Vornado Realty Trust (NYSE: VNO) has announced its financial results for the fourth quarter of 2025, reporting a net income attributable to common shareholders of $601,000, or $0.00 per diluted share, compared to $1,203,000, or $0.01 per diluted share, for the same period in the prior year. Funds from operations ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) for the fourth quarter of 2025 was $112,927,000, or $0.56 per diluted share, compared to $117,085,000, or $0.58 per diluted share, for the same period in the prior year.
For the full year of 2025, the net income attributable to common shareholders was reported at $842,851,000, or $4.20 per diluted share, compared to $8,275,000, or $0.04 per diluted share, for the year ended December 31, 2024. The FFO attributable to common shareholders plus assumed conversions (non-GAAP) for the year ended December 31, 2025, was $486,826,000, or $2.42 per diluted share, compared to $470,021,000, or $2.37 per diluted share, for the year ended December 31, 2024.
The company also provided a detailed breakdown of certain (income) expense items that impacted FFO attributable to common shareholders plus assumed conversions, showing an after-tax net gain on the sale of 220 Central Park South ("220 CPS") condominium units and ancillary amenities, among other items.
In terms of acquisitions and dispositions, Vornado Realty Trust acquired 3 East 54th Street for $141,000,000 and 623 Fifth Avenue for $218,000,000, while completing the sale of properties such as 512 West 22nd Street, 49 West 57th Street, and others, resulting in recognized financial gains.
The company further engaged in significant financing activities, including refinancing properties such as One Park Avenue, 61 Ninth Avenue, and 7 West 34th Street, completing a public offering of $500,000,000 5.75% senior unsecured notes due 2033, and other refinancing and restructuring activities related to its properties and loans.
The announcement also included a notice of default on a loan related to 650 Madison Avenue, indicating ongoing challenges in the company's financing activities. Additionally, Vornado Realty Trust provided details of its updated revolving credit facilities and unsecured term loans, as well as a restructuring agreement with Alexander's Inc. for a mortgage loan on the retail condominium at 731 Lexington Avenue.
Following these announcements, the company's shares moved 0.03%, and are now trading at a price of $33.65. If you want to know more, read the company's complete 8-K report here.
