Mack-Cali Becomes Veris Residential

Investor Relations

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Latest Quarterly Metrics


Core FFO per share for the year and $0.05 for the fourth quarter


The 5,825-unit operating Same Store multifamily portfolio occupancy as of December 31, 2022


Same Store operating multifamily portfolio year-over-year NOI increase for the year and 12.6% for the fourth quarter


Same Store Multifamily Blended Net Rental Growth Rate for the year and 11.7% for the fourth quarter

For complete information regarding our financials, see our periodic filings

Veris Residential as a Pure-Play Multifamily REIT

Q1 2021 NOI

Q4 2022 NOI


(1) Excludes one remaining Suburban and one Waterfront office under contract and includes The James and stabilized Haus25.

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


Same Store units in our portfolio


Same Store occupancy


Average Asset Age (Year)

As of December 31, 2022 · Q4 2022 Earnings Release

Veris Residential Key Financial Metrics

We continue to cultivate sustainable communities across the Northeast.

Key Financial Metrics

Metric Q4 2022 Q3 2022
Net Income / (Loss) per Diluted Share $0.35 ($1.10)
Core FFO Per Diluted Share1 $0.05 $0.15
Weighted Average - Diluted Shares2 100,416,881 100,377,927
Total Equity $2.1 billion $1.7 billion
Total Debt $1.9 billion $2.3 billion
Total Capitalization $4.0 billion $4.0 billion
Debt-to-Undepreciated Assets 41.8% 46.6%
Net Debt $1.9 billion $2.2 billion
Annualized Adjusted EBITDA1 $139,888 $173,724
Net Debt-to-Adjusted EBITDA 13.3x 12.7x
Interest Coverage Ratio1 1.5x 2.0x

Key Portfolio Statistics

Metric Q4 2022 Q3 2022
Multifamily Portfolio
Operating Units 6,931 6,931
% Physical Occupancy 95.3% 95.8%
Same Store Units 5,825 5,825
Same Store Occupancy 95.6% 95.7%
Same Store Blended Rental Growth Rate 11.7% 19.2%
Average Rent per Home $3,482 $3,373
Lease-Up Units 750 750
Land Bank Units 5,009 5,459
Office Portfolio
Area (sqft) 3.0 million 4.3 million
Consolidated In-Service Properties 5 6
% Leased Office 67.9% 72.4%
% Commenced Occupancy 66.3% 70.1%
Average In-Place Rent per Square Foot $36.91 $37.92


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.

Same Store Multifamily Occupancy

  • 2020
  • 2021
  • 2022

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


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

Investor Relations

Anna Malhari
Chief Operating Officer

Transfer Agent

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