Overview
Veris Residential is a fully-integrated, self-administered, and self-managed real estate investment trust (REIT) that primarily owns, operates, acquires, and develops a real estate portfolio comprised predominantly of Class A multi-family rental properties located primarily in the New Jersey, New York, and Massachusetts. The company owns or has interests in about 25 multifamily rental properties containing about 5,535 apartment units as well as non-core
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Read More assets comprised of one office property, four parking/retail properties, plus developable land. The properties are comprised of about 20 wholly-owned or company-controlled properties and eight properties owned by unconsolidated joint ventures in which the company has investment interests, including seven multifamily properties and one non-core asset.
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Read More assets comprised of one office property, four parking/retail properties, plus developable land. The properties are comprised of about 20 wholly-owned or company-controlled properties and eight properties owned by unconsolidated joint ventures in which the company has investment interests, including seven multifamily properties and one non-core asset.
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Mahbod Nia
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Lessors of Real Estate
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Real Estate
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Real Estate and Rental and Leasing
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Real estate investment trusts
Activities Related to Real Estate
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Automotive Equipment Rental and Leasing
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Commercial and Industrial Machinery and Equipment Rental and Leasing
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Consumer Goods Rental
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General Rental Centers
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Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)
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Offices of Real Estate Agents and Brokers
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Modelled
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Actual
$271.07 million
Actual
4.14%
$2,982
DEC
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NYSE:VRE
Contacts
Get in Touch with 7 Principals* and 107 Contacts
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Mahbod NiaChief Executive Officer
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Statements
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Financial data as of December 31, 2024 (12 month period) in USD
Annual Revenue 2024
$271.07 million
USD
Actual
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net Operating Cash | $52 | $46 | $66 |
| Net Investing Cash | $162 | $580 | $220 |
| Net Financing Cash | -$245 | -$618 | -$290 |
| Net Change in Cash | -$30 | $7 | -$4 |
| Cash at Beginning of Period | $55 | $48 | $51 |
| Cash at End of Period | $24 | $55 | $48 |
| Capital Expenditure | $ | $ | $ |
| Assets (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $7 | $28 | $27 |
| Accounts Receivable | $1 | $3 | $3 |
| Inventories | $7 | $59 | $194 |
| Other Current Assets | $19 | $32 | $62 |
| Asset Summary | |||
| Total Current Assets | $35 | $121 | $286 |
| Tangible Fixed Assets | $5 | $6 | $3 |
| Intangible Assets | $10 | $10 | $12 |
| Total Assets | $2,983 | $3,241 | $3,921 |
| Liabilities (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $43 | $55 | $72 |
| Short-Term Debt | $349 | $ | $ |
| Other Current Liabilities | $25 | $27 | $30 |
| Liability Summary | |||
| Total Current Liabilities | $417 | $83 | $102 |
| Long-Term Debt | $1,323 | $1,854 | $1,904 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $1,740 | $1,936 | $2,006 |
| Stakeholder's Equity (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity | |||
| Common Stock | $1 | $1 | $1 |
| Retained Earnings | -$1,466 | -$1,418 | -$1,301 |
| Equity Summary | |||
| Total Equity | $1,099 | $1,137 | $1,236 |
| Shares Outstanding | 92,912,253 | 92,229,424 | 91,141,649 |