Veris: Q4 Earnings Snapshot
JERSEY CITY, N.J. (AP) _ Veris Residential, Inc. (VRE) on Wednesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Jersey City, New Jersey, said it had funds from operations of $17.1 million, or 17 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 16 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $26.3 million, or 32 cents per share.
The real estate investment trust, based in Jersey City, New Jersey, posted revenue of $88.2 million in the period.
For the year, the company reported funds from operations of $68.2 million. Revenue was reported as $329.3 million.