Vornado Realty Trust Q4 net income falls, adjusted FFO declines

Overview

• Real estate trust's Q4 net income fell to $601,000 from $1.2 mln last year

• Adjusted FFO for Q4 decreased to $112.9 mln from $117.1 mln last year

• Company acquired 3 East 54th Street for $141 mln

Outlook

• Company did not provide specific financial guidance for future quarters or full year 2026 in its press release

Result Drivers

• TERMINATION FEES - Decrease in adjusted FFO partly due to termination and recapture fees at 330 West 34th Street

• NYU MASTER LEASE - Impact of NYU master lease at 770 Broadway contributed positively to FFO

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 7 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for Vornado Realty Trust is $38.00, about 21.5% above its February 6 closing price of $31.27

Press Release: ID:nGNXBtvt4

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