VRE Earnings Prediction
The chart below shows how VRE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, VRE sees a -1.03% change in stock price 10 days leading up to the earnings, and a +1.95% change 10 days following the report. On the earnings day itself, the stock moves by -0.80%. This data can give you a slight idea of what to expect for the next quarter's release.
VRE Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
68.17M
-4.63%
1.04%
Gross Margin
63.89%
17.27%
10.02%
Operating Margin
19.72%
1164.10%
34.52%
Net Margin
-16.30%
-81.10%
-935.90%
EPS
-0.10
-83.05%
-433.33%
No Data Available
VRE Earnings Analysis
Veris Residential, Inc. Corporation (VRE.N) Earnings Conference Call
Positive
Core FFO Growth Surge: 1. Strong core FFO growth of 17% in the first nine months of 2024, driven by better-than-anticipated resolution of non-controllable expenses and continued market rent growth.
Core FFO Growth: 2. Core FFO per share increased to $0.17 for Q3 2024, a 42% uplift compared to $0.12 in Q3 2023.
NOI and Rental Growth: 3. NOI growth of 6.7% and blended net rental growth of 4.8% for the first nine months of 2024, indicating strong operational performance despite market slowdowns.
Occupancy and Retention Rates: 4. The portfolio maintained a 95.1% occupancy rate, with retention increasing to 55%, reflecting strong demand for the company's properties.
ESG Rating Achievement: 5. The company has been recognized with a 5-star ESG rating for its sustainability efforts, highlighting its commitment to responsible corporate practices.
Negative
Net Loss Improvement: Net loss available to common shareholders was $0.10 per fully diluted share versus a net loss of $0.60 for the same period in the prior year.
Core FFO per Share Analysis: Core FFO per share was $0.17 for the third quarter compared to $0.18 last quarter and $0.12 for the third quarter of 2023.
Core FFO Growth Analysis: For the nine months ended September 30, we reported core FFO growth of 17%, driven by strong rental revenue growth, lower property expenses and lower interest expense.
Same-Store NOI Growth: Same-store NOI growth was 8.4% for the quarter and 6.7% year-to-date.
Core FFO Decline Expected: For the fourth quarter, we expect core FFO to be lower than in the third.
VRE FAQs
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VRE Earning Call Sentiment
Veris Residential, Inc. (VRE) Q3 2024 Earnings Call Transcript
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VRE.N
1.58%Positive
The earnings call reveals strong financial performance, with a 42% increase in Core FFO per share and improved net loss figures. Raised guidance for core FFO and NOI indicates positive future expectations. Despite risks like supply chain challenges and economic pressures, the company's strategic initiatives, such as debt refinancing and operational enhancements, are promising. The market cap suggests moderate volatility, and the absence of share repurchase announcements is neutral. Overall, the positive financial metrics and raised guidance outweigh potential risks, leading to a predicted stock price increase of 2% to 8%.