Jul. 24 at 8:47 PM
$VRE Veris Residential reports Q2 core AFFO 21c, consensus 13c
Reports Q2 revenue
$67.48M, consensus
$66.99M. CEO Mahbod Nia commented: "We are pleased to report another quarter of strong operational and financial results, leading to our decision to raise guidance once again. In April we secured a new
$500M credit facility and term loan, signaling a renewed, strategic approach to managing our balance sheet and providing us with substantial liquidity and financial flexibility going forward. We also reduced our overall debt by a further
$168M, primarily utilizing proceeds from non-strategic asset sales. Looking ahead, we remain well-positioned to execute our three-pronged approach to value creation as we seek to maximize value on behalf of our shareholders."