Education
About Us
Working with TipRanks
Follow Us
Veris Residential (VRE)
NYSE:VRE
Earnings Data
Report Date
Jul 23, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-0.05Last Year’s EPS
0.03Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Date:Apr 23, 2025
|% Change Since: -9.33%
|Next Earnings Date:Jul 23, 2025
Earnings Call Sentiment|Neutral
The earnings call revealed a balanced outlook. While Veris Residential demonstrated strong operational performance and strategic progress with asset sales and consolidation efforts, challenges such as market volatility, economic uncertainty, and specific property-level issues like Liberty Towers' occupancy were noted. Financial metrics showed improvement, yet economic conditions pose potential risks.Company Guidance
In the first quarter of 2025, Veris Residential, Inc. reported strong operational and financial performance, maintaining its guidance despite market volatility and economic uncertainty. The company completed $45 million in non-strategic asset sales and entered into contracts for an additional $34 million in land sales, contributing to its goal of selling $300 to $500 million in non-strategic assets over the next 12 to 24 months. Veris also consolidated its partner’s 15% stake in the Jersey City Urby for $38 million, rebranding it to Sable and expecting to achieve $1 million in operational synergies. The company recorded a 3.2% same-store NOI growth, with a blended net rental growth rate of 2.4% and occupancy of 95.3%. Despite potential recession risks and inflationary pressures, the multifamily markets, particularly in the Northeast, showed positive fundamentals, with new lease rental growth at 4.2% in Jersey City Waterfront compared to 3.6% in the broader market. Veris maintained its core FFO guidance at $0.61 to $0.63 per share, reflecting 2% to 5% growth over 2024, and a focus on reducing net debt to EBITDA below nine times by the end of 2026.Positive Start to 2025
Veris Residential reported a strong start to 2025, with progress on corporate plans and solid operational and financial results. $45 million in non-strategic asset sales were completed, with contracts for an additional $34 million of land sales.
Consolidation of Jersey City Urby
Completed consolidation of a partner's 15% stake in Jersey City Urby for $38 million, rebranded as Sable. This transaction is accretive to earnings and expected to generate operational synergies.
Jersey City Market Outperformance
Jersey City assets showed strong performance, with a 4.2% new lease rental growth rate, exceeding the broader market in Jersey City Waterfront.
Increased Blended Net Rental Growth
Blended net rental growth rate increased to 4.8% in April, demonstrating positive leasing trends.
Technological Enhancements
Introduction of a new resident mobile app adopted by over 65% of units, offering improved functionalities and insights into resident engagement.
Stronger Financial Performance
Core FFO per share was $0.16 for the first quarter, higher than expected, showing improvement from the previous quarter and year.
VRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2025 | $16.08 | $15.80 | -1.74% |
Feb 24, 2025 | $15.92 | $16.12 | +1.26% |
Oct 30, 2024 | $16.66 | $16.31 | -2.10% |
Jul 24, 2024 | $15.35 | $15.36 | +0.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Veris Residential (VRE) report earnings?
Veris Residential (VRE) is schdueled to report earning on Jul 23, 2025, TBA Not Confirmed.
What is Veris Residential (VRE) earnings time?
Veris Residential (VRE) earnings time is at Jul 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is VRE EPS forecast?
VRE EPS forecast for the fiscal quarter 2025 (Q2) is -0.05.