Shares of Veris Residential, Inc. (VRE) are climbing around 12 percent on Monday morning trading following the announcement of its fourth-quarter financial results and an agreement to be acquired by an investor consortium led by Affinius Capital in partnership with Vista Hill Partners.
The company's stock is currently trading at $18.80, up 12.13 percent or $2.04, over the previous close of $16.77 on the New York Stock Exchange. It has traded between $13.69 and $18.88 in the past one year.
During the quarter, the company's earnings came in at $0.00 per share compared with a net loss of $0.13 per share in the prior year. Core FFO increased to $0.19 per share from $0.11 per share, last year.
Meanwhile, the $3.4 deal has been unanimously approved by Veris' Board of Directors and is expected to close in the second quarter of 2026.
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