VORNADO REALTY LP Form 8-K — Nov 2, 2026
Vornado reported a Q3 2026 net loss attributable to common shareholders of $47.1 million, or $0.25 per diluted share, versus net income of $11.6 million ($0.06) a year earlier. The nine-month swing to a $53.5 million loss largely reflects the absence of last year's $803.2 million gain on the 770 Broadway master lease with NYU. On the operational measure that matters for a REIT, FFO as adjusted rose to $0.65 per diluted share from $0.57, helped by rent commencements and the newly acquired Park Avenue Plaza stake, with same-store NOI at share up 9.0%. Leasing momentum was strong, with New York office relet rents up 37.2% on a GAAP basis and occupancy at 91.5%.
Key figures
- Revenue
- 467657000
- Guidance
- Anticipates continuing common share dividend policy of paying one dividend in Q4, subject to Board approval.
- Revenue Yoy
- 3.1% (Q3 revenue $467.657M vs $453.700M)
- Total Assets
- 15638165000
- Cash Position
- 580496000
- Shares Outstanding
- 186958000
- Net debt
- $8,714,900,000 (pro rata total debt $9,575,092,000)
- Occupancy
- 91.5% total at share
- 2033 notes
- $500,000,000 at 5.75%, due February 1, 2033
- Total liquidity
- $1.911 billion
- Buyback remaining
- $286,590,000
- Ffo as adjusted q3
- $126,656,000 ($0.65/diluted share) vs $114,535,000 ($0.57) prior year
- Buyback nine months
- 4,532,803 shares for $133,305,000 at $29.41 average
- Nine month net loss
- -$53,546,000 (-$0.28/diluted share) vs $842,250,000 income prior year (incl. $803,248,000 NYU 770 Broadway gain)
- 350 park gain estimate
- $485,000,000 in Q4 2026
- Same store noi growth q3
- 9.0% total; New York 10.2%
- 350 park construction loan
- $3.3 billion, SOFR+3.00%, matures October 2032
- 888 seventh avenue default
- $244,543,000 loan in forbearance through March 2027
- Ffo as adjusted nine months
- $360,941,000 ($1.84) vs $354,239,000 ($1.76)
- Park avenue plaza acquisition
- 49.0% interest at $1.1 billion gross valuation
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