Veris Residential Builds Stronger Communities with Resident Focus

Veris Residential is committed to building stronger communities through a resident-focused approach. This means prioritizing the needs and well-being of its residents above all else.

At the heart of this approach is Veris Residential's mission to create a sense of community and belonging among its residents. By doing so, the company aims to foster a positive and supportive living environment.

Veris Residential achieves this through various initiatives, including resident events and community programs. These efforts help to bring residents together and build lasting relationships.

Veris Residential has a market capitalization of $1.3 billion, a significant figure in the real estate industry.

The company has a strong financial foundation, with a debt-to-equity ratio of 0.64, indicating a manageable level of debt.

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The sales by activity section of Veris Residential, Inc.'s financials reveals some interesting trends.

In 2024, the company's ownership and development of its multifamily real estate portfolio brought in $276 million in sales.

The corporate and other segment had a significant loss in 2021, with -$1.24 million in sales. However, this was followed by a smaller loss in 2022, and a gain in 2023.

Here is a breakdown of the sales by activity for Veris Residential, Inc.:

The multi-family real estate and services segment saw a steady increase in sales from 2020 to 2022, with $155 million, $167 million, and $226 million in sales respectively.

Veris Residential has declared a quarterly cash dividend. The company, known as a forward-thinking, Northeast-focused, Class A multifamily REIT, is paying out to its shareholders.

The dividend was declared by Veris Residential, Inc. (NYSE: VRE), the company's official stock ticker symbol.

Veris Residential has had some notable updates recently. Evercore ISI downgraded Veris Residential to "In Line" from "Outperform" on February 26.

This change in rating likely reflects a reevaluation of the company's performance. On February 25, Veris Residential held its Q4 2024 Earnings Call.

The company's financials are a key focus area for investors and analysts.

Educational signage was placed in high traffic areas to keep the bees top of mind for residents.

The communities also installed symbolic hives near the concierge desk or in common areas to let residents know about the real hives on the roof.

These storytelling opportunities helped spark more meaningful conversations around sustainability programs and related issues surrounding nature and biodiversity.

The bee program allows residents to interact with sustainability programs and connects them to initiatives in the best way possible.

Abbey Renaud, Senior Manager, Corporate Communications, highlights the importance of education and connection in the bee program.

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This ecofriendly apartment tower in Jersey City is a great example of sustainable design. It features a rooftop garden with over 10,000 square feet of green space.

The tower's energy-efficient systems use 25% less energy than a traditional building of its size. This is achieved through advanced insulation, LED lighting, and a high-efficiency HVAC system.

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Residents of the tower can enjoy the benefits of a LEED Gold certified building, which includes improved indoor air quality and reduced water consumption. This is made possible by the building's rainwater harvesting system and greywater reuse system.

The tower's unique design also incorporates a number of green features, including a green roof, solar panels, and a wind turbine.

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Veris Residential prioritizes resident experience through its commitment to community engagement.

Residents have access to over 100 community events per year, fostering a sense of belonging and connection among neighbors.

Amenities like the rooftop pool and outdoor kitchen provide opportunities for socializing and relaxation.

Veris Residential's pet-friendly policies and on-site dog park cater to residents with furry companions.

Veris Residential's mission is centered around environmental sustainability, which is a key element of their brand. This focus on sustainability is what attracts their residents and drives every initiative and amenity they implement.

Their residents get to meet their beekeeper every three weeks, which is a unique experience. This beekeeper visits each building regularly.

The Veris Residential team hosts two annual events focused on environmental education, giving residents a chance to learn about bees and biodiversity. These events are a great way for residents to engage with the property's sustainability initiatives.

Residents can even bottle their own jars of honey, making the experience even more hands-on and fun.

Engaging with residents is key to creating a sense of community, and Veris properties have found a great way to do this through educational events that are well-attended across all their locations.

Veris takes it a step further by providing daily connection to the bees through live "bee cams" and integrating hive updates into their resident app.

Residents can also show their appreciation for the bees by gifting honey and other customized beeswax products like lip balm to their neighbors.

These thoughtful gestures not only bring people together but also create a sense of shared experience and appreciation for the natural world.

Attracting new residents to a community is a big task, and it's great to have a unique selling point like a thriving beehive to showcase.

The hives at Veris have garnered significant attention from local media outlets, radio stations, and social media influencers.

This press coverage not only raises awareness about the community but also helps Veris demonstrate its commitment to sustainability.

Ann Wood, Marketing and Events Manager, notes that the charismatic honey bee serves as a conversation starter, allowing them to discuss bigger issues like environmental sustainability.

By highlighting their ESG initiatives through the beehive, Veris can engage potential residents and highlight the community's values.

Veris Residential, Inc. is a company that operates in the stock market. Their stock is listed under the ticker symbol VRE.

Here are some key details about the company's stock market presence:

The Executive Committee of Veris Residential, Inc. is led by Mahbod Nia, who serves as the CEO and has been in the role since March 7, 2021.

Mahbod Nia is 49 years old and has been at the helm of the company for over two years. Amanda Lombard joined the committee in March 2022 as the Director of Finance/CFO, bringing her expertise to the table at the age of 41.

The Chief Investment Officer, Jeffrey Turkanis, is 43 years old and has been in the role since April 3, 2022. Anna Malhari, the Chief Administrative Officer, has been with the company since February 28, 2021, and is 40 years old.

Taryn Fielder, the General Counsel, is 47 years old and has been in the role since April 17, 2022. Here's a brief overview of the Executive Committee:

The Board of Directors at Veris Residential, Inc. is made up of some seasoned professionals.

Nori Lietz has been a Director/Board Member since 2019, bringing 68 years of experience to the table.

Frederic Cumenal also joined the board in 2019, at the age of 65.

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Tammy Jones took over as Chairman in 2021, at the relatively young age of 59.

The average age of the board members is 58.5 years old.

Here's a list of the current board members, including their titles and ages:

Veris Residential, Inc. is a publicly traded company listed on the stock market. It's often referred to as VRE Stock in financial circles.

The company operates in the equities sector, which is a broad category that encompasses various types of stocks and investments.