The company maintains a moderate leverage profile with a debt-to-equity ratio of 1.09 and total debt of $1.4B as of 2026Q1, supported by a substantial cash reserve of $2.6B.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Assets | 2.68B | 2.71B | 2.98B | 3.24B | 3.92B | 4.53B | 5.15B | 5.29B | 5.06B | 4.96B | 4.3B | 4.06B | 4.19B | 4.52B | 4.53B | 4.3B | 4.36B | 4.72B | 4.44B | 4.59B | 4.42B | 4.25B | 3.85B | 3.75B | 3.8B | 3.75B | 3.68B | 3.63B | 3.45B | 2.59B | 1.03B |
| Asset Growth % | -22.65% | -9.25% | -7.97% | -17.34% | -13.4% | -12.05% | -2.74% | 4.59% | 2.07% | 15.39% | 5.74% | -3.07% | -7.16% | -0.24% | 5.36% | -1.53% | -7.61% | 6.25% | -3.25% | 3.85% | 4.13% | 10.32% | 2.68% | -1.23% | 1.33% | 1.9% | 1.31% | 5.14% | 33.11% | 152.69% | 182.04% |
| Real Estate & Other Assets | 35.94M | 2.61B | 2.82B | 4.03M | 35.86M | 3.58B | 65.55M | 88.46M | -4.8B | -4.72B | -4.1B | 3.54B | 3.68B | 3.88B | 4.06B | 0 | 0 | -35.68M | 0 | -4.16B | -3.94B | -3.83B | -3.59B | -3.46B | -3.59B | -3.17B | -3.5B | -3.49B | -3.36B | -2.53B | -784.74M |
| PP&E (Net) | 0 | 0 | 5.14M | 2.95B | 3.42B | 22.3M | 4B | 3.72B | 4.21B | 4.02B | 3.47B | 3.34B | 3.54B | 3.73B | 3.9B | 3.87B | 3.94B | 4.03B | 3.92B | 3.98B | 3.78B | 3.77B | 3.54B | 3.41B | 3.41B | 3.03B | 3.39B | 3.4B | 3.29B | 2.53B | 784.74M |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 |
| Total Current Assets | 2.58B | 33.91M | 35.23M | 155.16M | 329.34M | 748.76M | 840.69M | 1.19B | 264.51M | 347.18M | 235.97M | 203.42M | 250.57M | 436.31M | 314.22M | 393.14M | 390.51M | 688.65M | 382.43M | 4.11B | 3.98B | 3.92B | 3.63B | 157.44M | 3.48B | 78.83M | 71.92M | 68.73M | 50.77M | 41.13M | 226.59M |
| Cash & Equivalents | 9.41M | 14.13M | 7.25M | 28.01M | 26.78M | 31.75M | 38.1M | 25.59M | 29.63M | 28.18M | 31.61M | 37.08M | 29.55M | 221.71M | 58.24M | 20.5M | 21.85M | 291.06M | 21.62M | 24.72M | 101.22M | 60.4M | 12.27M | 78.38M | 1.17M | 12.84M | 13.18M | 8.67M | 5.81M | 2.7M | 204.81M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 0 | -2.56B | 17.06M | 119.61M | 260.1M | -9.16M | 708.61M | 1.06B | 0 | 0 | 165.52M | 99.05M | 34.24M | 47.38M | 19.34M | 0 | 229.35M | 213.67M | 225.14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 9M | 9.52M | 10.03M | 12.3M | 42.18M | 71.61M | 86.09M | 89.86M | 102.76M | 72.05M | 10.93M | 6.57M | 13.66M | 19.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 1.43B | 1.43B | 1.74B | 1.94B | 2.01B | 2.56B | 3.04B | 3.09B | 3.03B | 3.08B | 2.57B | 2.38B | 2.31B | 2.6B | 2.46B | 2.14B | 2.32B | 2.58B | 2.48B | 2.49B | 2.41B | 2.34B | 1.88B | 1.78B | 1.91B | 1.87B | 1.77B | 1.65B | 1.53B | 1.06B | 297.99M |
| Total Debt | 1.37B | 1.37B | 1.67B | 1.86B | 1.91B | 2.39B | 2.83B | 2.83B | 2.79B | 2.81B | 2.34B | 2.15B | 2.09B | 2.36B | 2.2B | 1.91B | 2.09B | 2.34B | 2.23B | 2.21B | 2.16B | 2.13B | 1.7B | 1.63B | 1.75B | 1.7B | 1.63B | 1.49B | 1.42B | 972.65M | 268.01M |
| Net Debt | 1.36B | 1.35B | 1.67B | 1.83B | 1.88B | 2.36B | 2.79B | 2.81B | 2.76B | 2.78B | 2.31B | 2.12B | 2.06B | 2.14B | 2.15B | 1.89B | 2.07B | 2.05B | 2.2B | 2.19B | 2.06B | 2.07B | 1.69B | 1.55B | 1.75B | 1.69B | 1.62B | 1.48B | 1.42B | 969.95M | 63.2M |
| Long-Term Debt | 1.04B | 948.91M | 1.32B | 1.55B | 1.72B | 2.24B | 2.8B | 2.81B | 2.79B | 1.99B | 2.34B | 2.15B | 2B | 1.99B | 1.72B | 1.69B | 2.09B | 1.99B | 2.23B | 2.21B | 2.16B | 2.13B | 1.7B | 1.63B | 1.75B | 1.7B | 1.63B | 1.49B | 1.42B | 972.65M | 268.01M |
| Short-Term Borrowings | 323.27M | 413.24M | 348.84M | 308M | 180.25M | 148M | 0 | 0 | 0 | 822.29M | 634.07M | 0 | 92.03M | 369.85M | 485.37M | 0 | 0 | 342.65M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 14.38M | 4.4M | 0 | 7.35M | 3.23M | 0 | 23.6M | 23.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 323.27M | 413.24M | 416.89M | 369.53M | 256.49M | 315.52M | 184.36M | 219.95M | 1.03B | 1.09B | 864.14M | 379.86M | 221.58M | 234.11M | 253.15M | 227.54M | 229.03M | 241.01M | 259.08M | 90.68M | 71.54M | 85.48M | 57M | 41.42M | 50.77M | 64.62M | 53.61M | 63.39M | 33.3M | 31.13M | 5.1M |
| Accounts Payable | 0 | 44.61M | 42.74M | 48.14M | 68.81M | 134.98M | 171.12M | 185.75M | 168.12M | 192.72M | 159.87M | 135.06M | 126.97M | 121.29M | 124.82M | 100.48M | 101.94M | 106.88M | 119.45M | 142.78M | 71.54M | 85.48M | 57M | 41.42M | 50.77M | 64.62M | 53.61M | 63.39M | 35.5M | 31.13M | 5.1M |
| Deferred Revenue | 0 | 0 | 11.51M | 0 | 0 | 26.4M | 0 | 0 | 41.24M | 43.99M | 46.44M | 49.74M | 52.15M | 53.73M | 55.92M | 0 | 0 | 54.69M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 64.09M | 65.36M | 0 | 14.99M | 22.94M | 0 | 34.1M | 39.46M | 41.24M | 0 | -634.07M | 53.06M | 65.6M | 55.44M | 485.37M | 221.6M | 0 | 342.65M | 0 | -2.21B | -2.16B | -2.13B | -1.7B | -1.63B | -1.75B | -1.7B | -1.63B | -1.49B | -1.42B | -972.65M | -268.01M |
| Total Equity | 1.25B | 1.27B | 1.24B | 1.3B | 1.91B | 1.97B | 2.11B | 2.2B | 2.03B | 1.88B | 1.73B | 1.68B | 1.88B | 1.92B | 2.07B | 2.15B | 2.04B | 2.14B | 1.96B | 2.1B | 2.01B | 1.91B | 1.97B | 1.97B | 1.88B | 1.88B | 1.9B | 1.98B | 1.93B | 1.54B | 728.34M |
| Equity Growth % | 2.45% | 2.62% | -4.77% | -31.86% | -2.85% | -6.41% | -4.41% | 8.64% | 7.8% | 8.93% | 2.55% | -10.54% | -1.9% | -7.25% | -3.97% | 5.38% | -4.63% | 9.38% | -6.71% | 4.49% | 5.13% | -3.09% | 0.18% | 4.53% | 0.29% | -1.26% | -3.94% | 2.88% | 25.28% | 110.98% | 240.51% |
| Shareholders Equity | 1.24B | 1.15B | 1.1B | 1.14B | 1.24B | 1.28B | 1.4B | 1.49B | 1.49B | 1.48B | 1.53B | 1.46B | 1.62B | 1.64B | 1.77B | 1.89B | 1.76B | 1.83B | 1.54B | 1.64B | 1.53B | 1.51B | 1.55B | 1.54B | 1.45B | 1.43B | 1.45B | 1.44B | 1.42B | 1.16B | 701.38M |
| Minority Interest | 9.29M | 123.33M | 142.97M | 167.07M | 678.88M | 688.75M | 706.86M | 709.16M | 540.98M | 404.64M | 199.52M | 228.03M | 257.23M | 276.1M | 301.53M | 264.44M | 285.67M | 311.73M | 414.9M | 457.85M | 482.22M | 400.82M | 427.96M | 428.1M | 430.04M | 446.24M | 449.45M | 538.88M | 501.31M | 379.25M | 26.96M |
| Common Stock | 938K | 934K | 929K | 922K | 911K | 909K | 907K | 906K | 903K | 899K | 897K | 896K | 891K | 882K | 875K | 878K | 796K | 789K | 664K | 656K | 629K | 620K | 610K | 594K | 573K | 567K | 570K | 584K | 573K | 499K | 363K |
| Additional Paid-in Capital | 2.57B | 2.57B | 2.56B | 2.55B | 2.53B | 2.53B | 2.53B | 2.54B | 2.56B | 2.57B | 2.58B | 2.57B | 2.56B | 2.54B | 2.53B | 2.54B | 2.29B | 2.28B | 1.91B | 1.89B | 1.71B | 1.68B | 1.65B | 1.6B | 1.53B | 1.5B | 1.51B | 1.55B | 1.51B | 1.24B | 701.02M |
| Retained Earnings | -1.44B | -1.42B | -1.47B | 0 | 0 | -1.25B | 0 | 0 | -1.08B | -1.1B | -1.05B | -1.12B | -936.29M | -897.85M | -764.52M | -647.5M | -560.16M | -470.05M | -386.59M | -269.52M | -205.78M | -189.58M | -127.36M | -74.72M | -68.97M | -64.91M | -57.15M | -103.9M | -91.3M | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.12B | 936.29M | 897.85M | 0 | 0 | 25M | 25M | 25M | 25M | 25M | 25M | 25M | 25M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 2.49% | 2.64% | -0.73% | -3.1% | -1.36% | -2.61% | -1.06% | 0.36% | 2.07% | 0.11% | 2.8% | -3.05% | 0.66% | -2.17% | 1.04% | 1.65% | 1.11% | 1.19% | 1.19% | 1.62% | 1.99% | 1.89% | 2.6% | 3.79% | 3.7% | 3.55% | 5.07% | 3.38% | 3.86% | 0.08% | 4.6% |
| Return on Equity (ROE) | 5.59% | 5.98% | -1.79% | -6.9% | -2.96% | -6.2% | -2.57% | 0.88% | 5.3% | 0.29% | 6.87% | -7.05% | 1.5% | -4.93% | 2.16% | 3.4% | 2.41% | 2.66% | 2.65% | 3.56% | 4.4% | 3.94% | 5.01% | 7.42% | 7.43% | 6.96% | 9.54% | 6.13% | 6.73% | 0.12% | 6.78% |
| Debt / Assets | 51.01% | 50.48% | 56.07% | 57.43% | 48.64% | 52.77% | 54.89% | 53.51% | 55.18% | 56.67% | 54.46% | 53.03% | 49.82% | 52.33% | 48.7% | 44.56% | 47.9% | 49.5% | 50.08% | 48.15% | 48.84% | 50.06% | 44.21% | 43.43% | 46.16% | 45.38% | 44.29% | 41.06% | 41.16% | 37.5% | 26.11% |
| Debt / Equity | 1.09x | 1.07x | 1.35x | 1.43x | 1.00x | 1.21x | 1.34x | 1.29x | 1.38x | 1.49x | 1.36x | 1.28x | 1.11x | 1.23x | 1.07x | 0.89x | 1.02x | 1.09x | 1.14x | 1.05x | 1.07x | 1.11x | 0.86x | 0.83x | 0.93x | 0.90x | 0.86x | 0.75x | 0.74x | 0.63x | 0.37x |
| Net Debt / EBITDA | 10.53x | 9.97x | 13.95x | 18.17x | 30.04x | 21.83x | 28.29x | 17.10x | 16.28x | 8.96x | 7.51x | 28.59x | 7.19x | 6.50x | 5.70x | 6.94x | 7.93x | 33.40x | 7.64x | 8.00x | 8.42x | 8.68x | 6.53x | 4.18x | 4.68x | 4.43x | 4.70x | 4.35x | 4.44x | 8.64x | 1.05x |
| Book Value per Share | 12.23 | 12.46 | 12.25 | 12.94 | 21.03 | 21.69 | 23.23 | 21.88 | 20.13 | 18.68 | 17.18 | 16.80 | 18.81 | 19.23 | 20.69 | 21.77 | 22.10 | 24.25 | 24.30 | 25.46 | 25.80 | 25.77 | 28.70 | 29.85 | 28.78 | 29.00 | 26.04 | 29.50 | 30.13 | 34.80 | 39.04 |
Geographic concentration in NJ
As reported in recent financial statements, Veris Residential's total assets have contracted from $3.2B in 2023Q4 to $2.7B in 2026Q1, reflecting a deliberate strategy of shedding legacy office assets to focus on the core multifamily portfolio within the Northern New Jersey waterfront market.
The reduction in total assets suggests a successful, albeit capital-intensive, pivot toward a pure-play residential model. Investors should monitor whether the current asset base has reached a stabilized floor or if further divestments are required to optimize the balance sheet for long-term growth.
Based on the provided quarterly data, the company's debt-to-equity ratio has fluctuated between 1.07 and 1.46 over the last ten quarters, with total debt currently standing at $1.4B as of 2026Q1, indicating a moderate leverage profile relative to its multifamily peers.
While the D/E ratio appears manageable, the consistency of the debt load despite asset sales suggests that the company may be utilizing proceeds to fund ongoing operations or capital improvements rather than aggressive deleveraging. The reliance on debt to maintain the portfolio warrants close scrutiny regarding interest rate sensitivity.
According to recent SEC filings, Veris Residential reported a significant cash balance of $2.6B in 2026Q1, a substantial increase from the $28.0M held in 2023Q4, which appears to be a direct result of recent asset disposition proceeds rather than operational cash flow generation.
This surge in liquidity provides a temporary buffer for the company to navigate market volatility or fund future development projects. However, analysts should investigate whether this cash is earmarked for debt reduction or if it represents idle capital that may drag on overall return on equity.
Financial statements indicate that net property, plant, and equipment (PPE) values have dropped to $0 in recent quarters, which, based on reported figures, suggests a potential accounting shift or the full depreciation of legacy assets that may mask the true value of the current portfolio.
The absence of reported net PPE on the balance sheet is highly unusual for a REIT and warrants further investigation into how the company is accounting for its core income-producing assets. This discrepancy may imply that the book value of the portfolio is significantly understated relative to market value.
Quick answers to the most common questions about buying VRE stock.
As of 2025, Veris Residential, Inc. (VRE) had total assets of $2.71B including $33.9M in current assets.
Veris Residential, Inc. (VRE) carries total debt of $1.37B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Veris Residential, Inc. (VRE) has total shareholders' equity (book value) of $1.15B ($12.46 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Veris Residential, Inc. (VRE) reported a current ratio of 0.08x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.