Veris Residential, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:31 pm EDT
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Veris Residential, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 64.21 million compared to USD 54.76 million a year ago. Revenue was USD 71.48 million compared to USD 63.14 million a year ago. Net loss was USD 54.81 million compared to USD 101.22 million a year ago. Basic loss per share from continuing operations was USD 0.61 compared to USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.61. Basic loss per share was USD 0.6 compared to USD 1.1 a year ago. Diluted loss per share was USD 0.6 compared to USD 1.1 a year ago.
For the nine months, sales was USD 185.96 million compared to USD 146.02 million a year ago. Revenue was USD 206.94 million compared to USD 166.26 million a year ago. Net loss was USD 102.21 million compared to USD 83.94 million a year ago. Basic loss per share from continuing operations was USD 1.17 compared to USD 0.38 a year ago. Diluted loss per share from continuing operations was USD 1.17. Basic loss per share was USD 1.16 compared to USD 0.98 a year ago. Diluted loss per share was USD 1.16 compared to USD 0.98 a year ago.
Veris Residential, Inc. is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company owns, operates, and develops multifamily rental properties located primarily in the Northeast, as well as a portfolio of non-strategic land and commercial assets. The Company operates through two segments: multifamily real estate and services and commercial and other real estate. The Company provides property management, leasing, acquisition, development, construction and tenant-related services for its multifamily real estate portfolio and commercial and other real estate located in the United States. The Company owns and has interests in 24 multifamily rental properties as well as non-strategic assets comprised of one office property, four parking/retail properties, and developable land. It seeks to own a portfolio comprised primarily of Class A multifamily properties with premium amenities and offerings that reflect its commitment to sustainability.
VERIS RESIDENTIAL, INC. 
