Vornado Q1 net loss $22.8M, FFO as adj $0.52 vs $0.63; new $300M buyback

VORNADO REALTY LP

Net loss $22.8M (diluted EPS -$0.12) vs net income $86.8M ($0.43) in Q1 2025; FFO as adj $0.52 vs $0.63.
New $300M share buyback authorized; repurchased 2.7M shares at $29.08 avg in Q1.
Agreed to buy 49% stake in Park Avenue Plaza ($1.1B valuation); Alexander's Rego Park I sale for $235.5M yields ~$44M gain.
Financing: $500M 5.75% notes due 2033; One Park Ave refinanced at SOFR+1.78%; 888 Seventh Ave default with forbearance through Mar 2027.
Same-store NOI: NY +6.1%, THE MART +0.3%, 555 California -21.5% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VORNADO REALTY LP reported first quarter of 2026 results: net income $22,842,000, or $0.12 per diluted share.

Period: first quarter of 2026
Net income: $22,842,000, or $0.12 per diluted share
Result: reported results

Exact text from the filing

NET LOSS attributable to common shareholders for the quarter ended March 31, 2026 was $22,842,000, or $0.12 per diluted share, compared to net income attributable to common shareholders of $86,842,000, or $0.43 per diluted share, for the prior year's quarter.

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Source: SEC EDGAR

accession 0000899689-26-000028

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