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Dec 31, 2024
Vornado Q4 2024 Earnings Report
Key Takeaways
Vornado Realty Trust reported a net income of $1.2 million for Q4 2024, a significant improvement from the $61 million net loss in Q4 2023. Adjusted funds from operations (FFO) stood at $122.2 million, a slight decline from $123.8 million in the prior year. Revenue reached $457.8 million, reflecting an increase from Q4 2023. The company saw fluctuations in its leasing activity and occupancy rates across its properties.
Revenue by Geographic Location
Forward Guidance
Vornado expects continued leasing challenges but remains optimistic about its asset portfolio and long-term strategy.
Positive Outlook
- Continued improvement in net income.
- Strong leasing performance in select properties.
- Strategic asset repositioning efforts progressing.
- Focus on operational efficiency improvements.
- Diversified portfolio providing stability.
Challenges Ahead
- Slight decline in adjusted FFO compared to Q4 2023.
- Leasing challenges in certain markets.
- Higher interest expenses impacting profitability.
- Declining occupancy rates in key properties.
- Potential macroeconomic headwinds affecting demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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