended Net Rental Growth Rate for the quarter.

For complete information regarding our financials, see our periodic filings

Communities with Purpose

Veris Residential, Inc. is a forward-thinking real estate investment trust (REIT) that primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast. Our technology-enabled, vertically integrated operating platform delivers a contemporary living experience aligned with residents’ preferences while positively impacting the communities we serve. We are guided by an experienced management team and Board of Directors, underpinned by leading corporate governance principles; a best-in-class approach to operations; and an inclusive culture based on meritocratic empowerment.

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Recent Event

First Quarter 2025 Earnings Conference Call

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Latest Quarterly Metrics

Q1 2025

Quarter Ended Mar 31, 2025

$0.16

Core FFO per share for first quarter 2025.

94.0%

The 7,621-unit operating Same Store multifamily portfolio occupancy for first quarter 2025.

3.2%

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

2.4%

Same Store Multifamily Blended Net Rental Growth Rate for the quarter.

For complete information regarding our financials, see our periodic filings

Stock Information

Veris Residential, Inc.

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Veris Residential, Inc. at a Glance

7,621

Same Store units in our portfolio

94.0%

Same Store occupancy

10

Average Asset Age (Year)

As of March 31, 2025 · Q1 2025 Earnings Release

Veris Residential Key Financial Metrics

We continue to cultivate sustainable communities across the Northeast.

Key Financial Metrics

Metric Q1 2025 Q4 2024
Net Income / (Loss) per Diluted Share ($0.12) ($0.13)
Core FFO Per Diluted Share1 $0.16 $0.11
Weighted Average - Diluted Shares2 102,066 102,587
Total Equity $1.7 billion $1.7 billion
Total Debt $1.7 billion $1.7 billion
Total Capitalization $3.4 billion $3.4 billion
Debt-to-Undepreciated Assets 49.0% 49.1%
Interest Coverage Ratio1 1.7x 1.7x
Net Debt $1.6 billion $1.6 billion
TTM EBITDA 144,191 140,694
TTM Net Debt to EBITDA 11.4x 11.7x

Key Portfolio Statistics

Metric Q1 2025 Q4 2024
Multifamily Portfolio
Operating Units 7,621 7,621
% Physical Occupancy 94.0% 93.9%
Blended Rental Growth Rate 2.4% 0.5%
Average Rent per Home $4,019 $4,033

Notes

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

View reconciliation

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