Veris Residential Inc - Company Profile
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Veris Residential Inc (Veris) is a real estate investment trust (REIT). It carries out leasing, property management, acquisition, development and construction of commercial real estate properties. It focuses on the luxury multi-family sector. Veris’ portfolio includes commercial, office, retail and multifamily properties across Connecticut, Washington DC, New Jersey, New York, Pennsylvania, Virginia and Massachusetts in the US. As of December 31, 2022, the company had interest or owned 35 multifamily properties including seven office properties, 24 multi-family rental properties with 7,681 residential units: four parking/retail properties, two hotels and a developable land. Veris is headquartered in Jersey City, New Jersey, the US.
Headquarters
United States of America
Address
Harborside 3, 210 Hudson St., Ste. 400, Jersey City, New Jersey, 07311
Website
verisresidential.com
Telephone
1 732 5901000
No of Employees
197
Industry
Construction
Ticker Symbol & Exchange
VRE (NYSE)
Revenue (2022)
$279.9M
19.9%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
-106%
(2022 vs 2021)
Market Cap*
$1.3B
Net Profit Margin (2022)
XYZ
-71.9%
(2022 vs 2021)
* As of and is in US$
Veris Residential Inc premium industry data and analytics
Products and Services
| Services |
|---|
| Real Estate Development and Investment |
| Properties Leasing |
| Property Management |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Asset Disposal | In April, the company announced the completion of its sale of Harborside 1, 2, and 3, Class A office buildings in Jersey City, New Jersey. |
| 2022 | Contracts/Agreements | In February, the company and Collectors Holdings announced the signing of a long-term lease for approximately 130,000 square feet of office space at Harborside 3 in Jersey City. |
| 2021 | Asset Disposal | In June, the company announced the sale of River Centre, an office portfolio in Red Bank, New Jersey, the US to First Mile Properties. |
Competitor Comparison
| Key Parameters | Veris Residential Inc | Boston Properties Inc | Alexandria Real Estate Equities Inc | Kilroy Realty Corp | SL Green Realty Corp |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Jersey City | Boston | Pasadena | Los Angeles | New York |
| State/Province | New Jersey | Massachusetts | California | California | New York |
| No. of Employees | 197 | 836 | 568 | 248 | 1,188 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Tammy K. Jones | Chairman | Executive Board | 2020 | 57 |
| Mahbod Nia | Chief Executive Officer; Director | Executive Board | 2021 | 46 |
| Anna Malhari | Chief Operating Officer | Senior Management | 2021 | - |
| Amanda Lombard | Chief Accounting Officer | Senior Management | 2022 | - |
| Giacomo Mascillaro | Senior Vice President; Chief Information Officer; Chief Technology Officer | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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