Veris Residential Q2 net income $0.25/sh; Same Store NOI up 28% YoY; Haus25 66% leased

Veris Residential, Inc.

2022-Q2 EPS reported $0.12 revenue$177,459,000

Net income $0.25 per diluted share vs $(0.81) loss in Q2 2021; Core FFO $0.15 per share flat YoY.
Same Store NOI for operating multifamily portfolio increased 28.0% YoY and 8.2% QoQ; Blended Net Rental Growth 21%.
Haus25 in Jersey City 66% leased (494 leases signed since April 6, 2022).
Acquired The James (240 units, Park Ridge, NJ) for $129.6M post-quarter; dispositions under contract for $132.25M (Hyatt Hotel and 23 Main).
Refinanced RiverHouse 9 with $110M floating-rate loan (SOFR+1.21%, 2-year cap at 3.0%); 76% of debt fixed/hedged, weighted avg maturity 5 years.

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