tiprankstipranks
Veris Residential Reports Strong Q3 2024 Financial Progress
Company Announcements

Veris Residential Reports Strong Q3 2024 Financial Progress

Don't Miss our Black Friday Offers:

The latest announcement is out from Veris Residential ( (VRE) ).

Veris Residential, Inc., a multifamily REIT, reported significant progress in the third quarter of 2024 with a 17% year-over-year increase in Core FFO per share, driven by robust property demand and controlled expenses despite inflation. The company raised its full-year guidance due to favorable expense resolutions and unexpected revenue growth, with Core FFO guidance increased by over 13% and Same Store NOI guidance up by 240 basis points. Additionally, Veris reduced net debt by $227 million and refinanced $531 million of mortgage debt, with no maturities until 2026.

See more data about VRE stock on TipRanks’ Stock Analysis page.

Related Articles
TipRanks Auto-Generated NewsdeskVeris Residential to Present at NAREIT REITweek 2024
TheFlyBofA hikes Veris Residential estimates to ‘Street high,’ upgrades to Buy
TheFlyVeris Residential upgraded to Buy from Neutral at BofA
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App