Veris Residential, Inc. (VRE) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to Welles Presidential Inc second quarter 2024 earnings conference call. At this time, all participants are in the listen only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ms. Taryn Fielder General Counsel. Thank you, Ms. Fielder. You may begin. Good morning, everyone, and welcome to Barris Residential's second quarter 2024 earnings conference call. I would like to remind everyone that certain information discussed on this call may constitute forward-looking statements within the meaning of the federal securities law. Although we believe the estimates reflected in these statements are based on reasonable assumptions, we cannot give assurance that the anticipated results will be achieved. We refer you to the company's press release and annual and quarterly reports filed with the SEC for risk factors that impact the company. With that, I would like to hand the call over to Mahbub Nia, Veris Residential's Chief Executive Officer, who is joined by Amanda Lombard, Chief Financial Officer. Mahbub. Thank you, Taryn, and good morning, everyone. The second quarter marked another period of strong operational and financial results for Veris, reflecting continued progress across a number of initiatives aligned with our three-pronged value creation plan. This is reflected in our decision to raise guidance once again, which Amanda will discuss in further detail. As of June 30th, the portfolio was 95.1% occupied and continues to perform well, with 5% blended net rental growth and 5.9% NOI growth in the first half of t...