Vornado Realty Trust

VNO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Vornado Earnings: Manhattan Portfolio's Outlook Improves; Full Recovery Will Take a Few More Years

Suryansh Sharma

Nov 4, 2025

Vornado's third-quarter adjusted funds from operations were $0.57 per share, 9.6% higher on a year-over-year basis. The headline FFO number was affected by higher net operating income from variable businesses and new rent commencements, partially offset by lower NOI from asset sales.

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Vornado Realty Trust

Vornado Earnings: Manhattan Portfolio's Outlook Improves; Full Recovery Will Take a Few More Years

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