Vornado Realty Trust
About: Vornado owns and has an ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.
Employees: 2,996
0
Funds holding %
of 7,372 funds
0
Analysts bullish %
of 5 analysts
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
56% more first-time investments, than exits
New positions opened: 61 | Existing positions closed: 39
21% more capital invested
Capital invested by funds: $6.14B [Q3] → $7.43B (+$1.29B) [Q4]
11.09% more ownership
Funds ownership: 81.71% [Q3] → 92.8% (+11.09%) [Q4]
4% more funds holding
Funds holding: 365 [Q3] → 380 (+15) [Q4]
4% more repeat investments, than reductions
Existing positions increased: 130 | Existing positions reduced: 125
0% more funds holding in top 10
Funds holding in top 10: 4 [Q3] → 4 (+0) [Q4]
27% less call options, than puts
Call options by funds: $57.9M | Put options by funds: $79M
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$28
24%
downside
Avg. target
$36
1%
downside
High target
$48
30%
upside
5 analyst ratings
1 positive
20%
2 neutral
40%
2 negative
40%
Barclays Ross Smotrich 25% 1-year accuracy 1 / 4 met price target | 13%downside $32 | Underweight Maintained | 14 Mar 2025 |
Morgan Stanley Ronald Kamdem 53% 1-year accuracy 8 / 15 met price target | 24%downside $28 | Equal-Weight Maintained | 14 Mar 2025 |
Goldman Sachs Caitlin Burrows 46% 1-year accuracy 12 / 26 met price target | 19%downside $30 | Sell Maintained | 25 Feb 2025 |
Compass Point Floris Van Dijkum 35% 1-year accuracy 7 / 20 met price target | 20%upside $44 | Neutral Maintained | 12 Feb 2025 |
Mizuho Vikram Malhorta 77% 1-year accuracy 10 / 13 met price target | 30%upside $48 | Outperform Upgraded | 7 Jan 2025 |
Financial journalist opinion
Based on 5 articles about VNO published over the past 30 days
Neutral
Zacks Investment Research
3 days ago
Should You Retain Vornado Realty Stock in Your Portfolio Now?
VNO's premium assets in select high-rent markets and portfolio-repositioning efforts augur well despite ongoing choppiness in the office real estate market.
Positive
Seeking Alpha
2 weeks ago
Vornado Realty: O Series Might Be The Best Option Right Now
The return-to-office trend has boosted Vornado Realty Trust's common shares, yet valuation concerns and a lower dividend yield likely make it a less attractive option. Vornado's 4.45% CUM PFD O shares offer an alternative, yielding 5%+ higher than Vornado's common shares. Moreover, O Series possesses less implied call and spread risk than other cumulative perpetuals. Some might reduce exposure to Vornado after its year-over-year run. However, reasons to maintain exposure to Vornado include, a systematic recovery in offices and optimism about PENN 2.
Positive
Seeking Alpha
2 weeks ago
REIT Replay: REIT Share Prices Tick Up During Week Ended Feb. 21
Share prices for US equity real estate investment trusts ticked up slightly during the week ended Feb. 21, outperforming the broader stock market. Looking at the Dow Jones US real estate property sector indexes, the retail REIT index logged the largest increase during the recent week, up 0.84%, followed by the apartment REIT index at 0.80%.
Positive
Seeking Alpha
3 weeks ago
Vornado Realty Trust Q4 Earnings: If You Want Office, Buy The Best
The office market continues to struggle post-pandemic, with high vacancy rates and distressed assets, but top operators like VNO are showing resilience. VNO's strong Q4 2024 earnings and significant leasing activity in NYC indicate a potential market recovery, with shares appreciating over 70% in the past year. VNO's strategic share repurchases and operational efficiencies have contributed to its success, despite the broader market challenges and high vacancy rates in Manhattan.
Positive
Seeking Alpha
4 weeks ago
Vornado Realty: I'm Buying The Dip In The Series O Preferreds As Manhattan Office Demand Soars
Vornado Realty Trust's shares are up more than 60% as the REIT recorded a strong fiscal 2024 fourth quarter earnings beat, despite a slight FFO dip. VNO's Series O preferreds trade at a significant discount to their liquidation value with a 7.5% yield on cost due to the high risk-free rate and perceived office property risks. Manhattan's office leasing market is robust, with VNO's occupancy projected to exceed 90% by 2025, bolstered by NYU's master lease and Penn 2's leasing.
Neutral
Seeking Alpha
1 month ago
Vornado Realty Trust (VNO) Q4 2024 Earnings Call Transcript
Vornado Realty Trust (NYSE:VNO ) Q4 2024 Earnings Conference Call February 11, 2025 10:00 AM ET Company Participants Steven Borenstein - Senior Vice President & Corporate Counsel Steven Roth - Chairman & Chief Executive Officer Michael Franco - President & Chief Financial Officer Glen Weiss - Executive Vice President, Office Leasing & Co-Head, Real Estate Conference Call Participants Steve Sakwa - Evercore ISI John Kim - BMO Capital Markets Jeff Spector - Bank of America Dylan Burzinski - Green Street Capital Floris van Dijkum - Compass Point Michael Griffin - Citi Vikram Malhotra - Mizuho Securities Michael Lewis - Truist Securities Alexander Goldfarb - Piper Sandler Ronald Kamdem - Morgan Stanley Anthony Paolone - JPMorgan Nick Yulico - Scotiabank Brendan Lynch - Barclays Operator Good morning and welcome to the Vornado Realty Trust Fourth Quarter 2024 Earnings Conference Call. My name is Betsy [ph] and I will be your operator for today's call.
Positive
Zacks Investment Research
1 month ago
Vornado's Q4 FFO & Revenues Beat Estimates, Same-Store NOI Declines
VNO's Q4 results reflect better-than-anticipated revenues on decent leasing activity. However, total same-store NOI declines across the portfolio.
Positive
Zacks Investment Research
1 month ago
Vornado (VNO) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
Although the revenue and EPS for Vornado (VNO) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Positive
Zacks Investment Research
1 month ago
Vornado (VNO) Tops Q4 FFO and Revenue Estimates
Vornado (VNO) came out with quarterly funds from operations (FFO) of $0.61 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to FFO of $0.63 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
Vornado Announces Fourth Quarter 2024 Financial Results
NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended December 31, 2024 Financial Results NET INCOME attributable to common shareholders for the quarter ended December 31, 2024 was $1,203,000, or $0.01 per diluted share, compared to a net loss attributable to common shareholders of $61,013,000, or $0.32 per diluted share, for the prior year's quarter. FUNDS FROM OPERATIONS ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) for the quarter ended December 31, 2024 was $117,085,000, or $0.58 per diluted share, compared to $121,105,000, or $0.62 per diluted share, for the prior year's quarter.
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