Vornado Realty Trust — Third Quarter 2026 Earnings Summary

Vornado Realty Trust reported a net loss of $47.1 million for the third quarter of 2026, a significant decline from the net income of $11.6 million recorded in the same period the prior year. Funds from operations (FFO) attributable to common shareholders increased to $122.6 million, or $0.62 per share, compared to $117.4 million in the prior year quarter. The company deconsolidated its 350 Park Avenue property following the formation of a new joint venture with Citadel, which is expected to generate an estimated net gain of approximately $485 million in the fourth quarter of 2026. Additionally, Vornado acquired a 49% interest in Park Avenue Plaza for $1.1 billion and completed several refinancing activities, including the issuance of $500 million in senior unsecured notes due 2033.