Veris Residential Overview
- Year Founded
-
1994
- Status
-
Public
- Employees
-
197
- Stock Symbol
-
VRE
- Investments
-
5
- Share Price
-
$17.54
- (As of Thursday Closing)
Veris Residential General Information
Description
Veris Residential Inc is a fully-integrated, self-administered and self-managed real estate investment trust (REIT). The company owns and operates a real estate portfolio comprised predominantly of multifamily rental properties located mainly in the Northeast and Class A office properties. The company performs substantially all real estate management, leasing, acquisition and development on an in-house basis. The properties are in three states in the Northeast, plus the District of Columbia. The company operates in two industry segments multifamily real estate & services and commercial & other real estate. The majority of revenue is from Multifamily real estate services.
Contact Information
Website
www.verisresidential.comCorporate Office
- 210 Hudson Street
- Suite 400
- Jersey City, NJ 07311
- United States
Corporate Office
- 210 Hudson Street
- Suite 400
- Jersey City, NJ 07311
- United States
Veris Residential Stock Performance
(As of Thursday Closing)
| Stock Price | Previous Close | 52 wk Range | Market Cap | Shares | Average Volume | EPS |
|---|---|---|---|---|---|---|
| $17.54 | $17.72 | $13.06 - $18.18 | $1.63B | 92.9M | 498K | -$0.67 |
Veris Residential Financials Summary
|
In Thousands, USD |
TTM 30-Jun-2024 | FY 2023 31-Dec-2023 | FY 2022 31-Dec-2022 | FY 2021 31-Dec-2021 |
|---|---|---|---|---|
| EV | 3,280,989 | 3,529,932 | 4,354,707 | 4,712,967 |
| Revenue | 279,214 | 279,859 | 233,448 | 194,645 |
| EBITDA | 96,644 | 70,463 | 111,543 | (41,759) |
| Net Income | (60,839) | (107,265) | (52,066) | (119,042) |
| Total Assets | 3,037,925 | 3,241,046 | 3,920,768 | 4,527,318 |
| Total Debt | 1,686,954 | 1,853,897 | 1,903,977 | 2,389,070 |
Veris Residential Valuation & Funding
| Deal Type | Date | Amount | Valuation/ EBITDA |
Post-Val | Status | Debt |
|---|
Veris Residential Comparisons
Industry
Financing
Details
Veris Residential Competitors (29)
| Company Name | Financing Status | Location | Employees | Total Raised | Last Financing Date/Type | Last Financing Amount |
|---|---|---|---|---|---|---|
| Armada Hoffler Properties | Corporation | Virginia Beach, VA | ||||
| Highwoods Properties | Corporation | Raleigh, NC | ||||
| Paramount Group (Real Estate Investment Trusts (REITs)) | Corporation | New York, NY | ||||
| The Taubman Company | Corporate Backed or Acquired | Bloomfield Hills, MI | ||||
| Parkway | Corporate Backed or Acquired | Houston, TX |
Veris Residential Executive Team (19)
| Name | Title | Board Seat |
|---|---|---|
| Mahbod Nia | Chief Executive Officer | |
| Amanda Lombard | Chief Financial Officer, Finance & Chief Accounting Officer, Accounting | |
| Anna Malhari | Chief Operating Officer, Operations | |
| Gwendolyn Marnell | Chief Accounting Officer | |
| Jeff Turkanis | Chief Investment Officer |
Veris Residential Board Members (18)
| Name | Representing | Role | Since |
|---|---|---|---|
| Self | Board Member | ||
| Self | Board Member | ||
| Self | lead independent director | ||
| Self | Board Member | ||
| Self | Independent Board of Director |
Veris Residential Signals
Growth Rate
Growth
Size Multiple
Key Data Points
Similarweb Unique Visitors
Majestic Referring Domains
Veris Residential Investors
| Investor Name | Investor Type | Holding | Investor Since | Participating Rounds | Contact Info |
|---|
Veris Residential Investments & Acquisitions (5)
| Company Name | Deal Date | Deal Type | Deal Size | Industry | Lead Partner |
|---|---|---|---|---|---|
| The Curtis Center | 09-Jun-2014 | Buildings and Property | |||
| Andover Place | 14-Apr-2014 | Buildings and Property | |||
| Roseland Partners (Real Estate Business) | 24-Oct-2012 | Real Estate Services (B2C) | |||
| SL Green Realty (Nonresidential Building Operations) | 29-Apr-2009 | Buildings and Property | |||
| SL Green Realty (Nonresidential Building Operations) | 01-May-2006 | Merger/Acquisition | Buildings and Property |
Veris Residential ESG
Risk Overview
Risk Rating
Updated April, 24, 2024
11.12 | Low Risk
Risk Scale
A lower score indicates better sustainability
Negl
0-10
Low
10-20
Med
20-30
High
30-40
Severe
40+
Exposure
Exposure refers to the extent to which a company is exposed to different material ESG issues
Management
Management is related to actions taken to manage ESG issues
Peers Analysis
Peer performance insights compare the company’s ESG performance to the performance of selected peers to help inform future ESG decisions and drive internal performance improvements.
Global
Covered Companies
of 16,009
Rank
Percentile
Real Estate
Industry
of 1,030
Rank
Percentile
REITs
Subindustry
of 427
Rank
Percentile
Veris Residential Exits (1)
| Company Name | Exit Date | Exit Type | Exit Size | Status | Buyers |
|---|---|---|---|---|---|
| Andover Place | 14-Apr-2014 | Completed |
|
Veris Residential FAQs
-
When was Veris Residential founded?
Veris Residential was founded in 1994.
-
Who is the CEO of Veris Residential?
Mahbod Nia is the CEO of Veris Residential.
-
Where is Veris Residential headquartered?
Veris Residential is headquartered in Jersey City, NJ.
-
What is the size of Veris Residential?
Veris Residential has 197 total employees.
-
What industry is Veris Residential in?
Veris Residential’s primary industry is Buildings and Property.
-
Is Veris Residential a private or public company?
Veris Residential is a Public company.
-
What is Veris Residential’s stock symbol?
The ticker symbol for Veris Residential is VRE.
-
What is the current stock price of Veris Residential?
As of 03-Oct-2024 the stock price of Veris Residential is $17.54.
-
What is the current market cap of Veris Residential?
The current market capitalization of Veris Residential is $1.63B.
-
What is Veris Residential’s current revenue?
The trailing twelve month revenue for Veris Residential is $279M.
-
Who are Veris Residential’s competitors?
Armada Hoffler Properties, Highwoods Properties, Paramount Group (Real Estate Investment Trusts (REITs)), The Taubman Company, and Parkway are some of the 29 competitors of Veris Residential.
-
What is Veris Residential’s annual earnings per share (EPS)?
Veris Residential’s EPS for 12 months was -$0.67.
Data Transparency
-
Meet our data hygiene team
Discover how our experts ensure you’re getting the most accurate financial data in the industry.
Read blog » -
How PitchBook sources data
Our data operations team has logged over 3.5 million hours researching, organizing, and integrating the information you need most.
Discover our process »
