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Veris Residential, Inc. (VRE) 10-Year Financial Performance & Capital Metrics

VRE • • REIT / Real Estate
Real EstateResidential REITsMultifamily ApartmentsUrban Multifamily Focus
AboutVeris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/.Show more
  • Revenue $271M +4.1%
  • FFO $60M +383.7%
  • FFO/Share 0.59 +382.1%
  • FFO Payout 40.32%
  • FFO per Share 0.59 +382.1%
  • NOI Margin 59.03% +0.5%
  • FFO Margin 22.01% +372.4%
  • ROE -1.82% +72.8%
  • ROA -0.74% +75.2%
  • Debt/Assets 56.07% -2.4%
  • Net Debt/EBITDA 13.77 -18.5%
  • Book Value/Share 12.25 -5.3%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FFO growing 122.0% TTM
  • ✓Sustainable FFO payout ratio of 40.3%
  • ✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-8.19%
5Y-5.3%
3Y11.67%
TTM5.47%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM500.63%

EPS CAGR

10Y-
5Y-
3Y-
TTM531.75%

ROCE

10Y Avg0.85%
5Y Avg0.11%
3Y Avg0.53%
Latest1.4%

Peer Comparison

Urban Multifamily Focus
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Quality & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CLPRClipper Realty Inc.58.77M3.64-14.567.65%-10.4%54.21%
VREVeris Residential, Inc.1.38B14.72-58.884.14%22.09%4.92%3.37%1.35

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+594.88M613.4M616.2M530.61M355.88M313.56M194.65M213.35M260.3M271.07M
Revenue Growth %-0.07%0.03%0%-0.14%-0.33%-0.12%-0.38%0.1%0.22%0.04%
Property Operating Expenses272.19M267.22M254.74M224.15M148.99M141.41M95.44M98.76M107.34M111.06M
Net Operating Income (NOI)+----------
NOI Margin %----------
Operating Expenses+219.55M238.66M256.12M228.84M58.51M195.68M125.48M133.82M130.68M121.83M
G&A Expenses49.15M51.98M50.95M53.99M58.51M73.64M56.98M55.92M44.44M39.06M
EBITDA+74.07M597.42M616.24M361.33M278.11M98.51M42.24M58.67M108.51M120.95M
EBITDA Margin %----------
Depreciation & Amortization+170.4M492.78M510.89M308.28M129.72M122.03M68.53M77.9M86.23M82.77M
D&A / Revenue %----------
Operating Income+-96.33M104.64M105.35M53.05M148.38M-23.52M-26.28M-19.23M22.27M38.18M
Operating Margin %----------
Interest Expense+103.05M94.89M84.52M77.59M90.57M80.99M47.51M66.38M139.14M87.98M
Interest Coverage-0.93x1.10x1.25x0.68x1.64x-0.29x-0.55x-0.29x0.16x0.43x
Non-Operating Income0-120.55M9.98M6.17M133.6M083.48M-46.23M4M-19.1M
Pretax Income+-142.05M130.29M33.72M106.4M252.85M-115.5M-157.26M-39.38M-120.86M-30.7M
Pretax Margin %----------
Income Tax+000137.1M0000492K276K
Effective Tax Rate %----------
Net Income+-125.75M117.22M23.18M84.11M111.86M-55.32M-119.04M-52.07M-107.27M-23.12M
Net Margin %----------
Net Income Growth %-5.4%1.93%-0.8%2.63%0.33%-1.49%-1.15%0.56%-1.06%0.78%
Funds From Operations (FFO)+----------
FFO Margin %----------
FFO Growth %-0.78%12.66%-0.12%-0.27%-0.38%-0.72%-1.76%1.51%-1.81%3.84%
FFO per Share+----------
FFO Payout Ratio %----------
EPS (Diluted)+-1.251.300.060.840.09-1.57-1.39-0.63-1.11-0.25
EPS Growth %-4.91%2.04%-0.95%13%-0.9%-18.92%0.11%0.55%-0.76%0.77%
EPS (Basic)-1.411.310.060.840.10-1.57-1.39-0.63-1.22-0.25
Diluted Shares Outstanding100.22M100.5M100.7M100.72M100.69M90.65M90.84M91.05M100.81M101.38M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+4.06B4.3B4.96B5.06B5.29B5.15B4.53B3.92B3.24B2.98B
Asset Growth %-0.03%0.06%0.15%0.02%0.05%-0.03%-0.12%-0.13%-0.17%-0.08%
Real Estate & Other Assets+3.54B-4.1B-4.72B-4.8B88.46M65.55M3.58B35.86M4.03M2.82B
PP&E (Net)3.34B3.47B4.02B4.21B3.72B4B22.3M3.42B2.95B5.14M
Investment Securities1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Total Current Assets+203.42M235.97M347.18M264.51M1.19B840.69M748.76M329.34M155.16M35.23M
Cash & Equivalents37.08M31.61M28.18M29.63M25.59M38.1M31.75M26.78M28.01M7.25M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets99.05M165.52M001.06B708.61M-9.16M260.1M119.61M17.06M
Intangible Assets10.93M72.05M102.76M89.86M86.09M71.61M42.18M12.3M10.03M9.52M
Total Liabilities2.38B2.57B3.08B3.03B3.09B3.04B2.56B2.01B1.94B1.74B
Total Debt+2.15B2.34B2.81B2.79B2.83B2.83B2.39B1.91B1.86B1.67B
Net Debt2.12B2.31B2.78B2.76B2.81B2.79B2.36B1.88B1.83B1.67B
Long-Term Debt2.15B2.34B1.99B2.79B2.81B2.8B2.24B1.72B1.55B1.32B
Short-Term Borrowings01000K1000K0001000K1000K1000K1000K
Capital Lease Obligations000023.76M23.6M03.23M7.35M0
Total Current Liabilities+379.86M864.14M1.09B1.03B219.95M184.36M315.52M256.49M369.53M416.89M
Accounts Payable135.06M159.87M192.72M168.12M185.75M171.12M134.98M68.81M48.14M42.74M
Deferred Revenue49.74M46.44M43.99M41.24M0026.4M0011.51M
Other Liabilities53.06M-634.07M041.24M39.46M34.1M022.94M14.99M0
Total Equity+1.68B1.73B1.88B2.03B2.2B2.11B1.97B1.91B1.3B1.24B
Equity Growth %-0.11%0.03%0.09%0.08%0.09%-0.04%-0.06%-0.03%-0.32%-0.05%
Shareholders Equity1.46B1.53B1.48B1.49B1.49B1.4B1.28B1.24B1.14B1.1B
Minority Interest228.03M199.52M404.64M540.98M709.16M706.86M688.75M678.88M167.07M142.97M
Common Stock896K897K899K903K906K907K909K911K922K929K
Additional Paid-in Capital2.57B2.58B2.57B2.56B2.54B2.53B2.53B2.53B2.55B2.56B
Retained Earnings-1.12B-1.05B-1.1B-1.08B00-1.25B00-1.47B
Preferred Stock1.12B000000000
Return on Assets (ROA)-0.03%0.03%0.01%0.02%0.02%-0.01%-0.02%-0.01%-0.03%-0.01%
Return on Equity (ROE)-0.07%0.07%0.01%0.04%0.05%-0.03%-0.06%-0.03%-0.07%-0.02%
Debt / Assets0.53%0.54%0.57%0.55%0.54%0.55%0.53%0.49%0.57%0.56%
Debt / Equity1.28x1.36x1.49x1.38x1.29x1.34x1.21x1.00x1.43x1.35x
Net Debt / EBITDA28.59x3.86x4.51x7.65x10.09x28.29x55.80x32.05x16.89x13.77x
Book Value per Share16.8017.1818.6820.1321.8823.2321.6921.0312.9412.25

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+169.46M100.11M196.14M167.07M131.84M85.42M56.12M66.45M57.61M64.75M
Operating CF Growth %0.06%-0.41%0.96%-0.15%-0.21%-0.35%-0.34%0.18%-0.13%0.12%
Operating CF / Revenue %----------
Net Income-142.05M130.29M33.72M106.4M252.55M-115.52M-109.54M-34.88M-78.32M-23.61M
Depreciation & Amortization172.11M186.55M198.67M170.28M128.15M118.34M108.84M111.39M86.23M82.77M
Stock-Based Compensation2.62M6.02M7.93M7.4M8.48M7.93M11.16M14.21M00
Other Non-Cash Items7.17M-9.08M4.33M-10.14M-10.11M3.54M-34.68M-11.29M48.36M8.21M
Working Capital Changes-17.42M-73.25M-37.7M-21.13M-21.84M-19.27M-17.41M-12.97M1.33M-2.63M
Cash from Investing+-222.53M-137.66M-545.71M-168.15M-416.07M28.46M446.23M220.09M32.18M134.13M
Acquisitions (Net)-71.58M-29.51M74.21M-11.79M-4.97M61.81M2.58M7.51M-535.4M-15.5M
Purchase of Investments-160.2M-244.82M-350.95M-196.55M-181.32M-298.85M-212.9M-73.35M-9.16M-6.42M
Sale of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Investing94.65M628.25M-623.54M-156.37M-61.75M290.82M658.13M5.44M564.8M79.33M
Cash from Financing+60.61M32.09M346.13M-17.34M275.85M-102.75M-503.19M-290.35M-82.86M-229.15M
Dividends Paid-59.99M-60.04M-77.83M-94.02M-80.69M-60.53M-475K-61K-5.12M-24.05M
Common Dividends-59.99M-60.04M-77.83M-80.57M-80.69M-60.53M-475K-61K00
Debt Issuance (Net)1000K1000K1000K-1000K1000K-1000K-1000K-1000K-1000K-1000K
Share Repurchases0000-7.77M-2.69M-898K-2.69M-142K0
Other Financing-2.02M-46.3M127.73M80.43M105.3M-30.54M-84.52M-42.76M-18.93M-6.59M
Net Change in Cash+7.53M-5.47M-3.43M-18.42M-8.39M11.14M-847K-3.81M6.93M-30.27M
Exchange Rate Effect0000000011
Cash at Beginning29.55M37.08M31.61M67.97M49.55M41.17M52.3M51.45M47.65M54.58M
Cash at End37.08M31.61M28.18M49.55M41.17M52.3M51.45M47.65M54.58M24.31M
Free Cash Flow+-76.15M-636.3M-513.28M-110.28M-912.44M-70.08M-8.99M-115.53M45.21M46.38M
FCF Growth %-2.88%-7.36%0.19%0.79%-7.27%0.92%0.87%-11.86%1.39%0.03%
FCF / Revenue %----------

Key Ratios

Metric2015201620172018201920202021202220232024
FFO per Share0.456.075.33.92.40.74-0.560.28-0.210.59
FFO Payout Ratio134.35%9.84%14.57%20.53%33.4%90.73%-0.94%0.24%0%40.32%
NOI Margin54.25%56.44%58.66%57.76%58.13%54.9%50.97%53.71%58.76%59.03%
Net Debt / EBITDA28.59x3.86x4.51x7.65x10.09x28.29x55.80x32.05x16.89x13.77x
Debt / Assets53.03%54.46%56.67%55.18%53.51%54.89%52.77%48.64%57.43%56.07%
Interest Coverage-0.93x1.10x1.25x0.68x1.64x-0.29x-0.55x-0.29x0.16x0.43x
Book Value / Share16.817.1818.6820.1321.8823.2321.6921.0312.9412.25
Revenue Growth-6.58%3.11%0.46%-13.89%-32.93%-11.89%-37.92%9.61%22%4.14%

Revenue by Segment

2015201620172018201920202021202220232024
Operating Leases-------284.06M252.14M245.69M
Operating Leases Growth---------11.24%-2.56%
Parking---22.12M21.86M15.6M15M18.56M18.04M15.46M
Parking Growth-----1.18%-28.61%-3.85%23.69%-2.81%-14.27%
Real Estate, Other-------33.31M5.81M6.58M
Real Estate, Other Growth---------82.56%13.29%
Management Fees---------3.34M
Management Fees Growth----------
Real Estate Services---17.09M13.87M11.39M9.6M3.58M3.87M-
Real Estate Services Growth-----18.84%-17.90%-15.75%-62.68%8.01%-
Hotel----9.84M4.29M10.62M15.51M--
Hotel Growth------56.44%147.68%46.03%--
Real Estate Other---11.05M9.22M9.31M11.31M---
Real Estate Other Growth-----16.56%0.97%21.46%---
Rental---436.22M------
Rental Growth----------
Escalations And Recoveries From Tenants---44.12M------
Escalations And Recoveries From Tenants Growth----------
Real Estate Commercial And Other538.32M551.96M522.22M-------
Real Estate Commercial And Other Growth-2.53%-5.39%-------
Multiple Family Real Estate And Services--90.65M-------
Multiple Family Real Estate And Services Growth----------
Corporate And Other--3.32M-------
Corporate And Other Growth----------
Real Estate Multiple Family27.79M35.45M--------
Real Estate Multiple Family Growth-27.58%--------
Multiple Family Services33.11M13.8M--------
Multiple Family Services Growth--58.32%--------

Frequently Asked Questions

Growth & Financials

Veris Residential, Inc. (VRE) reported $285.2M in revenue for fiscal year 2024. This represents a 61% decrease from $724.3M in 2011.

Veris Residential, Inc. (VRE) grew revenue by 4.1% over the past year. Growth has been modest.

Yes, Veris Residential, Inc. (VRE) is profitable, generating $63.0M in net income for fiscal year 2024 (-8.5% net margin).

Dividend & Returns

Yes, Veris Residential, Inc. (VRE) pays a dividend with a yield of 1.61%. This makes it attractive for income-focused investors.

Veris Residential, Inc. (VRE) has a return on equity (ROE) of -1.8%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Veris Residential, Inc. (VRE) generated Funds From Operations (FFO) of $149.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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