Vornado Realty Trust reports Q2 2026 FFO of $0.67 and expects New York office occupancy to exceed 93% amid robust demand.
Vornado Realty Trust (VNO) posted comparable funds from operations (FFO) of $0.67 for Q2 2026, reflecting continued strength in its New York office portfolio. CEO Steven Roth highlighted a “landlord’s market,” citing accelerating leasing activity, particularly at its PENN district properties.
The company anticipates year-end occupancy levels above 93%, up from prior quarters, as demand for premium office space stabilizes. This follows a period of post-pandemic volatility, where occupancy rates lagged due to hybrid work trends. Comparable FFO matched expectations, reinforcing confidence in the sector’s recovery.
Management attributed the positive outlook to sustained tenant demand and limited new supply in key markets. No immediate market reaction was disclosed in the earnings call.