Veris Residential (VRE) Stock Forecast & Price Target

Veris Residential Inc. anticipates a positive trajectory, with forecasts indicating a 4.1% growth in same-store revenue and a 4.5% increase in same-store net operating income (SSNOI) for 2026, driven by the lease-up of redeveloped space at Liberty Towers. In the current year, the company projects a 2.4% increase in same-store revenue, alongside a manageable 2.6% growth in expenses, leading to a year-over-year SSNOI growth of 2.3%, within management's guidance range. The robust performance of the multifamily portfolio, combined with strategic sales of land and under-leased office assets, positions the company favorably for capital reinvestment into a diversified apartment footprint.

Veris Residential is projected to experience a 1.5% year-over-year decline in normalized funds from operations per share (FFOps) in 2025, signaling potential financial struggles in the near term. The company faces significant downside risks primarily due to an oversupply in the New Jersey apartment market, coupled with high construction costs and decreased tenant demand, which could adversely affect development yields. Additionally, rising interest rates and a potential economic downturn present substantial challenges for Veris Residential as it attempts to reposition its portfolio and reduce financial leverage relative to industry peers.