Veris Residential Q4 net loss $0.32/sh; Core FFO $0.17; CFO transition, dividend suspended

Veris Residential, Inc.

2021-FY EPS reported -$1.39 revenue$329,317,000

Net loss available to common shareholders $26.3M ($0.32/diluted share) for Q4 2021; full-year loss $119.0M ($1.39/sh).
Core FFO of $17.1M ($0.17/diluted share) for Q4, up from $0.16 year ago; full-year Core FFO $0.68/sh (vs $1.07).
Same Store multifamily NOI increased 21.0% YoY in Q4; operating portfolio 96.6% occupied as of Dec 31, 2021.
Amanda Lombard named CFO effective April 1, 2022; Gwen Marnell to become CAO. Dividend remains suspended.
Executed 15-year, 130,400 sq ft lease with Collectors Universe in Jan 2022; $210M sale of 111 River Street closed.

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