Veris Residential Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Veris Residential Inc reported revenue of $288.4M (+6.4% year on year) and net income of $78.9M (+396.1% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total revenues | $288.4M | $271.1M | $279.9M | $355.0M |
| Real estate taxes | $38.4M | $37.4M | $40.8M | $58.6M |
| Utilities | $9.3M | $8.2M | $9.9M | $14.3M |
| Operating services | $48.0M | $48.2M | $57.9M | $77.9M |
| Property management | $16.7M | $17.2M | — | — |
| General and administrative | $36.8M | $39.1M | $44.5M | $56.2M |
| Transaction-related costs | $3.8M | $1.6M | $7.6M | $3.5M |
| Depreciation and amortization | $86.3M | $82.8M | $93.6M | $111.5M |
| Land and other impairments, net | $18.0M | $2.6M | $9.3M | $9.4M |
| Total expenses | $257.0M | $237.1M | $310.4M | $436.7M |
| Interest expense | ($88.6M) | ($88.0M) | ($89.4M) | ($78.0M) |
| Interest cost of mandatorily redeemable noncontrolling interests | $0 | $0 | ($49.8M) | — |
| Interest and other investment income | $370.0K | $2.4M | $5.5M | $729.0K |
| Equity in earnings (losses) of unconsolidated joint ventures | $5.3M | $3.9M | $3.1M | $1.2M |
| Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net | $90.8M | — | $0 | $66.1M |
| Gain (loss) on disposition of developable land | $34.0M | $11.5M | $7.1M | $57.3M |
| Gain (loss) on sale of unconsolidated joint venture interests | $5.1M | $6.9M | $0 | $7.7M |
| Gain (loss) from extinguishment of debt, net | ($3.5M) | ($777.0K) | ($5.6M) | ($7.4M) |
| Other income (expense), net | $148.0K | ($701.0K) | $2.9M | — |
| Total other income (expense), net | $43.7M | ($64.7M) | ($126.2M) | $47.5M |
| Income (loss) from continuing operations before income tax expense | $75.1M | ($30.7M) | ($156.7M) | — |
| Provision for income taxes | ($231.0K) | ($276.0K) | ($492.0K) | — |
| Income (loss) from continuing operations after income tax expense | $74.8M | ($31.0M) | ($157.2M) | ($34.1M) |
| Income (loss) from discontinued operations | $4.1M | $862.0K | $3.1M | $3.7M |
| Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net | $0 | $3.4M | $41.7M | ($4.4M) |
| Total discontinued operations, net | $4.1M | $4.3M | $44.8M | ($748.0K) |
| Net income (loss) | $78.9M | ($26.7M) | ($112.4M) | ($34.9M) |
| Noncontrolling interests in consolidated joint ventures | $3.5M | $1.9M | $2.3M | $3.1M |
| Noncontrolling interests in Operating Partnership of loss (income) from continuing operations | ($6.6M) | $2.5M | $14.3M | $5.2M |
| Noncontrolling interests in Operating Partnership in discontinued operations | ($347.0K) | ($371.0K) | ($3.9M) | $72.0K |
| Redeemable noncontrolling interests | ($324.0K) | ($540.0K) | ($7.6M) | ($25.5M) |
| Net income (loss) available to common shareholders | $75.2M | ($23.1M) | ($107.3M) | ($52.1M) |
| Income (loss) from continuing operations (in dollars per share) | $0.77 | -$0.29 | -$1.66 | -$0.62 |
| Net income (loss) available to common shareholders (in dollars per share) | $0.81 | -$0.25 | -$1.22 | -$0.63 |
| Income (loss) from continuing operations (in dollars per share) | $0.76 | -$0.29 | -$1.66 | -$0.62 |
| Discontinued operations (in dollars per share) | $0.04 | $0.04 | $0.44 | -$0.01 |
| Net income (loss) available to common shareholders (in dollars per share) | $0.80 | -$0.25 | -$1.22 | -$0.63 |
| Basic weighted average shares outstanding (in shares) | 93.4M | 92.7M | 91.9M | 91.0M |
| Diluted weighted average shares outstanding (in shares) | 102.4M | 101.4M | 100.8M | 100.3M |
| Line item | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 | Mar 31, 2025 · Q1 |
|---|---|---|---|---|
| Total revenues | $70.1M | $73.4M | $75.9M | $67.8M |
| Real estate taxes | $7.8M | $10.1M | $10.1M | $9.2M |
| Utilities | $2.9M | $2.4M | $2.1M | $2.8M |
| Operating services | $10.7M | $12.8M | $12.9M | $11.0M |
| Property management | $4.5M | $4.3M | $4.1M | $4.4M |
| General and administrative | $10.5M | $8.5M | $9.6M | $10.1M |
| Transaction and merger related costs | $10.5M | — | — | — |
| Depreciation and amortization | $21.2M | $21.1M | $22.5M | $21.3M |
| Land and other impairments, net | $0 | $0 | $12.5M | $3.2M |
| Total expenses | $68.0M | $60.7M | $75.3M | $62.2M |
| Interest expense | ($17.9M) | ($22.2M) | ($24.6M) | ($23.0M) |
| Interest and other investment income | $102.0K | $173.0K | $70.0K | $25.0K |
| Equity in earnings (losses) of unconsolidated joint ventures | $460.0K | $340.0K | $526.0K | $3.8M |
| Gain (loss) on disposition of developable land | $0 | ($1.1M) | $36.6M | ($156.0K) |
| Other income (expense), net | ($283.0K) | ($121.0K) | $528.0K | ($105.0K) |
| Total other (expense) income, net | ($17.6M) | $64.9M | $11.3M | ($19.4M) |
| Income (loss) from continuing operations before income tax expense | ($15.5M) | $77.6M | $12.0M | ($13.8M) |
| Provision for income taxes | ($69.0K) | ($35.0K) | ($93.0K) | ($42.0K) |
| Net income (loss) from continuing operations | ($15.6M) | $77.5M | $11.9M | ($13.9M) |
| Income (loss) from discontinued operations | $0 | $3.8M | ($27.0K) | $136.0K |
| Net income (loss) | ($15.6M) | $81.3M | $11.8M | ($13.7M) |
| Noncontrolling interests in consolidated joint ventures | $400.0K | $907.0K | $149.0K | $2.1M |
| Noncontrolling interests in Operating Partnership of income (loss) from continuing operations | $1.3M | ($6.6M) | ($1.0M) | $998.0K |
| Noncontrolling interests in Operating Partnership in discontinued operations | $0 | ($319.0K) | $2.0K | ($11.0K) |
| Redeemable noncontrolling interests | ($81.0K) | ($81.0K) | ($81.0K) | ($81.0K) |
| Net income (loss) available to common shareholders | ($14.0M) | $75.2M | $10.9M | ($10.7M) |
| Income (loss) from continuing operations (in dollars per share) | -$0.15 | $0.77 | $0.12 | -$0.12 |
| Discontinued operations (in dollars per share) | $0.00 | $0.04 | $0.00 | $0.00 |
| Net income (loss) available to common shareholders (in dollars per share) | -$0.15 | $0.81 | $0.12 | -$0.12 |
| Basic weighted average shares outstanding (in shares) | 93.6M | 93.5M | 93.4M | 93.1M |
| Diluted weighted average shares outstanding (in shares) | 102.1M | 102.5M | 102.3M | 101.7M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land and leasehold interests | $376.7M | $458.9M | $474.5M | $492.2M |
| Buildings and improvements | $2.6B | $2.6B | $2.8B | $3.3B |
| Tenant improvements | $16.7M | $14.8M | $30.9M | $122.5M |
| Furniture, fixtures and equipment | $118.8M | $112.2M | $103.6M | $99.1M |
| Gross investment in rental property | $3.1B | $3.2B | $3.4B | $4.0B |
| Less – accumulated depreciation and amortization | ($516.4M) | ($432.5M) | ($443.8M) | ($631.9M) |
| Total investment in rental property | $2.6B | $2.8B | $2.9B | $3.4B |
| Real estate held for sale, net | $0 | $7.3M | $58.6M | $193.9M |
| Net investment in rental property | $2.6B | $2.8B | $3.0B | $3.6B |
| Cash and cash equivalents | $14.1M | $7.3M | $28.0M | $26.8M |
| Restricted cash | $15.2M | $17.1M | $26.6M | $20.9M |
| Investments in unconsolidated joint ventures | $52.2M | $111.3M | $118.0M | $126.2M |
| Unbilled rents receivable, net | $3.6M | $2.3M | $5.5M | $39.7M |
| Deferred charges and other assets, net | $40.6M | $48.5M | $54.0M | $96.2M |
| Accounts receivable | $911.0K | $1.4M | $2.7M | $2.9M |
| Total assets | $2.7B | $3.0B | $3.2B | $3.9B |
| Revolving credit facility and term loans | $30.0M | $348.8M | — | $0 |
| Mortgages, loans payable and other obligations, net | $1.3B | $1.3B | $1.9B | $1.9B |
| Dividends and distributions payable | $8.7M | $8.5M | $5.5M | $110.0K |
| Accounts payable, accrued expenses and other liabilities | $44.6M | $42.7M | $55.5M | $72.0M |
| Rents received in advance and security deposits | $11.4M | $11.5M | $15.0M | $22.9M |
| Accrued interest payable | $5.0M | $5.3M | $6.6M | $7.1M |
| Total liabilities | $1.4B | $1.7B | $1.9B | $2.0B |
| Redeemable noncontrolling interests | $9.3M | $9.3M | $25.0M | $515.2M |
| Common stock, $0.01 par value, 190,000,000 shares authorized, 92,229,424 and 91,141,649 shares outstanding | 934.0K | 929.0K | 922.0K | 911.0K |
| Additional paid-in capital | $2.6B | $2.6B | $2.6B | $2.5B |
| Dividends in excess of net earnings | ($1.4B) | ($1.5B) | ($1.4B) | ($1.3B) |
| Accumulated other comprehensive income (loss) | ($687.0K) | $154.0K | $1.8M | $4.0M |
| Total Veris Residential, Inc. stockholders’ equity | $1.2B | $1.1B | $1.1B | $1.2B |
| Operating Partnership | $105.8M | $102.6M | $107.2M | $126.1M |
| Consolidated joint ventures | $8.2M | $31.1M | $34.9M | $37.5M |
| Total noncontrolling interests in subsidiaries | $114.0M | $133.7M | $142.1M | $163.7M |
| Total equity | $1.3B | $1.2B | $1.3B | $1.4B |
| Total liabilities and equity | $2.7B | $3.0B | $3.2B | $3.9B |
| Line item | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
|---|---|---|---|---|
| Land and leasehold interests | $376.7M | $438.0M | $442.6M | $456.8M |
| Buildings and improvements | $2.6B | $2.6B | $2.6B | $2.6B |
| Tenant improvements | $17.4M | $16.4M | $16.1M | $15.1M |
| Furniture, fixtures and equipment | $120.4M | $115.7M | $112.4M | $114.0M |
| Gross investment in rental property | $3.1B | $3.2B | $3.2B | $3.2B |
| Less – accumulated depreciation and amortization | ($537.3M) | ($495.7M) | ($475.1M) | ($451.5M) |
| Net investment in rental property | $2.6B | $2.7B | $3.0B | $2.8B |
| Cash and cash equivalents | $9.4M | $8.8M | $11.4M | $7.6M |
| Restricted cash | $13.7M | $17.0M | $18.6M | $14.5M |
| Investments in unconsolidated joint ventures | $51.9M | $52.8M | $53.6M | $111.6M |
| Unbilled rents receivable, net | $3.5M | $3.3M | $3.3M | $2.4M |
| Deferred charges and other assets, net | $36.2M | $46.6M | $43.1M | $43.7M |
| Accounts receivable | $1.3M | $918.0K | $1.1M | $1.2M |
| Total assets | $2.7B | $2.8B | $3.1B | $3.0B |
| Revolving credit facility and term loans | $124.0M | $31.0M | $324.5M | $345.2M |
| Mortgages, loans payable and other obligations, net | $1.2B | $1.4B | $1.5B | $1.3B |
| Dividends and distributions payable | $8.6M | $8.6M | $8.5M | $8.5M |
| Accounts payable, accrued expenses and other liabilities | $44.0M | $51.8M | $50.3M | $40.6M |
| Rents received in advance and security deposits | $11.8M | $11.6M | $13.2M | $11.5M |
| Accrued interest payable | $5.1M | $5.1M | $5.8M | $5.2M |
| Total liabilities | $1.4B | $1.5B | $1.9B | $1.7B |
| Redeemable noncontrolling interests | $9.3M | $9.3M | $9.3M | $9.3M |
| Common stock, $0.01 par value, 190,000,000 shares authorized, 93,838,017 and 93,432,649 shares outstanding | 938.0K | 934.0K | 934.0K | 933.0K |
| Additional paid-in capital | $2.6B | $2.6B | $2.6B | $2.6B |
| Dividends in excess of net earnings | ($1.4B) | ($1.4B) | ($1.5B) | ($1.5B) |
| Accumulated other comprehensive income (loss) | ($257.0K) | ($684.0K) | ($938.0K) | ($857.0K) |
| Total Veris Residential, Inc. stockholders’ equity | $1.1B | $1.2B | $1.1B | $1.1B |
| Operating Partnership | $102.5M | $106.3M | $100.2M | $99.8M |
| Consolidated joint ventures | $7.5M | $8.6M | $28.3M | $28.9M |
| Total noncontrolling interests in subsidiaries | $110.0M | $115.0M | $128.5M | $128.7M |
| Total equity | $1.2B | $1.3B | $1.2B | $1.2B |
| Total liabilities and equity | $2.7B | $2.8B | $3.1B | $3.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income (loss) | $78.9M | ($26.7M) | ($112.4M) | ($34.9M) |
| Net loss (income) from discontinued operations | ($4.1M) | ($4.3M) | ($44.8M) | $748.0K |
| Income (loss) from continuing operations after income tax expense | $74.8M | ($31.0M) | ($157.2M) | ($34.1M) |
| Depreciation and amortization, including related intangible assets | $86.2M | $82.7M | $93.5M | $111.4M |
| Amortization of directors deferred compensation stock units | $468.0K | $394.0K | $394.0K | $440.0K |
| Amortization of stock compensation | $11.7M | $13.2M | $19.9M | $13.8M |
| Amortization of deferred financing costs and derivative premiums | $9.4M | $10.6M | $4.4M | $4.8M |
| Equity in (earnings) loss of unconsolidated joint ventures | ($5.3M) | ($3.9M) | ($3.1M) | ($1.2M) |
| Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net | ($90.8M) | — | $0 | ($66.1M) |
| (Gain) loss on disposition of developable land | ($34.0M) | ($11.5M) | ($7.1M) | ($57.3M) |
| Land and other impairments, net | $18.0M | $2.6M | $9.3M | $9.4M |
| (Gain) loss from sale of investment in unconsolidated joint venture | ($5.1M) | ($6.9M) | $0 | ($7.7M) |
| (Gain) loss from extinguishment of debt | $3.5M | $777.0K | $5.6M | $7.4M |
| Gain on insurance proceeds | $0 | $0 | ($2.9M) | — |
| Interest cost of mandatorily redeemable noncontrolling interests | $0 | $0 | $49.8M | — |
| Decrease (Increase) in unbilled rents receivable, net | ($996.0K) | ($695.0K) | $2.8M | $1.6M |
| Decrease (Increase) in deferred charges and other assets | $2.8M | $5.0M | $2.1M | ($12.6M) |
| Decrease (Increase) in accounts receivable, net | $326.0K | $165.0K | $215.0K | ($505.0K) |
| (Decrease) Increase in accounts payable, accrued expenses and other liabilities | $1.8M | ($5.5M) | ($4.3M) | $328.0K |
| (Decrease) Increase in rents received in advance and security deposits | ($1.2M) | ($326.0K) | $202.0K | ($3.2M) |
| (Decrease) Increase in accrued interest payable | ($231.0K) | ($1.3M) | $42.0K | $1.4M |
| Net cash flows provided by (used in) operating activities - continuing operations | $71.4M | $54.3M | $46.3M | $62.7M |
| Net cash flows provided by (used in) operating activities - discontinued operations | $4.6M | ($2.0M) | ($785.0K) | $3.8M |
| Net cash provided by (used in) operating activities | $76.0M | $52.3M | $45.5M | $66.5M |
| Rental property additions and improvements | ($31.4M) | ($18.4M) | ($12.5M) | ($51.5M) |
| Development of rental property and other related costs | ($7.4M) | ($6.1M) | ($8.4M) | ($73.2M) |
| Purchase of unconsolidated joint venture interest, net of cash acquired | ($36.5M) | — | — | — |
| Proceeds from the sales of developable land | $163.0M | $89.0M | $23.0M | $451.9M |
| Proceeds from the sales of rental property | $340.1M | — | — | — |
| Proceeds from the sales of investments in unconsolidated joint ventures | $7.1M | $6.1M | $0 | $7.7M |
| Repayment of notes receivable | $0 | $32.0K | $1.3M | $2.9M |
| Investment in unconsolidated joint ventures | $0 | ($276.0K) | ($762.0K) | ($162.0K) |
| Distributions in excess of cumulative earnings from unconsolidated joint ventures | $10.4M | $12.4M | $12.1M | $13.1M |
| Proceeds from insurance settlements | $0 | $0 | $3.8M | — |
| Other investing activities | $0 | $250.0K | $1.0M | — |
| Net cash provided by (used in) investing activities - continuing operations | $445.4M | $83.0M | $19.6M | $220.3M |
| Net cash provided by (used in) investing activities - discontinued operations | $0 | $79.1M | $560.0M | ($176.0K) |
| Net cash provided by (used in) investing activities | $445.4M | $162.1M | $579.6M | $220.1M |
| Borrowings from revolving credit facility | $248.0M | $174.0M | $81.0M | $102.0M |
| Repayments of revolving credit facility | ($370.0M) | ($22.0M) | ($81.0M) | ($250.0M) |
| Borrowings from term loans | $0 | $200.0M | $115.0M | $0 |
| Repayments of term loans | ($200.0M) | $0 | ($115.0M) | $0 |
| Proceeds from mortgages and loans payable | $0 | $0 | $399.6M | $154.7M |
| Repayments of mortgages, loans payable and other obligations | ($135.2M) | ($535.0M) | ($442.1M) | ($245.5M) |
| Redemptions of redeemable noncontrolling interests, net | $0 | ($15.7M) | ($535.5M) | ($12.0M) |
| Line item | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD | Mar 31, 2025 · Q1 |
|---|---|---|---|---|
| Net income (loss) | ($15.6M) | $79.4M | ($1.9M) | ($13.7M) |
| Net loss (income) from discontinued operations | $0 | ($3.9M) | ($109.0K) | ($136.0K) |
| Net income (loss) from continuing operations | ($15.6M) | $75.5M | ($2.0M) | ($13.9M) |
| Depreciation and amortization, including related intangible assets | $21.2M | $64.8M | $43.7M | $21.3M |
| Amortization of deferred compensation stock units | $0 | $338.0K | $214.0K | $98.0K |
| Amortization of stock compensation | $3.6M | $9.0M | $6.0M | $3.3M |
| Amortization of deferred financing costs and derivative premiums | $1.8M | $7.5M | $5.4M | $2.8M |
| Equity in (earnings) loss of unconsolidated joint ventures | ($460.0K) | ($4.7M) | ($4.4M) | ($3.8M) |
| (Gain) loss on disposition of developable land | $0 | ($35.3M) | ($36.4M) | $156.0K |
| Land and other impairments, net | $0 | $15.7M | $15.7M | $3.2M |
| Decrease (increase) in unbilled rents receivable, net | $138.0K | ($655.0K) | ($605.0K) | ($156.0K) |
| Decrease (increase) in deferred charges and other assets | $3.3M | ($2.2M) | $3.0M | $1.8M |
| Decrease (increase) in accounts receivable, net | ($392.0K) | $319.0K | $257.0K | $206.0K |
| (Decrease) increase in accounts payable, accrued expenses and other liabilities | ($102.0K) | $3.0M | $3.1M | ($1.9M) |
| (Decrease) increase in rents received in advance and security deposits | $390.0K | ($1.0M) | $549.0K | $17.0K |
| (Decrease) increase in accrued interest payable | $27.0K | ($131.0K) | $544.0K | ($30.0K) |
| Net cash flows provided by (used in) operating activities - continuing operations | $14.0M | $46.1M | $36.8M | $13.0M |
| Net cash flows provided by (used in) operating activities - discontinued operations | $0 | $4.4M | $145.0K | $164.0K |
| Net cash provided by (used in) operating activities | $14.0M | $50.5M | $37.0M | $13.2M |
| Rental property additions, improvements and other costs | ($4.4M) | ($22.5M) | ($14.2M) | ($5.8M) |
| Development of rental property and other related costs | ($370.0K) | ($5.9M) | ($1.6M) | ($1.1M) |
| Proceeds from the sales of developable land | $0 | $94.7M | $57.8M | $7.1M |
| Distributions in excess of cumulative earnings from unconsolidated joint ventures | $822.0K | $9.2M | $8.2M | $3.2M |
| Net cash provided by (used in) investing activities | ($3.9M) | $386.3M | $20.8M | $3.4M |
| Borrowings from revolving credit facility | $99.0M | $201.0M | $70.0M | $20.0M |
| Repayment of revolving credit facility | ($5.0M) | ($322.0M) | ($95.0M) | ($24.0M) |
| Repayment of mortgages, loans payable and other obligations | ($95.6M) | ($63.7M) | ($4.9M) | ($2.3M) |
| Common unit redemptions | ($823.0K) | ($456.0K) | ($148.0K) | ($148.0K) |
| Payment of financing costs and derivative premiums, net | ($3.0K) | ($1.5M) | ($517.0K) | ($18.0K) |
| Contribution from noncontrolling interests | $0 | $225.0K | $117.0K | $70.0K |
| Distribution to noncontrolling interests | ($256.0K) | ($19.5M) | ($646.0K) | ($158.0K) |
| Distributions to redeemable noncontrolling interests | ($81.0K) | ($243.0K) | ($162.0K) | ($81.0K) |
| Payment of common dividends and distributions | ($8.5M) | ($24.8M) | ($16.6M) | ($8.3M) |
| Payment for taxes related to the net share settlement of stock compensation awards | ($5.1M) | ($4.4M) | ($4.3M) | ($3.9M) |
| Net cash provided by (used in) financing activities | ($16.4M) | ($435.3M) | ($52.1M) | ($18.8M) |
| Net increase (decrease) in cash and cash equivalents | ($6.3M) | $1.5M | $5.7M | ($2.2M) |
| Cash, cash equivalents and restricted cash, beginning of period | $29.4M | $24.3M | $24.3M | $24.3M |
| Cash, cash equivalents and restricted cash, end of period | $23.1M | $25.8M | $30.0M | $22.1M |
Veris Residential Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.