Core Insights - Vornado Realty Trust's second-quarter 2025 adjusted funds from operations (FFO) were 56 cents per share, exceeding the Zacks Consensus Estimate of 53 cents, but reflecting a 1.8% decline year over year [1][11] - Total revenues for the quarter were $441.4 million, falling short of the Zacks Consensus Estimate of $455.4 million, and representing a nearly 2% decrease year over year [2] Financial Performance - Total same-store net operating income (NOI) for the quarter was $260.8 million, up from $247.4 million in the prior-year quarter, with increases in the New York, THE MART, and 555 California Street portfolios of 1.8%, 57.7%, and 3.1% respectively [3][11] - The New York office portfolio saw leasing of 1,479,000 square feet at an initial rent of $101.44 per square foot, with a weighted average lease term of 6.8 years [4] - In the New York retail portfolio, 57,000 square feet were leased at an initial rent of $96.77 per square foot, with a weighted average lease term of 8.1 years [5] - At THE MART, 127,000 square feet were leased at an initial rent of $50.87 per square foot, with a weighted average lease term of 5.6 years [6] Portfolio Activity - A joint venture with a 55% interest sold 512 West 22nd Street, a 173,000 square foot office building, for $205 million [8] - Another joint venture with a 50% interest completed the sale of the 49 West 57th Street commercial condominium during the same period [8] Occupancy Rates - The total New York portfolio occupancy was 85.2%, down 310 basis points year over year, while THE MART's occupancy was 78.2%, up 130 basis points year over year, and 555 California Street's occupancy was 92.3%, down 220 basis points year over year [7] Balance Sheet - Vornado ended the quarter with cash and cash equivalents of $1.2 billion, an increase from $568.9 million as of March 31, 2025 [9]

Vornado Realty Trust (VNO) Q2 2025 Earnings Call August 05, 2025 10:00 AM ET Company ParticipantsSteven Borenstein - EVP & Corporation CounselSteven Roth - Chairman and Chief Executive OfficerMichael Franco - President & CFOGlen Weiss - Executive VP of Office Leasing & Co-Head of Real EstateFloris van Dijkum - MD & Equity ResearchJohn Kim - MD - U.S. Real EstateJana Galan - DirectorVikram Malhotra - Managing DirectorCaitlin Burrows - Vice PresidentRonald Kamdem - MD & Head - US REITs and CRE ResearchBrendan ...

Vornado Realty Trust (VNO) Q2 2025 Earnings Call August 05, 2025 10:00 AM ET Speaker0Good morning, and welcome to the Vornado Realty Trust Second Quarter twenty twenty five Earnings Call. My name is Michael, and I will be your operator for today's call. This call is being recorded for replay purposes. All lines are in a listen only mode. Our speakers will address your questions at the end of the presentation during the question and answer session.I will now turn the call over to Mr. Steve Borenstein, Execut ...

Core Insights - Vornado reported $441.44 million in revenue for the quarter ended June 2025, reflecting a year-over-year decline of 2% and a surprise of -3.06% compared to the Zacks Consensus Estimate of $455.38 million [1] - The EPS for the same period was $0.56, which is an increase from $0.18 a year ago, resulting in an EPS surprise of +5.66% against the consensus estimate of $0.53 [1] Financial Performance Metrics - Total Property Square Feet in New York was reported at 20,857.00 Ksq ft, slightly below the average estimate of 20,893.00 Ksq ft [4] - Occupancy rates in New York were 85.2%, exceeding the average estimate of 84.3% [4] - New York Retail occupancy was reported at 67.7%, lower than the average estimate of 72.1% [4] - New York Office occupancy was 86.7%, in line with the average estimate of 86.6% [4] - Total revenues from Other sources were $83.27 million, surpassing the average estimate of $79.58 million, marking a year-over-year increase of +0.7% [4] - Total revenues from New York were $358.17 million, below the average estimate of $376.94 million, representing a -2.6% change year-over-year [4] - Management and Leasing Fees generated $2.93 million, significantly lower than the average estimate of $3.74 million, indicating a -56.4% year-over-year decline [4] - Total revenues from Fee and Other Income were $59.19 million, exceeding the average estimate of $54.81 million, reflecting a +4.4% year-over-year change [4] - BMS Cleaning Fees totaled $37.43 million, slightly above the average estimate of $37.11 million, showing a -2.7% change year-over-year [4] - Other income from Fee and Other Income was $18.83 million, surpassing the average estimate of $15.06 million, with a year-over-year increase of +63.8% [4] - Total rental revenues were reported at $382.25 million, below the average estimate of $400.52 million, indicating a -2.9% change year-over-year [4] - Property rentals generated $332.18 million, lower than the average estimate of $351.66 million, reflecting a -3.4% year-over-year change [4]

INDEX | | Page | | --- | --- | | BUSINESS DEVELOPMENTS | 3 - 4 | | FINANCIAL INFORMATION | | | Financial Highlights | 5 | | FFO, As Adjusted Bridge | 6 | | Net Operating Income, EBITDAre, FFO and FAD | 7 | | Consolidated Balance Sheets | 8 | | Net Income Attributable to Common Shareholders (Consolidated and by Segment) | 9 - 11 | | Net Operating Income at Share and Net Operating Income at Share - Cash Basis by Segment and Subsegment | 12 | | Same Store NOI at Share and Same Store NOI at Share - Cash Basis | ...

NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended June 30, 2025 Financial Results NET INCOME attributable to common shareholders for the quarter ended June 30, 2025 was $743,819,000, or $3.70 per diluted share, compared to $35,260,000, or $0.18 per diluted share, for the prior year's quarter. The increase is primarily due to the $803,248,000 gain related to the 770 Broadway master lease with New York University ("NYU"). FUNDS FROM OPERATIONS ("FFO") a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark one) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 Or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File Number: 001-11954 (Vornado Realty Trust) Commission File Number: 001-34482 (Vornado Realty L.P.) Vornado Realty Trust Vornado Realty L.P. (Exa ...

Core Insights - Verizon will relocate its New York headquarters to Vornado's PENN 2 office tower as part of a 19-year lease, occupying nearly 200,000 square feet of office space [2][3] - The PENN 2 building features modern amenities, including over 25,000 square feet of outdoor space and a flagship retail location for Verizon [3][4] - Vornado's PENN DISTRICT aims to create a vibrant corporate environment, integrating dynamic workspaces and employee-focused design [4][6] Company Overview - Vornado Realty Trust is a fully integrated real estate investment trust (REIT) with a focus on premier office and retail assets in New York City, Chicago, and San Francisco [10] - The company emphasizes sustainability, with 100% of its in-service office buildings LEED certified and over 95% certified LEED Gold or Platinum [10] Project Details - PENN 2 includes a modern curtain wall, a triple-height lobby, and 30,000 square feet of curated retail space, along with extensive outdoor green spaces [4][5] - The PENN DISTRICT campus, which includes PENN 1 and PENN 2, offers a total of 4.4 million square feet of premium office space and improved access to public transportation [6][8] - Tenants in the PENN DISTRICT have access to Vornado's WorkLife program, which includes a comprehensive amenity package featuring a wellness center and flexible workspaces [7]

Verizon will open a new Manhattan headquarters at Vornado Realty Trust’s Penn 2, a redeveloped office tower near Penn Station https://t.co/ChcpyLhh2B ...

Core Points - Alexander's, Inc. will file its quarterly report on Form 10-Q for the quarter ended June 30, 2025, and will issue its second quarter earnings release on August 4, 2025, before the market opens [1] - Vornado Realty Trust, which manages Alexander's operations, will host a quarterly earnings conference call on August 5, 2025, at 10:00 a.m. ET, where information regarding Alexander's may be discussed [2] - The conference call will be accessible via phone and a live webcast will be available on Vornado's website, with playback options following the call [3] Company Overview - Alexander's, Inc. is a real estate investment trust (REIT) that owns five properties in New York City [3]