Vornado Realty Trust (VNO) reported second-quarter 2026 net income attributable to common shareholders of $16.4 million, or $0.08 per diluted share, compared with $743.8 million, or $3.70 per diluted share, a year earlier. Revenue for the quarter was $462.2 million, compared with $441.4 million in the prior-year quarter.
The company said the year-over-year decrease in net income was primarily due to an $803.2 million gain related to the 770 Broadway master lease with NYU in the prior-year period. FFO attributable to common shareholders plus assumed conversions, a non-GAAP measure, was $144.1 million, or $0.74 per diluted share.
- Six-month net loss attributable to common shareholders was $6.4 million, or $0.03 per diluted share.
- Vornado completed the purchase of a 49.0% interest in Park Avenue Plaza at a gross asset valuation of $1.1 billion.
- The company acquired 3 East 54th Street for $141.0 million on January 7, 2026.
- During the quarter, Vornado repurchased 1,787,090 common shares for $53.5 million at an average price of $29.92 per share.
- Occupancy at Vornado’s share was 87.5% overall as of June 30, 2026.
