Education
About Us
Working with TipRanks
Follow Us
Veris Residential (VRE)
NYSE:VRE
Earnings Data
Report Date
May 01, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.09Last Year’s EPS
-0.04Same Quarter Last Year
Based on 3 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Feb 24, 2025
|% Change Since: 4.37%
|Next Earnings Date:May 01, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive trajectory for Veris Residential, with strong operational and financial results, strategic debt management, and a proactive plan for asset sales. However, challenges remain with the multifamily investment market and the share price not reflecting intrinsic value.Company Guidance
During the Veris Residential, Inc. fourth quarter and full year 2024 earnings call, CEO Mahbod Nia outlined the company's strategic plan for 2025, which includes the proposed sale of $300 million to $500 million in select assets. This initiative aims to achieve strong pricing close to intrinsic value and will drive earnings accretion. The proceeds are intended for stock buyback, valued up to $100 million, and debt reduction to lower leverage below nine times. The call highlighted Veris's strong 2024 performance, with notable metrics including a 6.9% NOI growth, a 13% increase in core FFO, and a 60% rise in dividends. Additional achievements include refinancing over $526 million in mortgages and reducing indebtedness by $180 million, leaving no consolidated debt maturities until 2026. The company anticipates continued operational excellence and market leadership, supported by a robust balance sheet and strategic investments in property upgrades.Record NOI and FFO Growth
Veris Residential reported a NOI growth of 6.9% for the full year 2024 and a blended net rental growth of 4%. This contributed to a 13% increase in core FFO compared to 2023 and a 38% increase compared to 2022.
Successful Debt Management
Refinanced over $526 million of mortgages, reducing indebtedness by over $180 million. No consolidated debt maturities until 2026.
Strong Dividend Increase
The company raised its dividend by approximately 60% year-over-year, reflecting the strong financial performance.
Innovation and Efficiency in Operations
Operational margin improved to 66.8%, and the introduction of AI-driven solutions like PRISM and AI team members contributed to a 2% reduction in payroll expenses.
Strategic Asset Sales Plan
Plan to sell $300 million to $500 million of select assets, with proceeds used for stock buybacks and debt reduction. Expected to achieve strong pricing at or near intrinsic value.
---
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 |
|---|---|---|---|
| Feb 24, 2025 | $16.00 | $16.20 | +1.25% |
| Oct 30, 2024 | $16.74 | $16.39 | -2.09% |
| Jul 24, 2024 | $15.42 | $15.43 | +0.06% |
| Apr 24, 2024 | $14.88 | $14.46 | -2.82% |
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 May 01, 2025, TBA Not Confirmed.
What is Veris Residential (VRE) earnings time?
Veris Residential (VRE) earnings time is at May 01, 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 (Q1) is -0.09.
---