Veris Residential (VRE)

Company Profile

Veris 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.

Company profile

Ticker

VRE

Exchange

NYSE

Website

verisresidential.com

CEO

Mahbod Nia

Incorporated

Maryland

Location

New Jersey

Fiscal year end

Dec 31

Sector

Finance and Insurance > Other Financial Vehicles

Industry (SIC)

Real Estate Investment Trusts

Annaly Capital Management • AGNC Investment • Simon Property • Prologis • ARMOUR Residential REIT • VEREIT • Vornado Realty • Vornado Realty Trust • Healthpeak Properties • Ventas ...

Former names

CALI REALTY CORP /NEW/, CALI REALTY L P, MACK CALI REALTY CORP

SEC CIK

0000924901

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

1 GIRALDA REALTY L.L.C. • 1 WATER STREET L.L.C. • 3 CAMPUS REALTY LLC • 3 GIRALDA REALTY L.L.C. • 3 SYLVAN HOLDING, L.L.C. • 3 SYLVAN REALTY L.L.C. • 4 GATEHALL REALTY L.L.C. • 5 WOOD HOLLOW REALTY, L.L.C. • 6 BECKER URBAN RENEWAL, L.L.C. • 7 GIRALDA REALTY L.L.C. ...

IRS number

223305147

VRE stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$20.00

Low target

$18.00

High target

$22.00

Latest filings (excl ownership)

View all

Results of Operations and Financial Condition

2 Nov 22

Departure of Directors or Certain Officers

21 Oct 22

8-K

Corporate Presentation 1 SEPTEMBER 2022

13 Sep 22

8-K

Results of Operations and Financial Condition

3 Aug 22

Submission of Matters to a Vote of Security Holders

21 Jun 22

8-K

Regulation FD Disclosure

7 Jun 22

8-K

Results of Operations and Financial Condition

4 May 22

Transcripts

View all

VRE

Earnings call transcript

2022 Q2

6 Aug 22

VRE

Earnings call transcript

2022 Q1

7 May 22

VRE

Earnings call transcript

2021 Q4

26 Feb 22

VRE

Earnings call transcript

2021 Q2

31 Jul 21

VRE

Earnings call transcript

2021 Q1

9 May 21

VRE

Earnings call transcript

2020 Q4

26 Feb 21

VRE

Earnings call transcript

2020 Q3

8 Nov 20

VRE

Earnings call transcript

2020 Q2

3 Aug 20

VRE

Earnings call transcript

2020 Q1

7 May 20

VRE

Earnings call transcript

2019 Q4

28 Feb 20

Latest ownership filings

View all

Madison International Realty Holdings, LLC

Financial summary

Financial statements Chart VRE financial data

Quarter (USD)	Sep 21	Jun 21	Mar 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 20	Dec 19	Dec 18	Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	43.12 mm	43.12 mm	43.12 mm	43.12 mm	43.12 mm	43.12 mm
Cash burn (monthly)	3.55 mm	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	57.77 mm	n/a	n/a	n/a	n/a	n/a
Cash remaining	-14.66 mm	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	-4.1	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

VRE institutional ownership history Ownership history

91.6% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	152	158	-3.8%
Opened positions	12	13	-7.7%
Closed positions	18	29	-37.9%
Increased positions	55	52	+5.8%
Reduced positions	62	68	-8.8%

13F shares	Current	Prev Q	Change
Total value	948.70 mm	1.19 bn	-20.4%
Total shares	83.44 mm	90.48 mm	-7.8%
Total puts	100.00	20.60 k	-99.5%
Total calls	49.40 k	48.30 k	+2.3%
Total put/call ratio	0.0	0.4	-99.5%

Largest owners	Shares	Value	Change
BLK Blackrock	14.95 mm	$170.01 mm	-0.6%
Vanguard	13.03 mm	$148.11 mm	+2.5%
Mack William L	7.45 mm	$92.86 mm	0.0%
Madison International Realty	6.11 mm	$69.44 mm	0.0%
H/2 Credit Manager	4.70 mm	$53.41 mm	+5.0%
FMR	4.70 mm	$53.38 mm	-3.7%
Centersquare Investment Management	4.04 mm	$45.90 mm	+13.7%
Wellington Management	2.36 mm	$26.84 mm	+2.5%
Victory Capital Management	1.85 mm	$21.03 mm	-0.7%
BN Brookfield	1.79 mm	$20.40 mm	0.0%

Largest transactions	Shares	Bought/sold	Change
STT State Street	0.00	-5.35 mm	EXIT
Northwood Liquid Management	0.00	-1.37 mm	EXIT
Centersquare Investment Management	4.04 mm	+484.93 k	+13.7%
Balyasny Asset Management	806.21 k	-358.07 k	-30.8%
Vanguard	13.03 mm	+312.50 k	+2.5%
Jacobs Levy Equity Management	0.00	-264.86 k	EXIT
Toscafund Asset Management	0.00	-251.45 k	EXIT
H/2 Credit Manager	4.70 mm	+222.00 k	+5.0%
JPM JPMorgan Chase & Co.	1.76 mm	+202.23 k	+13.0%
MS Morgan Stanley	535.93 k	-183.14 k	-25.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

VRE insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
3 Jan 23	Batkin Alan R	Phantom Stock Units Common Stock, $0.01 par value	Grant	Acquire A	No	No	16	1,523.438	24.38 k	19,089.449
3 Jan 23	A. Akiva Katz	Phantom Stock Units Common Stock, $0.01 par value	Grant	Acquire A	No	No	16	1,406.25	22.50 k	6,320.203
3 Jan 23	Frederic Cumenal	Phantom Stock Units Common Stock, $0.01 par value	Grant	Acquire A	No	No	16	1,328.125	21.25 k	17,849.492
3 Jan 23	Nori Gerardo Lietz	Phantom Stock Units Common Stock, $0.01 par value	Grant	Acquire A	No	No	16	1,406.25	22.50 k	18,353.065
3 Jan 23	Macfarlane Victor B	Phantom Stock Units Common Stock, $0.01 par value	Grant	Acquire A	No	No	16	1,210.938	19.38 k	7,815.543