Veris Residential, Inc.

Listed Company

VRECIK 0000924901NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$288.43M

Net Income

$75.24M

Total Assets

$2.71B

Equity

$1.15B

Shares Out

93.84M

Op. Cash Flow

$75.97M

VRE$19.00+26.93% · past yearDBEQ Basic

Daily closing prices

Business

Veris Residential, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that owns, operates and develops multifamily rental properties and holds non‑strategic land and commercial assets. It offers Class A multifamily residences with premium amenities (clubrooms, fitness centers, dog parks, rooftop pools, EV charging) and resident services (concierge, curated events), plus development, asset management and sustainability reporting services. The company operates through wholly owned properties and unconsolidated joint venture investments as its primary business segments. Its properties and leasing operations are concentrated in the Northeast United States and the District of Columbia, with direct leasing, in‑house management and joint‑venture channels.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	288	271	260	213	195
Real estate taxes	38	37	35	34	29
Utilities	9	8	8	7	8
Operating services	48	48	51	47	45
Property management	17	17	14	11	—
General and administrative	37	39	44	56	57
Transaction-related costs	4	2	8	3	—
Depreciation and amortization	86	83	86	78	69
Land and other impairments, net	18	3	9	9	24
Total expenses	257	237	255	245	257
Interest expense	−89	−88	−89	−66	−48
Interest cost of mandatorily redeemable noncontrolling interests	0	0	−50	0	0
Interest and other investment income	370,000	2	6	729,000	524,000
Equity in earnings (losses) of unconsolidated joint ventures	5	4	3	1	−4
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net	91	0	0	0	3
Gain (loss) on disposition of developable land	34	12	7	57	2
Gain (loss) on sale of unconsolidated joint venture interests	5	7	0	0	−2
Gain (loss) from extinguishment of debt, net	−4	−777,000	−6	−129,000	−47
Other income (expense), net	148,000	−701,000	3	0	0
Total other income (expense), net	44	−65	−126	−7	−95
Income (loss) from continuing operations before income tax expense	75	−31	−121	−39	−157
Provision for income taxes	−231,000	−276,000	−492,000	0	0
Income (loss) from continuing operations after income tax expense	75	−31	−121	−39	−157
Income (loss) from discontinued operations	4	862,000	−33	−65	22
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net	0	3	42	69	26
Total discontinued operations, net	4	4	9	4	48
Net income (loss)	79	−27	−112	−35	−110
Noncontrolling interests in consolidated joint ventures	4	2	2	3	5
Noncontrolling interests in Operating Partnership of loss (income) from continuing operations	−7	3	11	6	16
Noncontrolling interests in Operating Partnership in discontinued operations	−347,000	−371,000	−779,000	−414,000	−4
Redeemable noncontrolling interests	−324,000	−540,000	−8	−26	−26
Net income (loss) available to common shareholders	75	−23	−107	−52	−119
Income (loss) from continuing operations (in dollars per share)	0.77	−0.29	−1.31	−0.68	−1.87
Discontinued operations (in dollars per share)	0.04	0.04	0.09	0.05	0.48
Net income (loss) available to common shareholders (in dollars per share)	0.81	−0.25	−1.22	−0.63	−1.39
Income (loss) from continuing operations (in dollars per share)	0.76	−0.29	−1.31	−0.68	−1.87
Discontinued operations (in dollars per share)	0.04	0.04	0.09	0.05	0.48
Net income (loss) available to common shareholders (in dollars per share)	0.8	−0.25	−1.22	−0.63	−1.39
Basic weighted average shares outstanding (in shares)	93	93	92	91	91
Diluted weighted average shares outstanding (in shares)	102	101	101	100	100

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land and leasehold interests	377	459	474	492	495
Buildings and improvements	2,584	2,634	2,782	3,332	3,375
Tenant improvements	17	15	31	123	107
Furniture, fixtures and equipment	119	112	104	99	100
Gross investment in rental property	3,097	3,220	3,391	4,046	4,077
Less accumulated depreciation and amortization	−516	−433	−444	−632	−583
Total investment in rental property	2,580	2,788	2,948	3,414	3,493
Real estate held for sale, net	0	7	59	194	619
Net investment in rental property	2,580	2,795	3,006	3,608	4,112
Cash and cash equivalents	14	7	28	27	32
Restricted cash	15	17	27	21	20
Investments in unconsolidated joint ventures	52	111	118	126	138
Unbilled rents receivable, net	4	2	6	40	72
Deferred charges and other assets, net	41	48	54	96	151
Accounts receivable	911,000	1	3	3	2
Total assets	2,707	2,983	3,241	3,921	4,527
Revolving credit facility and term loans	30	349	0	0	148
Mortgages, loans payable and other obligations, net	1,332	1,323	1,854	1,904	2,241
Dividends and distributions payable	9	9	6	—	—
Accounts payable, accrued expenses and other liabilities	45	43	55	72	135
Rents received in advance and security deposits	11	12	15	23	26
Accrued interest payable	5	5	7	7	6
Total liabilities	1,432	1,740	1,936	2,006	2,557
Commitments and contingencies	—	—	—	—	—
Redeemable noncontrolling interests	9	9	25	515	521
Common stock, $0.01 par value, 190,000,000 shares authorized, 92,229,424 and 91,141,649 shares outstanding	934,000	929,000	922,000	911,000	909,000
Additional paid-in capital	2,573	2,564	2,553	2,532	2,530
Dividends in excess of net earnings	−1,421	−1,466	−1,418	−1,301	−1,249
Accumulated other comprehensive income (loss)	−687,000	154,000	2	4	9,000
Total Veris Residential, Inc. stockholders equity	1,152	1,099	1,137	1,236	1,282
Operating Partnership	106	103	107	126	127
Consolidated joint ventures	8	31	35	38	40
Total noncontrolling interests in subsidiaries	114	134	142	164	167
Total equity	1,266	1,233	1,280	1,399	1,449
Total liabilities and equity	2,707	2,983	3,241	3,921	4,527

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization, including related intangible assets	86	83	86	78	69
Amortization of directors deferred compensation stock units	468,000	394,000	394,000	440,000	314,000
Amortization of stock compensation	12	13	20	14	11
Amortization of deferred financing costs and derivative premiums	9	11	4	4	4
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net	−91	0	0	0	−3
Land and other impairments, net	18	3	9	9	24
Gain on insurance proceeds	0	0	−3	0	0
Decrease (Increase) in unbilled rents receivable, net	−996,000	−695,000	2	3	−2
Decrease (Increase) in deferred charges and other assets	3	5	3	−5	−1
Decrease (Increase) in accounts receivable, net	326,000	165,000	−62,000	−36,000	157,000
(Decrease) Increase in accounts payable, accrued expenses and other liabilities	2	−5	−4	2	−8
(Decrease) Increase in rents received in advance and security deposits	−1	−326,000	633,000	3	1
(Decrease) Increase in accrued interest payable	−231,000	−1	42,000	2	280,000
Net cash flows provided by (used in) operating activities - continuing operations	71	54	42	14	−3
Net cash flows provided by (used in) operating activities - discontinued operations	5	−2	3	53	59
Net cash provided by (used in) operating activities	76	52	46	66	56
Rental property additions and improvements	−31	−18	−12	−17	−42
Development of rental property and other related costs	−7	−6	−8	−46	−155
Purchase of unconsolidated joint venture interest, net of cash acquired	−36	0	0	—	—
Proceeds from the sales of developable land	163	89	23	153	52
Proceeds from the sales of rental property	340	0	0	—	—
Proceeds from the sales of investments in unconsolidated joint ventures	7	6	0	0	4
Repayment of notes receivable	0	32,000	1	3	7
Investment in unconsolidated joint ventures	0	−276,000	−762,000	−162,000	−1
Distributions in excess of cumulative earnings from unconsolidated joint ventures	10	12	12	13	16
Proceeds from insurance settlements	0	0	4	0	0
Other investing activities	0	250,000	1	0	0
Net cash provided by (used in) investing activities - continuing operations	445	83	20	−24	−119
Net cash provided by (used in) investing activities - discontinued operations	0	79	560	244	565
Net cash provided by (used in) investing activities	445	162	580	220	446
Borrowings from revolving credit facility	248	174	81	102	196
Repayments of revolving credit facility	−370	−22	−81	−250	−73
Borrowings from term loans	0	200	115	0	150
Repayments of term loans	−200	0	−115	0	−150
Proceeds from mortgages and loans payable	0	0	400	155	226
Repayments of mortgages, loans payable and other obligations	−135	−535	−442	−246	−193
Redemptions of redeemable noncontrolling interests, net	0	−16	−535	−12	0
Payments of early debt extinguishment costs	0	0	−255,000	−5	−50
Common unit redemptions	−456,000	0	−142,000	−3	−898,000
Payments of financing costs and derivative premiums, net	−2	−17	−16	−6	−9
Contributions from noncontrolling interests	225,000	203,000	84,000	24,000	207,000
Distributions to noncontrolling interests	−20	−2	−409,000	0	0
Distributions to redeemable noncontrolling interests	−324,000	−545,000	−17	−26	−26
Payments of common dividends and distributions	−33	−24	−5	−61,000	−475,000
Share issuance proceeds (costs), net	0	2	−540,000	0	0
Payments for taxes related to the net share settlement of stock compensation awards	−4	−4	−603,000	—	—
Net cash provided by (used in) financing activities	−516	−245	−618	−290	−503
Net increase (decrease) in cash and cash equivalents	5	−30	7	−4	—
Mortgage and loans payable assumed in real estate acquisitions	181	0	0	—	—
Mortgage and loans payable assigned through sales of rental property	−41	0	0	—	—

Filings

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Frequently asked questions

What is Veris Residential, Inc.'s CIK number?

Veris Residential, Inc.'s SEC CIK number is 0000924901 (924901). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Veris Residential, Inc.'s SEC filings?

All of Veris Residential, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Veris Residential, Inc. last report earnings?

Veris Residential, Inc. (VRE) most recently filed an earnings 8-K with the SEC on Feb 23, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-010382). This is Veris Residential, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Veris Residential, Inc.'s most recent earnings 8-K?

Veris Residential, Inc.'s latest earnings 8-K (Item 2.02) was filed Feb 23, 2026 under accession 0001628280-26-010382. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Veris Residential, Inc.'s latest earnings 8-K →
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