Vornado (VNO) Q2 Net Income Jumps 1,955%
Vornado Realty Trust (NYSE:VNO), one of New York’s largest office-centric real estate investment trusts, reported second quarter 2025 earnings on August 4, 2025. Headline net income (GAAP) was $3.70 per diluted share for Q2 2025, far surpassing the prior year’s $0.18. However, this surge resulted from a non-recurring GAAP gain of $803.2 million due to a new 70-year master lease with New York University at the landmark 770 Broadway property. Core profitability was steady: funds from operations (FFO) per share, as adjusted (non-GAAP), was $0.56—almost flat to the $0.57 in the prior year, but substantially higher than the $0.12 analyst consensus. Revenue (GAAP) was $441.4 million, a 2.0% decrease year over year. Overall, the quarter’s top-line figures were shaped by unique transactions rather than broad-based operational growth.
Source: Analyst estimates for the quarter provided by FactSet.
Vornado Realty Trust is a real estate investment Trust specializing in office and retail properties, with its flagship holdings in New York City, notably Manhattan. It also holds significant assets in Chicago (THE MART, a multi-tenant office and showroom property) and San Francisco (555 California Street, a high-rise office tower), offering stability and some diversification across major urban markets.
Source Fool.com
