Vornado Realty Trust saw a rebound in Q3 2025, posting positive net income and higher funds from operations driven by leasing activity, the NYU lease, and asset dispositions.
Returned to profitability with $11.6M in net income, up from a loss last year
Adjusted EPS came in at $0.57 per share
FFO rose to $117.4M ($0.58/share), with gains from NYU lease and asset sales
Revenue grew modestly to $454M for the quarter
Management emphasized cautious optimism, expecting continued impact from leasing momentum and redevelopment projects while remaining vigilant about macroeconomic headwinds.
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