Vornado Realty Trust is expected to report Q3 2026 revenue of $477.39 million and Funds From Operations (FFO) of $0.64 per share, with the current stock price of $34.34 trading below the average analyst price target of $39.38.
Investors are primarily focused on the leasing momentum and occupancy levels within the Manhattan office portfolio, specifically the progress of the high-profile PENN District redevelopment.
Management has targeted a portfolio occupancy rate exceeding 93% by year-end, supported by robust demand for Class-A office space in New York. Recent positive sentiment has been bolstered by the company's successful $3.3 billion construction loan closing for the 350 Park Avenue project, which remains a cornerstone of its future development pipeline.