Veris Residential Q3 net loss of $1.10/share; same-store NOI up 20.8%; signs $420M office sale

Veris Residential, Inc.

2022-Q3 EPS reported -$0.98 revenue$268,815,000

Net loss of $101.2M ($1.10 per share) vs $28.3M loss ($0.33) a year ago; core FFO $0.15 per share vs $0.17.
Same-store multifamily NOI rose 20.8% YoY; occupancy 95.7% as of Sept 30; blended net rental growth 19%.
Signed agreement to sell Harborside 1-3 for $420M, expected to release ~$350M net proceeds; closed 101 Hudson sale for $346M in Oct.
Haus25 lease-up: 83% leased, 76% occupied as of Oct 30, contributed $2.9M NOI in Q3.
90% of total debt hedged/fixed at 4.1% weighted avg rate; purchased 1-yr LIBOR cap on Haus25 loan.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Veris Residential, Inc. reported the third quarter 2022 results: net income $(101.2) million, EPS $(1.10) per share.

Period: the third quarter 2022
Net income: $(101.2) million
EPS: $(1.10) per share
Result: reported results

Exact text from the filing

Net income (loss) available to common shareholders for the quarter ended September 30, 2022 was $(101.2) million, or $(1.10) per share

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Source: SEC EDGAR

accession 0000924901-22-000021

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