Why Is Veris Residential Stock Skyrocketing Monday? - Veris Residential (NYSE:VRE)

Why Is Veris Residential Stock Skyrocketing Monday? - Veris Residential (NYSE:VRE)

Veris Residential, Inc. (NYSE:VRE) stock rose Monday on news that it will be acquired by an Affinius Capital-led consortium. The definitive merger agreement values the REIT at approximately $3.4 billion in enterprise value. Details As per the terms, Veris shareholders will receive $19.00 in cash for each share of common stock, and holders of operating partnership common units will receive the same $19.00 cash consideration per unit. The deal pri…

Affinius Capital-led investor consortium to acquire Veris Residential for $3.4B

Jersey City-based Veris Residential, Inc., a Northeast-focused, Class A multifamily REIT, announced that it will be acquired by an investor consortium led by Affinius Capital in partnership with Vista Hill Partners, in an all-cash transaction for $19 per share of Veris common stock, representing an implied enterprise value of $3.4 billion. The transaction price reflects a 23.2% premium to Veris’ unaffected closing share price on Feb. 4, and a 27…

Veris Residential (NYSE:VRE) Issues Earnings Results

Veris Residential (NYSE:VRE – Get Free Report) released its quarterly earnings results on Monday. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03, Zacks reports. Veris Residential had a return on equity of 4.72% and a net margin of 22.09%.The company had revenue of $71.31 million for the […]

Affinius Capital-Led Group To Buy Veris Residential For $3.4B

Within months of investors pressuring Veris Residential to list itself for sale, the REIT has found a buyer.  A group of investors led by Affinius Capital and Vista Hill Partners has agreed to pay $19 per share in an all-cash transaction that could take Veris private. The deal values the company at $3.4B.