Vornado reports Q1 2026 loss of $22.8M, lowers FFO, announces $300M share buyback and major property deals

Vornado Realty Trust reported a net loss of $22.8 million for Q1 2026, down from a net income of $86.8 million in the prior year quarter, with adjusted funds from operations (FFO) also declining. The company announced a new $300 million share repurchase program and detailed key acquisitions including a 49% stake in Park Avenue Plaza and the purchase of 3 East 54th Street. Vornado also refinanced several properties and expects to close the Park Avenue Plaza deal in Q2 2026. Despite the loss, the company continues active portfolio management and development projects.