Veris Residential, Inc. (VRE) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the Veris Residential Inc. Third Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A 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. Please note this conference is being recorded. I would now like to turn the conference over to your host, Ms. Taryn Fielder. Please go ahead. Good morning, everyone, and welcome to Veris Residential's third quarter 2025 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 Ana Mohari, Chief Operating Officer, and Amanda Lombard, Chief Financial Officer. Mahbub. Thank you, Taryn, and good morning, everyone. We're delighted to report another quarter of exceptionally strong operational performance, including blended net rental growth of 3.9%, significantly outperforming the national market, and core FFO per share of 20 cents. Despite challenging transaction markets, we made considerable progress on our corporate plan to monetize select non-strategic assets using sales proceeds to further de-lever as we seek to continue unlocking the value embedded within the company. To ...