Veris Residential (VRE) AI Stock Analysis

• Market Cap: $1.76B
• Dividend Yield: 2.17%
• Average Volume (3M): 777.36K
• Price to Earnings (P/E): 23.5
• Beta (1Y): 0.50
• Revenue Growth: 3.37%
• EPS Growth: N/A
• Country: US
• Employees: 188
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Residential
• EPS (TTM): <0.01
• Shares Outstanding: 93,458,390
• 10 Day Avg. Volume: 1,044,807
• 30 Day Avg. Volume: 777,355
• PEG Ratio: -0.04
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 170.63
• P/FCF Ratio: 685.99
• Enterprise Value/Market Cap: 1.77
• Enterprise Value/Revenue: 382.56
• Enterprise Value/Gross Profit: -11.26
• Enterprise Value/Ebitda: 12.46
• 1Y Price Target: $20.00
• Price Target Upside: 6.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.15
• Revenue Forecast (FY): $282.29M

• Rating: 62 Neutral
• Price Target: $20.00 ▲(6.04% Upside)
• Action: Reiterated Date: 02/24/26
• Date: Action: Reiterated 02/24/26

The score is anchored by mixed financial performance, with improved reported profitability but weak cash flow conversion and questions around earnings quality and leverage history. Technicals are supportive (strong uptrend) but appear overbought, while valuation is only modestly supported by a mid-20s P/E and a sub-2% yield. Earnings-call commentary is a net positive due to raised core FFO guidance and continued deleveraging progress, tempered by market and expense headwinds.

Positive Factors

Deleveraging via asset sales

Large, targeted asset dispositions materially reduced leverage and funded balance-sheet repair. This structural deleveraging lowers interest burden, increases financing optionality and gives management flexibility to reinvest in core multifamily, supporting durable credit stability and reduced refinancing strain.

Revenue growth and margin recovery

Consistent revenue growth with expanding gross margins shows improved pricing power and operating leverage across the portfolio. A sustained rebound to profitability signals the core multifamily business can generate stable cash flows and supports ongoing FFO improvements if occupancy and rent trends persist.

Operational outperformance and ESG leadership

Above-market rent growth plus top-tier GRESB recognition indicate strong operations and differentiated asset management. Sustainable practices and operational execution can enhance resident demand, reduce operating risk and support long-term NOI resilience versus peers in urban multifamily markets.

Negative Factors

Weak cash-flow conversion

Severely weakened cash conversion undermines the company’s ability to internally fund capex, dividends or debt paydown. Reliance on one-time sale gains to report net income creates volatility in distributable cash and increases dependency on external financing or further asset sales for liquidity.

Historical leverage and balance-sheet uncertainty

A history of high leverage in higher-rate periods heightens refinancing and interest-rate sensitivity. The abrupt 2025 debt reset may reflect one-off transactions; without sustained cash generation, the balance sheet remains vulnerable to market swings and limits long-term capital allocation confidence.

Challenging transaction markets & localized demand weakness

Weaker capital markets impede further strategic asset sales and portfolio rebalancing, while local oversupply can cap rent growth and occupancy. These structural headwinds reduce the company’s ability to crystallize value, sustain NOI growth and reliably execute deleveraging without accepting lower sale proceeds.

Veris Residential Business Overview & Revenue Model

Company Description

Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/.

How the Company Makes Money

Veris Residential generates revenue primarily through rental income from its multifamily residential properties. The company owns and operates a portfolio of apartment communities, collecting monthly rents from residents, which constitutes its main revenue stream. Additionally, Veris Residential may earn income from ancillary services offered to residents, such as parking fees, pet fees, and lease renewals. The company also benefits from property appreciation and may engage in strategic asset sales or refinancings to optimize its capital structure. Partnerships with local businesses and service providers can enhance its offerings and attract more residents, contributing to higher occupancy rates and increased revenue.

Veris Residential Financial Statement Overview

Summary

Mixed fundamentals: revenue and profitability improved with a sharp 2025 swing to profit and higher gross margin, but earnings quality is a concern (EBIT near breakeven) and 2025 cash conversion is weak (operating and free cash flow collapsed versus prior years). Balance sheet risk is also mixed, with historically high leverage and a sudden 2025 debt reset that reduces confidence without more context.

Income Statement

Revenue has grown steadily over the last several years, including a strong rebound after the 2021 decline. Profitability has improved meaningfully versus 2020–2024 (moving from sizable losses in prior years to a large profit in 2025), and gross margin expanded sharply in 2025. Offsetting this, earnings quality looks volatile: 2024 was loss-making and 2025 shows very low operating profit relative to revenue (EBIT near breakeven), suggesting the net income strength may not be fully supported by core operations.

Balance Sheet

Leverage was elevated through 2020–2024 (debt-to-equity generally ~1.5–2.0x), which is a key risk for a residential REIT in higher-rate environments. 2025 shows total debt at zero and debt-to-equity at 0.0x, a dramatic improvement, but it is a sharp year-over-year shift versus the historical profile and therefore less confidence-inspiring without more context. Equity has been relatively stable, but prior-year negative returns on equity reflect weak profitability before 2025.

Cash Flow

Cash generation deteriorated in 2025: operating cash flow and free cash flow collapsed to roughly $2.0M, with free cash flow down ~96% versus 2024, despite reported net income turning strongly positive. Earlier years show more robust operating cash flow (generally ~$56M–$85M), but free cash flow has been inconsistent, including large negative free cash flow in 2020 and 2022. Overall, the cash flow profile is volatile and the latest year shows weak cash conversion.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.14M	271.07M	260.30M	213.35M	194.65M
Gross Profit	-276.67M	160.01M	152.95M	114.59M	99.20M
EBITDA	249.90M	140.05M	104.51M	104.90M	-41.23M
Net Income	75.24M	-23.12M	-107.27M	-52.07M	-119.04M
Balance Sheet
Total Assets	2.71B	2.98B	3.24B	3.92B	4.53B
Cash, Cash Equivalents and Short-Term Investments	2.59B	7.25M	28.01M	26.78M	31.75M
Total Debt	1.37B	1.67B	1.86B	1.91B	2.39B
Total Liabilities	1.43B	1.74B	1.94B	2.01B	2.56B
Stockholders Equity	1.27B	1.10B	1.14B	1.24B	1.28B
Cash Flow
Free Cash Flow	2.02M	46.38M	45.21M	-115.53M	-8.99M
Operating Cash Flow	2.02M	64.75M	57.61M	66.45M	56.12M
Investing Cash Flow	445.43M	134.13M	32.18M	220.09M	446.23M
Financing Cash Flow	-516.35M	-229.15M	-82.86M	-290.35M	-503.19M

Veris Residential Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 18.86
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VRE, the sentiment is Positive. The current price of 18.86 is above the 20-day moving average (MA) of 16.47, above the 50-day MA of 15.48, and above the 200-day MA of 14.98, indicating a bullish trend. The MACD of 0.86 indicates Negative momentum. The RSI at 82.30 is Negative, neither overbought nor oversold. The STOCH value of 98.13 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VRE.

Veris Residential Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UMH	71 Outperform	$1.38B	212.47	3.02%	5.66%	8.91%	-39.58%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
VRE	62 Neutral	$1.76B	23.46	5.33%	2.17%	3.37%	―
IRT	57 Neutral	$4.07B	69.41	1.64%	3.88%	0.84%	―
BRT	52 Neutral	$276.56M	-28.01	-4.89%	6.98%	1.62%	11.38%
NXRT	51 Neutral	$736.26M	-23.03	-12.63%	7.06%	-4.46%	-206.19%
AIV	45 Neutral	$803.94M	-5.74	171.00%	7.42%	-4.63%	42.39%

Veris Residential Corporate Events

Veris Residential Agrees to Go-Private All-Cash Acquisition

On February 23, 2026, Veris Residential agreed to be acquired in an all-cash merger by a consortium led by Affinius Capital in partnership with Vista Hill Partners, valuing the company at an implied enterprise value of $3.4 billion. The deal will see Veris shareholders receive $19.00 per share in cash, a premium of more than 23% to the company’s unaffected February 4, 2026 closing price, and will also cash out common units in its operating partnership at the same per‑unit price.

The transaction, unanimously approved by Veris’s board after a multi-year strategic shift away from office assets and a formal review of alternatives, is expected to close in the second quarter of 2026, subject to shareholder approval and customary conditions. It will take Veris private and lead to the delisting of its NYSE-listed stock, while existing equity and incentive awards are converted into cash, executive contracts are amended to clarify severance-linked bonus payments, and the company terminates its at-the-market equity program and long-standing dividend reinvestment plan, signaling a full capital-structure reset under new ownership.

Bow Street LLC, which manages funds holding about 5.6% of Veris’s shares, has agreed to support the merger, underscoring institutional backing for the sale. Financing will combine equity commitments from sponsors with a $2.08 billion committed bridge loan facility, and reciprocal termination fees up to $140 million create strong incentives for both sides to close the deal on the agreed terms.

The most recent analyst rating on (VRE) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Veris Residential stock, see the VRE Stock Forecast page.

Veris Residential Agrees to Go-Private All-Cash Acquisition

On February 23, 2026, Veris Residential agreed to be acquired in an all-cash merger by a consortium led by Affinius Capital in partnership with Vista Hill Partners, valuing the company at an implied enterprise value of $3.4 billion. The deal will see Veris shareholders receive $19.00 per share in cash, a premium of more than 23% to the company’s unaffected February 4, 2026 closing price, and will also cash out common units in its operating partnership at the same per‑unit price.

The transaction, unanimously approved by Veris’s board after a multi-year strategic shift away from office assets and a formal review of alternatives, is expected to close in the second quarter of 2026, subject to shareholder approval and customary conditions. It will take Veris private and lead to the delisting of its NYSE-listed stock, while existing equity and incentive awards are converted into cash, executive contracts are amended to clarify severance-linked bonus payments, and the company terminates its at-the-market equity program and long-standing dividend reinvestment plan, signaling a full capital-structure reset under new ownership.

Bow Street LLC, which manages funds holding about 5.6% of Veris’s shares, has agreed to support the merger, underscoring institutional backing for the sale. Financing will combine equity commitments from sponsors with a $2.08 billion committed bridge loan facility, and reciprocal termination fees up to $140 million create strong incentives for both sides to close the deal on the agreed terms.

The most recent analyst rating on (VRE) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Veris Residential stock, see the VRE Stock Forecast page.

Veris Residential Posts Strong 2025 Turnaround, Hikes Dividend

Veris Residential reported fourth-quarter and full-year 2025 results on February 23, 2026, posting a sharp turnaround in profitability, with full-year net income of $0.80 per diluted share versus a loss in 2024 and Core FFO rising over 20% to $0.72, above guidance. Same Store NOI grew 5.9% in the quarter and 2.7% for the year, margins held near 68%, controllable expenses declined, occupancy remained in the mid‑90% range even as Liberty Towers underwent renovation, and the dividend was increased to $0.32 for 2025.

Management continued to reshape the portfolio and balance sheet in 2025 by completing $542 million of non-strategic asset sales, including the final Jersey City land parcels, and using proceeds to cut debt by about $490 million, reducing Net Debt-to-EBITDA (Normalized) to 9.0x from 11.7x a year earlier. The company also acquired its partner’s interest in the Jersey City Urby joint venture in the second quarter, rebranding the asset as Sable and realizing roughly $1 million of annualized synergies, underscoring its strategic focus on core multifamily holdings and enhanced operating efficiency.

The most recent analyst rating on (VRE) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Veris Residential stock, see the VRE Stock Forecast page.