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Veris Residential, Inc. is a forward-thinking real estate investment trust (REIT) that primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast. Our technology-enabled, vertically integrated operating platform delivers a contemporary living experience aligned with residents' preferences while positively impacting the communities we serve. We are guided by an experienced management team and Board of Directors, underpinned by leading corporate governance principles; a best-in-class approach to operations; and an inclusive culture based on meritocratic empowerment.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $288M | $250M | $75M | $76M | 6.5% | 6.4% | -425.4% |
| 2024 | $271M | $140M | $-23M | $52M | -2.1% | 4.1% | -78.4% |
| 2023 | $260M | $105M | $-107M | $46M | -9.4% | 22.0% | 106.0% |
| 2022 | $213M | $105M | $-52M | $66M | -4.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 288.43 |
| Operating Revenue | 282.85 |
| Cost Of Revenue | 112.29 |
| Gross Profit | 176.15 |
| Operating Expense | 123.02 |
| Selling General And Administration | 36.75 |
| Total Expenses | 235.30 |
| Operating Income | 53.13 |
| EBITDA | 249.90 |
| Normalized EBITDA | 145.17 |
| EBIT | 163.64 |
| Interest Income | 0.37 |
| Interest Expense | 88.58 |
| Net Interest Income | -88.21 |
| Other Non Operating Income Expenses | 0.15 |
| Other Income Expense | 110.13 |
| Interest Income Non Operating | 0.37 |
| Interest Expense Non Operating | 88.58 |
| Net Non Operating Interest Income Expense | -88.21 |
| Pretax Income | 75.06 |
| Tax Provision | 0.23 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0.32 |
| Net Income Continuous Operations | 74.83 |
| Net Income From Continuing And Discontinued Operation | 75.24 |
| Net Income From Continuing Operation Net Minority Interest | 71.12 |
| Net Income | 75.24 |
| Net Income Common Stockholders | 75.24 |
| Net Income Including Noncontrolling Interests | 78.94 |
| Normalized Income | -33.28 |
| Diluted NI Availto Com Stockholders | 75.24 |
| Basic Average Shares | 93.36 |
| Diluted Average Shares | 102.36 |
| Reconciled Depreciation | 86.24 |
| Reconciled Cost Of Revenue | 112.30 |
| Total Unusual Items | 104.73 |
| Total Unusual Items Excluding Goodwill | 104.73 |
| Minority Interests | -3.70 |
| Net Income Discontinuous Operations | 4.12 |
| Special Income Charges | 70.69 |
| Gain On Sale Of Business | 5.12 |
| Other Special Charges | 3.53 |
| Impairment Of Capital Assets | 17.98 |
| Restructuring And Mergern Acquisition | 3.75 |
| Gain On Sale Of Security | 34.04 |
| Depreciation Amortization Depletion Income Statement | 86.26 |
| Depreciation And Amortization In Income Statement | 86.26 |
| General And Administrative Expense | 36.75 |
| Other Gand A | 36.75 |
| Gain On Sale Of Ppe | 90.83 |
| Earnings From Equity Interest | 5.26 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Veris Residential, Inc.this co. | VRE | $1.9B | 25.83↑ premium | 1.69 | 6.5% | 13.17 |
| Sunstone Hotel Investors, Inc. | SHO | $2.1B | 87.20 | 1.29 | 1.5% | 14.19 |
| Diversified Healthcare Trust | DHC | $2.1B | -7.28 | 1.25 | -17.2% | 30.06 |
| Pebblebrook Hotel Trust | PEB | $1.9B | -29.01 | 0.77 | -2.7% | 15.31 |
| NETSTREIT Corp. | NTST |
| - |
| - |
| - |
| - |
| - |
| - |
| $1.9B |
| 276.42 |
| 1.32 |
| 0.5% |
| 21.45 |
| American Assets Trust, Inc. | AAT | $1.9B | 25.93 | 1.61 | 6.2% | 12.35 |
| Xenia Hotels & Resorts, Inc. | XHR | $1.8B | 28.34 | 1.58 | 5.6% | 10.77 |
| LTC Properties, Inc. | LTC | $1.8B | 15.12 | 1.66 | 11.0% | 13.24 |
| SmartStop Self Storage REIT, Inc. | SMA | $1.7B | -1100.86 | 1.44 | -0.1% | 20.61 |
| Peer Median | - | 20.53 | 1.38 | 1.0% | 14.75 | |