Veris Residential slightly beats Q4 revenue expectations, to be acquired by affinius capital-led investor consortium

Veris Residential

23/02/2026 12:29

Overview

Northeast multifamily REIT's Q4 revenue slightly beat analyst expectations

Core FFO per share for Q4 beat analyst estimates

Company completed $542 mln non-strategic asset sales, reducing debt by $490 mln

Co to be acquired by affinius capital-led investor consortium for $3.4 billion in cash

Outlook

Company did not provide specific guidance for future revenue or EPS in its press release

Result Drivers

CORE FFO GROWTH - Annual Core FFO per share increased over 20%, surpassing guidance, due to improved operational efficiencies

ASSET SALES - Completed $542 mln in non-strategic asset sales, exceeding target and reducing debt by $490 mln

OCCUPANCY AND NOI - Maintained strong occupancy of 94.4% and achieved 5.9% growth in same-store NOI for Q4

Company press release: ID:nPn6wCgyMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Slight Beat*
$71.30 mln
$70.93 mln (5 Analysts)
Q4 EPS
$0
Q4 Core FFO Per Share
Beat
$0.19
$0.16 (6 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the residential reits peer group is "buy"

Wall Street's median 12-month price target for Veris Residential Inc is $17.50, about 4.4% above its February 20 closing price of $16.77

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)