Veris Residential Q4 net loss $0.13/sh, Core FFO $0.11; $100M buyback, $300-500M asset sale plan

Veris Residential, Inc.

2024-FY EPS reported -$0.25 revenue$271,074,000

Net loss per share Q4 $(0.13), FY $(0.25); Core FFO per share $0.11 Q4, $0.60 FY (+13% YoY).
Normalized Same Store NOI grew 7.3% Q4 and 7.9% FY; Same Store occupancy 93.9% (impacted by renovations).
Board approved $100M share repurchase program over 2 years, effective March 26, 2025.
Plans $300-500M asset sales over 12-24 months to fund buyback and repay debt, targeting Net Debt/EBITDA below 9.0x.
2025 guidance: Core FFO $0.61-$0.63/sh; Same Store NOI growth 1.7-2.7%.

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