Vornado’s portfolio is concentrated in the nation’s key market — New York City — along with the premier asset in both Chicago and San Francisco.
Undervalued established dividend payer.
Share Price & News
How has Vornado Realty Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: VNO.PRL has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: VNO.PRL underperformed the US REITs industry which returned -15.3% over the past year.
Return vs Market: VNO.PRL underperformed the US Market which returned 3.7% over the past year.
Price Volatility Vs. Market
How volatile is Vornado Realty Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Vornado Realty Trust undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: VNO.PRL ($20.57) is trading below our estimate of fair value ($28.26)
Significantly Below Fair Value: VNO.PRL is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: VNO.PRL is good value based on its PE Ratio (2.2x) compared to the REITs industry average (25.8x).
PE vs Market: VNO.PRL is good value based on its PE Ratio (2.2x) compared to the US market (15.1x).
Price to Earnings Growth Ratio
PEG Ratio: VNO.PRL's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: VNO.PRL is good value based on its PB Ratio (1.1x) compared to the US REITs industry average (1.3x).
How is Vornado Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: VNO.PRL's earnings are forecast to decline over the next 3 years (-69.3% per year).
Earnings vs Market: VNO.PRL's earnings are forecast to decline over the next 3 years (-69.3% per year).
High Growth Earnings: VNO.PRL's earnings are forecast to decline over the next 3 years.
Revenue vs Market: VNO.PRL's revenue (2.5% per year) is forecast to grow slower than the US market (8.9% per year).
High Growth Revenue: VNO.PRL's revenue (2.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: VNO.PRL's Return on Equity is forecast to be low in 3 years time (3.1%).
How has Vornado Realty Trust performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: VNO.PRL has a large one-off gain of $2.9B impacting its March 31 2020 financial results.
Growing Profit Margin: VNO.PRL's current net profit margins are higher than last year (27.8%).
Past Earnings Growth Analysis
Earnings Trend: VNO.PRL's earnings have grown significantly by 51.7% per year over the past 5 years.
Accelerating Growth: VNO.PRL's earnings growth over the past year (380.1%) exceeds its 5-year average (51.7% per year).
Earnings vs Industry: VNO.PRL earnings growth over the past year (380.1%) exceeded the REITs industry 5.3%.
Return on Equity
High ROE: Whilst VNO.PRL's Return on Equity (38.1%) is high, this metric is skewed due to their high level of debt.
How is Vornado Realty Trust's financial position?
Financial Position Analysis
Short Term Liabilities: VNO.PRL's short term assets ($2.9B) exceed its short term liabilities ($411.6M).
Long Term Liabilities: VNO.PRL's short term assets ($2.9B) do not cover its long term liabilities ($9.9B).
Debt to Equity History and Analysis
Debt Level: VNO.PRL's debt to equity ratio (101.9%) is considered high.
Reducing Debt: VNO.PRL's debt to equity ratio has reduced from 115.6% to 101.9% over the past 5 years.
Debt Coverage: VNO.PRL's debt is not well covered by operating cash flow (8.1%).
Interest Coverage: VNO.PRL's interest payments on its debt are not well covered by EBIT (2x coverage).
What is Vornado Realty Trust's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: VNO.PRL's dividend (7.73%) is higher than the bottom 25% of dividend payers in the US market (1.75%).
High Dividend: VNO.PRL's dividend (7.73%) is in the top 25% of dividend payers in the US market (4.73%)
Stability and Growth of Payments
Stable Dividend: VNO.PRL's dividend payments have been volatile in the past 10 years.
Growing Dividend: VNO.PRL's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (62.5%), VNO.PRL's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: VNO.PRL's dividends in 3 years are forecast to be thoroughly covered by earnings (0.4% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Steve Roth (77yo)
Mr. Steven Roth, also known as Steve, has been the Chairman of the Board and Chief Executive Officer at Vornado Realty Trust General Partner of Vornado Realty L.P. since May 1989 and April 15, 2013 respect ...
CEO Compensation Analysis
Compensation vs Market: Steve's total compensation ($USD11.47M) is above average for companies of similar size in the US market ($USD7.43M).
Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.
|Chairman of the Board & CEO||7.08yrs||US$11.47m||2% $138.5m|
|Executive VP||3.25yrs||US$4.46m||0.11% $7.5m|
|Executive VP of Office Leasing & Co-Head of Real Estate||13.33yrs||US$7.51m||0.054% $3.8m|
|Executive VP & Head of Retail||1.08yrs||US$26.76m||no data|
|Executive VP & Chief Accounting Officer||8yrs||no data||no data|
|Chief Information Officer & Executive VP||14.67yrs||no data||no data|
|Director of Investor Relations||no data||no data||no data|
|Executive Vice President of Tax & Compliance||3.75yrs||no data||no data|
|Vice President of Development||no data||no data||no data|
Experienced Management: VNO.PRL's management team is seasoned and experienced (5.4 years average tenure).
|Chairman of the Board & CEO||7.08yrs||US$11.47m||2% $138.5m|
|Independent Trustee||1.33yrs||US$424.61k||0.0026% $181.9k|
|Independent Trustee||41.33yrs||US$225.06k||0.28% $19.6m|
|Independent Trustee||41.33yrs||US$225.06k||0.23% $15.8m|
|Independent Trustee||38.33yrs||US$278.79k||0.014% $986.4k|
|Independent Trustee||3.42yrs||US$252.51k||no data|
|Lead Independent Trustee||4.17yrs||US$328.79k||0.0053% $370.7k|
|Independent Trustee||8.33yrs||US$272.40k||0.029% $2.0m|
|0.17yr||no data||no data|
Experienced Board: VNO.PRL's board of directors are seasoned and experienced ( 15.9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Vornado Realty Trust's company bio, employee growth, exchange listings and data sources
- Name: Vornado Realty Trust
- Ticker: VNO.PRL
- Exchange: NYSE
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$6.942b
- Market Cap: US$6.527b
- Shares outstanding: 203.27m
- Website: https://www.vno.com
Number of Employees
- Vornado Realty Trust
- 888 Seventh Avenue
- New York
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|VNO||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Jan 1968|
|VO7||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Jan 1968|
|0LR2||LSE (London Stock Exchange)||Yes||Common Shares||GB||USD||Jan 1968|
|VNO.PRL||NYSE (New York Stock Exchange)||PFD SER L 5.40%||US||USD||Jan 2013|
|VNOR.P||OTCPK (Pink Sheets LLC)||PFD CONV SER A||US||USD||Oct 2013|
|VNO.PRM||NYSE (New York Stock Exchange)||5.25% CUM PFD M||US||USD||Dec 2017|
|V1NO34||BOVESPA (Bolsa de Valores de Sao Paulo)||BDR EACH 1 REPR 1 COM||BR||BRL||Jan 2020|
Vornado’s portfolio is concentrated in the nation’s key market — New York City — along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019. In 2012, Vornado commemorated 50 years on the NYSE.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/05/26 02:02|
|End of Day Share Price||2020/05/22 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.