Overview

* Veris Residential ( VRE ) Q3 Core FFO per share beats analyst expectations

* Company sold $542 mln in non-strategic assets to reduce debt

* Raised 2025 Core FFO guidance due to tax appeal refunds

Outlook

* Company raises 2025 Core FFO per share guidance to $0.67-$0.68

* Veris Residential ( VRE ) maintains 2025 operational guidance

* Company raises asset disposition target to $650 mln

Result Drivers

* ASSET SALES - Veris Residential ( VRE ) completed or contracted $542 mln in non-strategic asset sales, aiding debt reduction

* DEBT REDUCTION - Utilized asset sale proceeds to reduce debt by $394 mln during Q3, reducing Net Debt-to-EBITDA to 10.0x

* RENTAL GROWTH - Achieved 3.9% year-over-year Same Store Blended Net Rental Growth Rate for Q3

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Core Beat $0.20 $0.16 (5

FFO Per Analysts

Share )

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the residential reits peer group is "buy"

* Wall Street's median 12-month price target for Veris Residential Inc ( VRE ) is $17.50, about 16.6% above its October 21 closing price of $14.59

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)