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Veris Residential, Inc. and its general partner, Veris Residential, L.P., a real estate company with a market capitalization of $1.52 billion and current stock price of $14.92, announced the results of their 2025 annual meeting of stockholders, held on June 11, 2025. The meeting addressed the election of nine directors, a non-binding advisory vote on executive compensation, and the ratification of the company’s independent auditor for the fiscal year ending December 31, 2025.
At the annual meeting, all nine director nominees were elected to serve a one-year term ending at the 2026 annual meeting. The directors elected were Frederic Cumenal, Ronald M. Dickerman, Tammy K. Jones, A. Akiva Katz, Nori Gerardo Lietz, Victor B. MacFarlane, Mahbod Nia, Howard S. Stern (AS:PBHP), and Stephanie L. Williams. The results included a majority of votes cast in favor of each director, with the number of broker non-votes consistent across all elections. According to InvestingPro analysis, the company faces challenges with short-term obligations exceeding liquid assets and currently operates at a loss, with diluted earnings per share at -$0.38.
Additionally, stockholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers as outlined in the proxy statement. The vote for approval was 63,039,667 for, 3,098,405 against, with 26,663 abstentions and 11,424,977 broker non-votes. The company maintains revenue of $279.63 million and receives a FAIR overall Financial Health Score from InvestingPro, which offers comprehensive analysis and additional insights through its Pro Research Report.
The appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified with a significant majority of 74,983,267 votes for, 2,588,849 against, and 17,596 abstentions.
The information is based on a press release statement.
In other recent news, Veris Residential Inc. reported its first-quarter 2025 earnings, revealing a net loss of $0.12 per share, missing analysts’ expectations of a $0.09 loss. However, the company exceeded revenue forecasts by posting $67.76 million against the anticipated $63.8 million. Despite the revenue beat, analysts from Truist Securities and Evercore ISI adjusted their outlooks on Veris Residential, with Truist reducing the price target from $17.00 to $16.00 while maintaining a Hold rating, and Evercore ISI lowering their target from $18.00 to $17.50, keeping an In Line rating. Truist’s revision reflects a modestly modified earnings projection and a reassessment of potential returns, while Evercore ISI’s adjustment considers the current value of the stock against potential future monetization events. The analysts at Evercore ISI noted a more challenging capital markets environment, suggesting possible delays in significant monetization events for Veris Residential until 2026. Meanwhile, Veris Residential’s core funds from operations (FFO) per share increased to $0.16, up from $0.11 in the previous quarter, and the company maintained a strong portfolio occupancy rate of 94%. The company reaffirmed its core FFO guidance for 2025, projecting between $0.61 and $0.63 per share, and plans to sell $300-$500 million in non-strategic assets to reduce net debt to EBITDA below nine times by the end of 2026.
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