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Sep 30, 2022
Veris Residentia Q3 2022 Earnings Report
Veris Residential experienced a net loss, but same store NOI increased and strategic asset sales progressed.
Key Takeaways
Veris Residential reported a net loss per diluted share of $(1.10) for Q3 2022. However, the company saw positive trends in its operating multifamily portfolio, with occupancy at 95.8% and same store NOI increasing by 20.8% year-over-year. Veris Residential entered into an agreement to sell Harborside 1, 2, and 3 for $420 million and completed the sale of 101 Hudson Street for $346 million.
Operating multifamily portfolio was 95.8% occupied.
Same Store NOI for the operating multifamily portfolio increased 20.8% year-over-year.
Multifamily Blended Net Rental Growth Rate was 20%.
Entered into an agreement to sell Harborside 1, 2, and 3 for $420 million.
Revenue by Geographic Location
Forward Guidance
No explicit forward guidance was provided in the document.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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