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Mar 31, 2024
Veris Residentia Q1 2024 Earnings Report
Veris Residential reported first quarter results, implementing value-enhancing initiatives and delivering strong financial results.
Key Takeaways
Veris Residential reported a positive start to the year with strong financial results, driven by operational performance and capital recycling initiatives. The company secured a new $500 million credit facility and term loan, addressing debt maturities through 2025 and raised 2024 guidance.
Sold $179 million of non-strategic assets, including the last office asset.
Secured a new $500 million revolving credit facility and term loan package.
Same Store multifamily Blended Net Rental Growth Rate of 4.6%.
Same Store NOI growth of over 14% YOY and 4% sequentially.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
As a result of the anticipated earnings impact of the Company`s new credit facilities and associated debt reduction, the Company is raising its Core FFO per Share guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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