How did VRE's Q4 2024 earnings surprise analysts?

Veris Residential (VRE) exceeded analysts' expectations in Q4 2024 with a reported EPS of $0.12, compared to the estimated EPS of $0.10. This represents a significant improvement from the previous quarter's EPS of $0.03, which beat expectations by $0.02. The company's revenue for the quarter was $68.97 million, slightly surpassing the estimated revenue of $68.75 million. This achievement can be attributed to robust demand for premium properties, effective cost management, and successful real estate tax appeals recognized in the prior year. In summary, VRE's Q4 2024 earnings exceeded analysts' expectations due to strong operational performance, effective cost management, and favorable market conditions.