Vornado Announces Third Quarter 2026 Financial Results
Vornado reported Q3 2026 revenue of $467.7M (up ~3% YoY) with a GAAP net loss of $0.25 per diluted share, versus net income of $0.06 a year earlier. On the REIT metric that matters, FFO as adjusted rose to $0.65 per diluted share from $0.57, with same-store NOI at share up 9.0% and New York office occupancy at 93.0%. The centerpiece is the 350 Park Avenue joint venture with Kenneth Griffin and Rudin: Vornado holds a 36.1% effective interest in the $3.3B-loan-financed, 1.9M sq ft tower with Citadel as anchor tenant, and expects an approximately $485M net gain in Q4 2026.
Key figures
- Revenue
- 467657000
- Q3 2025 eps
- 0.06
- Ffo per share
- 0.62
- Noi at share q3
- 300054000
- Buyback 9m shares
- 4532803
- Buyback remaining
- 286590000
- Buyback 9m dollars
- 133305000
- Ny occupancy total
- 91.5%
- Ny office occupancy
- 93.0%
- Ffo as adjusted total
- 126656000
- Ffo as adjusted q3 2025
- 0.57
- Same store noi growth q3
- 9.0%
- Ffo as adjusted per share
- 0.65
- Q4 expected 350 park gain
- 485000000
- 350 park construction loan
- 3300000000
- 350 park project budget share
- 2134000000
- Buyback authorized april 2026
- 300000000
- Vornado 350 park effective interest
- 36.1%
AI analysis
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