Veris Residential reports Q3 core AFFO 19c, consensus 15c

Reports Q3 revenue $73.44M, consensus $73.74M. CEO Mahbod Nia commented, “Q3 marked another period of significant progress advancing Veris Residential’s (VRE) corporate plan, as we seek to continue accelerating our balance sheet transformation while delivering outsized earnings growth. With $542M in non-core asset sales either closed or under contract year to date-exceeding our target for non-strategic asset sales-we are pleased to raise our disposition target to $650M, positioning us to potentially delever to below 8x by year-end 2026. Operationally, we delivered another solid quarter, achieving 3.9% blended net rental growth and further raising our Core FFO guidance to 67c-68c per share, representing year-over-year growth of 12.5%. We remain well positioned to drive continued outperformance for shareholders in 2025 and beyond through disciplined execution, operational efficiency and strategic capital deployment.”