Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 28

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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172$348,839Mortgages, loans payable and other obligations, net1,322,0361,323,474Dividends and distributions payable8,4858,533Accounts payable, accrued expenses and other liabilities40,64842,744Rents received in advance and security deposits11,52911,512Accrued interest payable5,2325,262Total liabilities1,733,1021,740,364Commitments and contingenciesRedeemable noncontrolling interests9,2949,294Equity:Veris Residential, Inc. stockholders’ equity:Common stock, $0.01 par value, 190,000,000 shares authorized, 93,311,881 and 92,912,253 shares outstanding933929Additional paid-in capital2,564,8462,564,495Dividends in excess of net earnings(1,484,436)(1,466,187)Accumulated other comprehensive income (loss)(857)154Total Veris Residential, Inc. stockholders’ equity1,080,4861,099,391Noncontrolling interests in subsidiaries:Operating Partnership99,814102,588Consolidated joint ventures28,87731,090Total noncontrolling interests in subsidiaries128,691133,678Total equity1,209,1771,233,069Total liabilities and equity$2,951,573$2,982,727

The accompanying notes are an integral part of these consolidated financial statements.

6

Table of ContentsVERIS RESIDENTIAL, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited)

Three Months EndedMarch 31,REVENUES20252024Revenue from leases$61,965 $60,642 Management fees718 922 Parking income3,749 3,745 Other income1,324 2,031 Total revenues67,756 67,340 EXPENSESReal estate taxes9,212 9,177 Utilities2,807 2,271 Operating services10,993 12,570 Property management4,385 5,242 General and administrative10,068 11,088 Transaction related costs308 516 Depreciation and amortization21,253 20,117 Land and other impairments, net3,200 — Total expenses62,226 60,981 OTHER (EXPENSE