Vornado Realty Trust Reports Q3 Results with Focus on New York Office Leasing and Deleveraging
Vornado Realty Trust (VNO) reported a strong third quarter, highlighted by significant mark-to-market gains and same-store growth. CEO Steven Roth noted the company's performance was bolstered by tightness in the New York office market, which continues to drive favorable leasing conditions. The company provided strategic guidance focusing on long-term stability, forecasting 2.4 million square feet of leasing in New York for 2026. Additionally, management is prioritizing balance sheet strength with a target to reach low-7x leverage by the end of 2027.
Tickers: $VNO