NYSE$VRE
Veris Residentia · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Veris Residential's strategic shift to a pure-play multifamily REIT was highlighted by strong Q4 performance.
Veris Residential reported a net loss per diluted share of ($0.32). The multifamily portfolio was 96.4% occupied, and Same Store NOI increased by 21.0% year-over-year and 7.0% quarter-over-quarter. The company made progress in its transition to a pure-play multifamily REIT, with the multifamily portfolio accounting for 56% of Q4 NOI.
- Same Store 5,499-unit operating multifamily portfolio was 96.4% occupied as of December 31, 2021, 2.8% above pre-pandemic levels.
- Q4 2021 multifamily year-over-year and quarter-over-quarter Same Store NOI increased by 21.0% and 7.0%, respectively, reflecting higher occupancy, scaling back of concessions and increasing market rents during the quarter.
- Multifamily portfolio accounts for 56% of Q4 NOI following $741 million of suburban office sales and the $210 million disposal of 111 River Street in Hoboken, NJ, completed in January 2022.
- Corporate rebranding to Veris Residential, Inc., signifies strategic shift to environmentally- and socially-conscious multifamily REIT
Headline financials
Revenue & EPS history
Veris Residentia · Revenue · Quarterly
$88.2M
Revenue by segment
Veris Residentia · $72.5M total across 3 segments · Q1 2020
- Revenue from leases$65.5M—90.4%
- Parking income$5.27M—7.3%
- Other income$1.72M—2.4%
Forward guidance
The Company considers portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.
Tailwinds
- Our future economic performance
- Plans and objectives for future operations
- Projections of revenue and other financial items
- The Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made
- For further information on factors which could impact us and the statements contained herein, see Item 1A: Risk Factors in Veris Residential, Inc.’s (“VRE”) Annual Report on Form 10-K for the year ended December 31, 2021.
Headwinds
- Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which we cannot predict with accuracy and some of which we might not even anticipate.
- The Company can give no assurance that such expectations will be achieved.
- Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements.
- Readers are cautioned not to place undue reliance on these forward-looking statements.
- We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2021
-0.6%
Avg return
Earnings day
-0.3%
Avg return
5 days after
+0.3%
Avg return
30 days after
41%
28 / 68 earnings
Positive
+12.4%
Q4 2025
Best reaction
-9.9%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.1% | +0.2% | +0.4% | |
| Q4 2025 | +12.4% | +12.4% | +12.9% | |
| Q3 2025 | +0.2% | -0.9% | +1.6% | |
| Q2 2025 | +0.5% | +0.8% | +4.9% | |
| Q1 2025 | -2.2% | -4.6% | -9.3% | |
| Q4 2024 | +1.4% | +5.8% | +4.4% | |
| Q3 2024 | -1.8% | -1.5% | +9.1% | |
| Q2 2024 | -0.7% | +1.3% | +7.1% | |
| Q1 2024 | -4.1% | -4.2% | -1.3% | |
| Q4 2023 | -4.5% | -5.8% | -4.9% | |
| Q3 2023 | -8.6% | -14.0% | -12.5% | |
| Q2 2023 | +10.4% | +14.1% | +12.6% | |
| Q1 2023 | +3.9% | +5.1% | +3.5% | |
| Q4 2022 | +1.5% | +1.0% | -14.3% | |
| Q3 2022 | -2.9% | -3.9% | +3.2% | |
| Q2 2022 | -1.0% | +3.2% | -0.2% | |
| Q1 2022 | +0.1% | -9.2% | +1.6% | |
| Q4 2021 | -0.6% | -1.7% | -0.9% | |
| Q3 2021 | +3.7% | +4.8% | -7.4% | |
| Q2 2021 | +1.7% | -1.9% | +0.7% | |
| Q1 2021 | +0.1% | -0.2% | +7.3% | |
| Q4 2020 | -9.9% | -8.1% | +4.4% | |
| Q3 2020 | -6.8% | +15.0% | +27.0% | |
| Q2 2020 | -7.1% | -7.0% | -12.2% | |
| Q1 2020 | +5.1% | +2.2% | +21.0% | |
| Q4 2019 | -4.9% | -3.6% | -30.6% | |
| Q3 2019 | -3.0% | +1.0% | -3.1% | |
| Q2 2019 | -0.4% | -0.8% | -6.5% | |
| Q1 2019 | -1.4% | +1.5% | -2.4% | |
| Q4 2018 | +2.8% | +0.3% | +3.6% | |
| Q3 2018 | -1.0% | -0.1% | +6.1% | |
| Q2 2018 | -1.9% | -1.3% | +12.2% | |
| Q1 2018 | +3.9% | +5.6% | +12.7% | |
| Q4 2017 | -8.4% | -2.8% | -12.6% | |
| Q3 2017 | -6.4% | -1.2% | -6.7% | |
| Q2 2017 | -6.2% | -5.8% | -11.3% | |
| Q1 2017 | +0.0% | -1.6% | -0.1% | |
| Q4 2016 | -0.0% | -0.6% | -8.7% | |
| Q3 2016 | -1.7% | -5.2% | -0.2% | |
| Q2 2016 | -0.4% | -1.4% | -0.6% | |
| Q1 2016 | +3.8% | — | — | |
| Q4 2015 | +4.3% | — | — | |
| Q3 2015 | +0.1% | — | — | |
| Q2 2015 | +4.9% | — | — | |
| Q1 2015 | +2.2% | — | — | |
| Q4 2014 | -1.8% | — | — | |
| Q3 2014 | -3.6% | — | — | |
| Q2 2014 | +0.1% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | +0.0% | — | — | |
| Q3 2013 | -0.4% | — | — | |
| Q2 2013 | -1.0% | — | — | |
| Q1 2013 | -1.3% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -4.4% | — | — | |
| Q2 2012 | -4.4% | — | — | |
| Q1 2012 | -1.7% | — | — | |
| Q4 2011 | -2.5% | — | — | |
| Q3 2011 | +4.5% | — | — | |
| Q2 2011 | -0.4% | — | — | |
| Q1 2010 | -0.5% | — | — | |
| Q1 2011 | -1.6% | — | — | |
| Q4 2008 | +1.8% | — | — | |
| Q4 2010 | +1.8% | — | — | |
| Q3 2009 | +0.8% | — | — | |
| Q3 2010 | +0.8% | — | — | |
| Q2 2010 | -0.6% | — | — | |
| Q2 2009 | -0.6% | — | — |
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