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Vornado Realty Trust NYSE:VNO Stock Report

Last Price

US$42.13

Market Cap

US$8.9b

7D

-1.1%

1Y

70.1%

Updated

12 Feb, 2025

Data

Company Financials +

Vornado Realty Trust

NYSE:VNO Stock Report

Market Cap: US$8.9b

VNO Stock Overview

A fully - integrated equity real estate investment trust. More details

VNO fundamental analysis
Snowflake Score
Valuation1/6
Future Growth3/6
Past Performance0/6
Financial Health1/6
Dividends3/6

Rewards

Earnings are forecast to grow 49.01% per year

Risk Analysis

Interest payments are not well covered by earnings

Unstable dividend track record

Large one-off items impacting financial results

Profit margins (0.4%) are lower than last year (2.3%)


Community Narratives

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WA
Analyst Price Target
Consensus Narrative from 14 Analysts

Manhattan's Tight Office Market May Strengthen Finances, But High Valuations Could Limit Upside

Key Takeaways A landlord's market in Manhattan, with rising rents and limited vacancies, supports Vornado's revenue growth and increased rental income. Strategic limited dividend payouts aim to boost balance sheet strength and maintain financial flexibility, affecting short-term net margins.
View narrative
US$37.75
FV
11.6% overvalued intrinsic discount
1.88%
Revenue growth p.a.
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about 1 month ago author updated this narrative

My Notes

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Vornado Realty Trust Competitors

BXP

NYSE:BXP

US$12.6b

Cousins Properties

NYSE:CUZ

US$5.2b

SL Green Realty

NYSE:SLG

US$4.9b

Kilroy Realty

NYSE:KRC

US$4.3b

Price History & Performance

Summary of share price highs, lows and changes for Vornado Realty Trust
Historical stock prices
Current Share PriceUS$42.13
52 Week HighUS$46.63
52 Week LowUS$22.42
Beta1.61
1 Month Change9.66%
3 Month Change1.18%
1 Year Change70.08%
3 Year Change-6.38%
5 Year Change-34.56%
Change since IPO2,055.18%

Recent News & Updates

Recent updates

Vornado Realty Trust: Manhattan Is The Best Office Real Estate Market In America, Preferreds Should Rally

Nov 13

Vornado: A Full Recovery Is Priced In

Nov 06

Vornado Realty Trust: My Largest Preferred Position Is The Series O

Aug 15

Vornado Realty Trust: An 8.5% Yield For 52 Cents With The Series O Preferreds

Jun 07

Vornado Realty Trust Q1 Earnings: Management Is Excited, But There Is Reason To Be Cautious

May 16

Vornado Realty: I'm Still Buying The Preferreds

Apr 01

Vornado Realty: I Backed Up The Truck Ahead Of Earnings

Jan 21

Vornado: Valuation Normalized (Downgrade To Hold)

Jan 13

Vornado: Q3 Results Point To A Steady Decline, Leaving Shares Unappealing

Oct 31

New York Office Risks Remain, But Vornado Is Appropriately Discounted

Oct 11

Vornado Realty's 8.7% Yielding Preferreds For 60 Cents On The Dollar

Sep 01

Vornado: Exceptional Results Vs. The Exceptional Debt Load

Aug 01

Vornado Realty Has Steam Heading Into Earnings After The SL Green News

Jul 10

Vornado: Landmark Transaction May Re-Rate Office REITs Higher

Jun 27

Vornado Realty Is Besieged On All Sides

May 30

Vornado Realty Trust Q4 Earnings Preview

Feb 12

Vornado Realty Trust expects $600M non-cash impairment charges in Q4

Jan 31

Vornado Realty: Avoid The Dividend Cut With The 8.6% Preferreds

Dec 28

Vornado: Expect A Dividend Cut

Dec 12

Vornado: Upside Could Offset Any Correction In The Dividend Payout

Nov 04

Vornado Realty Trust's Balance Sheet Adds To Office Woes

Oct 25

You Say Vornado, I Say Vornado

Aug 31

Vornado Realty Trust: Deal-Making Opportunities Are Brewing

Aug 03

Vornado Realty Trust declares $0.53 dividend

Jul 28

Vornado Realty Trust completes sale of a New York office building for $172.8M

Jul 05

Vornado Realty Trust: Over 6% Dividend Yield On Premier NYC Properties

May 24

Shareholder Returns

VNOUS Office REITsUS Market
7D-1.1%-2.7%-0.5%
1Y70.1%14.1%21.1%

Return vs Industry: VNO exceeded the US Office REITs industry which returned 16.7% over the past year.

Return vs Market: VNO exceeded the US Market which returned 23.1% over the past year.

Price Volatility

Is VNO's price volatile compared to industry and market?
VNO volatility
VNO Average Weekly Movement4.9%
Office REITs Industry Average Movement4.6%
Market Average Movement5.9%
10% most volatile stocks in US Market18.2%
10% least volatile stocks in US Market3.0%

Stable Share Price: VNO has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: VNO's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19462,996Steve Rothwww.vno.com

Vornado Realty Trust is a fully - integrated equity real estate investment trust.

Vornado Realty Trust Fundamentals Summary

How do Vornado Realty Trust's earnings and revenue compare to its market cap?
VNO fundamental statistics
Market capUS$8.87b
Earnings (TTM)US$8.28m
Revenue (TTM)US$1.90b

971.6x

P/E Ratio

4.2x

P/S Ratio

Is VNO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
VNO income statement (TTM)
RevenueUS$1.90b
Cost of RevenueUS$927.80m
Gross ProfitUS$972.35m
Other ExpensesUS$964.08m
EarningsUS$8.28m

Last Reported Earnings

Dec 31, 2024

Next Earnings Date

May 05, 2025

Earnings per share (EPS)0.043
Gross Margin51.17%
Net Profit Margin0.44%
Debt/Equity Ratio134.4%

How did VNO perform over the long term?

See historical performance and comparison

Dividends

1.8%

Current Dividend Yield

43%

Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/12 06:59
End of Day Share Price 2025/02/12 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Vornado Realty Trust is covered by 29 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jacob KilsteinArgus Research Company
Ross SmotrichBarclays
Brendan LynchBarclays