Quarterly report [Sections 13 or 15(d)]

VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS

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VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUES    
Total revenues $ 67,756 $ 67,340
EXPENSES    
Real estate taxes 9,212 9,177
Utilities 2,807 2,271
Operating services 10,993 12,570
Property management 4,385 5,242
General and administrative 10,068 11,088
Transaction related costs 308 516
Depreciation and amortization 21,253 20,117
Land and other impairments, net 3,200 0
Total expenses 62,226 60,981
OTHER (EXPENSE) INCOME    
Interest expense (22,960) (21,500)
Interest and other investment income 25 538
Equity in earnings (losses) of unconsolidated joint ventures 3,842 254
Gain (loss) on disposition of developable land (156) 784
Gain (loss) on sale of unconsolidated joint venture interests 0 7,100
Other income (expense), net (105) 255
Total other (expense) income, net (19,354) (12,569)
Income (loss) from continuing operations before income tax expense (13,824) (6,210)
Provision for income taxes (42) (59)
Net income (loss) from continuing operations (13,866) (6,269)
Discontinued operations:    
Income (loss) from discontinued operations 136 252
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 0 1,548
Total discontinued operations, net 136 1,800
Net income (loss) (13,730) (4,469)
Noncontrolling interests in consolidated joint ventures 2,125 495
Redeemable noncontrolling interests (81) (297)
Net income (loss) available to common shareholders $ (10,699) $ (3,903)
Basic earnings per common share:    
Income (loss) from continuing operations (in dollars per share) $ (0.12) $ (0.06)
Discontinued operations (in dollars per share) 0 0.02
Net income (loss) available to common shareholders (in dollars per share) (0.12) (0.04)
Diluted earnings per common share:    
Income (loss) from continuing operations (in dollars per share) (0.12) (0.06)
Discontinued operations (in dollars per share) 0 0.02
Net income (loss) available to common shareholders (in dollars per share) $ (0.12) $ (0.04)
Revenue from leases    
REVENUES    
Total revenues $ 61,965 $ 60,642
Management fees    
REVENUES    
Total revenues 718 922
Parking income    
REVENUES    
Total revenues 3,749 3,745
Other income    
REVENUES    
Total revenues 1,324 2,031
VERIS RESIDENTIAL, L.P.    
REVENUES    
Total revenues 67,756 67,340
EXPENSES    
Real estate taxes 9,212 9,177
Utilities 2,807 2,271
Operating services 10,993 12,570
Property management 4,385 5,242
General and administrative 10,068 11,088
Transaction related costs 308 516
Depreciation and amortization 21,253 20,117
Land and other impairments, net 3,200 0
Total expenses 62,226 60,981
OTHER (EXPENSE) INCOME    
Interest expense (22,960) (21,500)
Interest and other investment income 25 538
Equity in earnings (losses) of unconsolidated joint ventures 3,842 254
Gain (loss) on disposition of developable land (156) 784
Gain (loss) on sale of unconsolidated joint venture interests 0 7,100
Other income (expense), net (105) 255
Total other (expense) income, net (19,354) (12,569)
Income (loss) from continuing operations before income tax expense (13,824) (6,210)
Provision for income taxes (42) (59)
Net income (loss) from continuing operations (13,866) (6,269)
Discontinued operations:    
Income (loss) from discontinued operations 136 252
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 0 1,548
Total discontinued operations, net 136 1,800
Net income (loss) (13,730) (4,469)
Noncontrolling interests in consolidated joint ventures 2,125 495
Redeemable noncontrolling interests (81) (297)
Net income (loss) available to common shareholders $ (11,686) $ (4,271)
Basic earnings per common share:    
Income (loss) from continuing operations (in dollars per share) $ (0.12) $ (0.06)
Discontinued operations (in dollars per share) 0 0.02
Net income (loss) available to common shareholders (in dollars per share) (0.12) (0.04)
Diluted earnings per common share:    
Income (loss) from continuing operations (in dollars per share) (0.12) (0.06)
Discontinued operations (in dollars per share) 0 0.02
Net income (loss) available to common shareholders (in dollars per share) $ (0.12) $ (0.04)
Basic weighted average units outstanding (in shares) 101,690 100,968
Diluted weighted average units outstanding (in shares) 101,690 100,968
VERIS RESIDENTIAL, L.P. | Revenue from leases    
REVENUES    
Total revenues $ 61,965 $ 60,642
VERIS RESIDENTIAL, L.P. | Management fees    
REVENUES    
Total revenues 718 922
VERIS RESIDENTIAL, L.P. | Parking income    
REVENUES    
Total revenues 3,749 3,745
VERIS RESIDENTIAL, L.P. | Other income    
REVENUES    
Total revenues $ 1,324 $ 2,031