Is Stronger-Than-Expected FFO Recasting the Manhattan Office Story for Vornado Realty Trust (VNO)?
Vornado Realty Trust reported stronger-than-expected comparable funds from operations (FFO) in Q2 2026, driven by PENN District lease commencements and rising Manhattan office occupancy, despite a headline earnings drop. This performance re-evaluates the investment narrative for VNO, focusing on whether improved occupancy and leasing …