Vornado Q4 2023 net loss narrows to $61.0 million; FFO falls to $0.62 per share
Vornado Realty Trust reported a fourth-quarter 2023 net loss attributable to common shareholders of $61.0 million, or $0.32 per diluted share, compared with a $493.3 million loss a year earlier. Results included $72.7 million of impairment losses, and adjusted FFO fell to $123.8 million, or $0.63 per diluted share, from $139.0 million, or $0.72, a year earlier, so the smaller GAAP loss does not reflect stronger operating earnings.
- Q4 2023 net loss attributable to common shareholders: $61,013,000 ($0.32 per diluted share), vs. $493,280,000 ($2.57) in Q4 2022
- Q4 2023 FFO attributable to common shareholders plus assumed conversions: $121,105,000 ($0.62 per diluted share); as adjusted, $123,751,000 ($0.63) vs. $139,041,000 ($0.72)
- Full-year 2023 net income attributable to common shareholders: $43,378,000 ($0.23 per diluted share), vs. a $408,615,000 loss in 2022
- Board declared a $0.30 per common share dividend on December 5, 2023