Veris Residential Q1 Core FFO $0.16; acquires Sable JV stake; dividend raised 52%

Veris Residential, Inc.

2025-Q1 EPS reported -$0.12 vs consensus -$0.10 ▼ miss (-25.0%)

Net loss per diluted share $(0.12) vs $(0.04); Core FFO per share $0.16 vs $0.14 YoY.
Same Store NOI up 3.2% YoY to $50.9M; blended rental growth 2.4%; occupancy 94.0%.
$45M non-strategic asset sales closed YTD; $34M under binding contract; bought 15% Sable JV stake for $38.5M, consolidating property.
Dividend raised to $0.08/share from $0.0525 (up 52%); $100M buyback program announced, no shares repurchased to date.
2025 guidance maintained: Core FFO $0.61-$0.63 per share; net debt/EBITDA improved to 11.4x from 11.7x.

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