Veris Residential Reports Strong Financial Performance
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Veris Residential, Inc. reported strong financial performance, with a 3.9% year-over-year same-store blended net rental growth for the quarter and 3.5% year-to-date. The company exceeded its non-strategic asset sales target, raising it to $650 million after selling $542 million. A reduction in net debt-to-EBITDA ratio indicates improved financial health. Analysts rate VRE stock as a Hold with a $15.50 price target, while TipRanks’ AI Analyst rates it Neutral due to concerns over high leverage and negative cash flow. Veris Residential focuses on residential properties, primarily in New Jersey and Massachusetts.
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