Earnings Releases·Nov 2, 2026, 4:40 PM ET

Vornado Realty Trust — Third Quarter 2026 Earnings Summary

Reported a net loss of $47.1 million ($0.25/share) for the quarter, reversing prior year income, while FFO per share rose to $0.62 from $0.58 and adjusted FFO reached $0.65 from $0.57; revenues increased 3.1% year-over-year to $467.7 million.
Deconsolidated 350 Park Avenue following a joint venture formation with Citadel Enterprise Americas, expecting an estimated $485 million net gain in Q4 2026, alongside acquisitions of Park Avenue Plaza (49% interest) and 3 East 54th Street.
Executed significant financing activity including $500 million in new senior unsecured notes and multiple refinancings, though 825 Seventh Avenue entered maturity default in October 2026 while 888 Seventh Avenue secured a forbearance agreement through March 2027.
Repurchased 4.53 million shares for $133.3 million in the first nine months of 2026 under an authorized program, with $286.6 million remaining available as of September 30.
Same store NOI at share grew 9.0% for the quarter and 8.4% for the nine-month period, while total occupancy stood at 91.5% with New York office occupancy at 93.0%.