For the year ending 2025-12-31, VRE made $288,434K in revenue. $75,239K in net income. Net profit margin of 26.09%.
| Income Statement | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenues | 288,434 | 271,074 | 279,859 | 355,018 |
| Real estate taxes | 38,361 | 37,424 | 40,810 | 58,585 |
| Utilities | 9,290 | 8,151 | 9,922 | 14,344 |
| Operating services | 47,962 | 48,239 | 57,925 | 77,855 |
| Real estate services expenses | - | - | 14,188 | 10,549 |
| Property management | 16,673 | 17,247 | - | - |
| General and administrative | 36,753 | 39,059 | 44,472 | 56,169 |
| Transaction-related costs | 3,750 | 1,565 | 7,627 | 3,467 |
| Depreciation and amortization | 86,263 | 82,774 | 93,589 | 111,518 |
| Property impairments | - | - | 32,516 | 94,811 |
| Land and other impairments, net | 17,984 | 2,619 | 9,324 | 9,368 |
| Total expenses | 257,036 | 237,078 | 310,373 | 436,666 |
| Interest expense | 88,579 | 87,976 | 89,355 | 78,040 |
| Interest cost of mandatorily redeemable noncontrolling interests | 0 | 0 | -49,782 | - |
| Interest and other investment income | 370 | 2,366 | 5,515 | 729 |
| Equity in earnings (losses) of unconsolidated joint ventures | 5,257 | 3,934 | 3,102 | 1,200 |
| Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net | 90,831 | - | 0 | 66,115 |
| Gain (loss) on disposition of developable land | 34,040 | 11,515 | 7,068 | 57,262 |
| Gain (loss) on sale of unconsolidated joint venture interests | 5,122 | 6,946 | 0 | 7,677 |
| Gain (loss) from extinguishment of debt, net | -3,530 | -777 | -5,606 | -7,432 |
| Other income (expense), net | 148 | -701 | 2,871 | - |
| Total other income (expense), net | 43,659 | -64,693 | -126,187 | 47,511 |
| Income (loss) from continuing operations before income tax expense | 75,057 | -30,697 | -156,701 | - |
| Provision for income taxes | 231 | 276 | 492 | - |
| Income (loss) from continuing operations after income tax expense | 74,826 | -30,973 | -157,193 | -34,137 |
| Income (loss) from discontinued operations | 4,115 | 862 | 3,150 | 3,692 |
| Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net | 0 | 3,447 | 41,682 | -4,440 |
| Total discontinued operations, net | 4,115 | 4,309 | 44,832 | -748 |
| Net income (loss) | 78,941 | -26,664 | -112,361 | -34,885 |
| Noncontrolling interests in consolidated joint ventures | -3,538 | -1,924 | -2,319 | -3,079 |
| Noncontrolling interests in operating partnership of loss (income) from continuing operations | 6,569 | -2,531 | -14,267 | -5,202 |
| Noncontrolling interests in operating partnership in discontinued operations | 347 | 371 | 3,872 | -72 |
| Redeemable noncontrolling interests | 324 | 540 | 7,618 | 25,534 |
| Net income (loss) available to common shareholders | 75,239 | -23,120 | -107,265 | -52,066 |
| Basic EPS | 0.81 | -0.25 | -1.22 | -0.63 |
| Diluted EPS | 0.8 | -0.25 | -1.22 | -0.63 |
| Basic Average Shares | 93,355,000 | 92,695,000 | 91,883,000 | 91,046,000 |
| Diluted Average Shares | 102,363,000 | 101,381,000 | 100,812,000 | 100,265,000 |
Veris Residential, Inc. (VRE)
Veris Residential, Inc. (VRE)