Veris Residential, Inc. (VRE) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Veris Residential Incorporated's third quarter 2024 earnings conference call. All participants will be in listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press the star key followed by the zero on your telephone keypad. Please note that this event is being recorded. I would now like to turn the conference over to the General Counsel, Taryn Fielder. Please go ahead, ma'am. Good morning, everyone, and welcome to Veris Residential's third quarter 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. We're pleased to report another quarter of strong NOI and core FFO growth, driven by the better than anticipated resolution of our non-controllable expenses and continued market rent growth, resulting in a 17% increase in core FFO during the first nine months of the year. We continue to build upon the strong results delivered in the first half of the year, making steady progress across a number of strategic initiatives aligned with our three-pronged value creation plan. We refi...