Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 35

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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,513$348,839Mortgages, loans payable and other obligations, net1,459,9641,323,474Liabilities held for sale, net40,862—Dividends and distributions payable8,5298,533Accounts payable, accrued expenses and other liabilities50,26242,744Rents received in advance and security deposits13,18511,512Accrued interest payable5,8065,262Total liabilities1,903,1211,740,364Commitments and contingenciesRedeemable noncontrolling interests9,2949,294Equity:Veris Residential, Inc. stockholders’ equity:Common stock, $0.01 par value, 190,000,000 shares authorized, 93,422,978 and 92,912,253 shares outstanding934929Additional paid-in capital2,567,2552,564,495Dividends in excess of net earnings(1,481,156)(1,466,187)Accumulated other comprehensive income (loss)(938)154Total Veris Residential, Inc. stockholders’ equity1,086,0951,099,391Noncontrolling interests in subsidiaries:Operating Partnership100,183102,588Consolidated joint ventures28,28731,090Total noncontrolling interests in subsidiaries128,470133,678Total equity1,214,5651,233,069Total liabilities and equity$3,126,980$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 EndedJune 30,Six Months EndedJune 30,REVENUES2025202420252024Revenue from leases$69,348 $60,917 $131,313 $121,559 Management fees766 871 1,484 1,793Parking income4,376 3,922 8,125 7,667Other income1,438 1,766 2,762 3,797Total revenues75,928 67,476 143,684 134,816EXPENSESReal estate taxes10,105 9,502 19,317 18,679Utilities2,103 1,796 4,910 4,067Operating services12,887