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Sep 30, 2025
Veris Residentia Q3 2025 Earnings Report
Veris Residential, Inc. reported its third quarter 2025 results, highlighting significant progress in deleveraging and solid operational performance.
Key Takeaways
Veris Residential, Inc. delivered a strong third quarter in 2025, exceeding its non-strategic asset disposition target and significantly reducing debt. The company also reported solid operational performance with positive blended net rental growth and raised its Core FFO per share guidance for the second consecutive quarter.
Completed or put under contract $542 million in non-strategic asset sales year-to-date, exceeding the initial target.
Reduced debt by $394 million during the third quarter, lowering Net Debt-to-EBITDA (Normalized) to 10.0x.
Achieved a year-over-year Same Store Blended Net Rental Growth Rate of 3.9% for the quarter.
Raised 2025 Core FFO per share guidance to $0.67 to $0.68, representing 12.5% year-over-year growth.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Veris Residential is maintaining its operational guidance for 2025 and raising its Core FFO per share guidance, reflecting successful resolution of real estate tax appeals.
Positive Outlook
- Raised high-end of non-strategic asset disposition guidance to $650 million.
- Anticipates achieving Net Debt-to-EBITDA (Normalized) of around 9.0x upon the sale of Harborside 8/9.
- Positions the Company to potentially delever to below 8x by year-end 2026.
- Raised 2025 Core FFO per share guidance to $0.67 to $0.68.
- Expects Same Store Revenue Growth between 2.2% and 2.7%.
Challenges Ahead
- Same Store Expense Growth is projected between 2.4% and 2.8%.
- Same Store NOI Growth is projected between 2.0% and 2.8%.
- No specific negative forward guidance points were explicitly stated in the provided text.
- No specific negative forward guidance points were explicitly stated in the provided text.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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