Vornado Realty Trust

Vornado Realty Trust is a real estate investment trust. The company owns office, retail, merchandise mart properties and other real estate and related investments. Its office properties include various building office complexes and the Bank of America Center in San Francisco. The company's retail properties include shopping centers and regional malls single tenant retail assets. Its other real estate and related investments include marketable securities and mezzanine loans or real estate. The company was founded by Steven Roth in 1980 and is headquartered in New York, NY.

Earnings data Q1 2021

Earnings data Q2 2021

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Earnings data Q1 2022

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Earnings data Q3 2024

Earnings data Q4 2024

Vornado Realty Trust reports mixed Q4 results, eyes NYC growth

Vornado Realty Trust navigated challenges from higher interest rates in Q4 2022, maintaining strong liquidity and strategic financial positioning.
The company's focus on New York City and successful lease negotiations showcase its resilience and ability to capitalize on market opportunities.
While facing uncertainties in 2023, Vornado remains proactive in managing its portfolio and exploring growth avenues in the retail and office sectors.
Investors should monitor Vornado's lease negotiations, financial adjustments, and potential growth in Manhattan's retail market for future performance indicators.

Vornado Realty Trust reports strategic share buyback amid leasing strength

Vornado Realty Trust's Q1 2023 performance showcased a decline in comparable FFO but strong leasing activity and a strategic share buyback program.
The company's strengths lie in leasing to financial services and law firms, creating premium tenant experiences, and maintaining a robust operational foundation.
Challenges include navigating asset sales in current market conditions and adapting to evolving office space preferences post-pandemic.
Opportunities exist in attracting major tenants, capitalizing on the return to office trend, optimizing asset sales, and adapting properties to collaborative workspaces.

Vornado Realty Trust reports mixed Q2 results, eyes portfolio resilience

Vornado Realty Trust faced challenges from higher interest rates and nonrecurring items impacting FFO, but maintained strong leasing activity in New York.
The company focused on financial stability through cash conservation, balance sheet protection, and asset sales to reduce debt.
Analysts raised concerns about pandemic effects on office space demand, while management highlighted the strength of their key portfolios.
Despite financing market constraints, Vornado's strong liquidity position and proactive measures position them well for future opportunities.

Vornado Realty Trust shows resilience amidst market challenges in Q3

Vornado Realty Trust navigates market challenges with resilience, leveraging strong leasing activity and progress on key developments. Despite a decrease in FFO, the company's strategic focus on balance sheet strength and liquidity positions it well for future opportunities and growth.

Vornado Realty Trust reports resilient Q4 performance amidst market challenges

Vornado Realty Trust navigated Q4 2023 well, with a strong focus on New York City office leasing and retail rebounding in prime locations.
While 2024 is expected to be a challenging year due to higher interest rates and turnover, the company sees opportunities for growth through decreased rates, increased occupancy, and upcoming developments.
Maintaining a strong balance sheet, focusing on New York-centric operations, and strategic refinancing efforts position Vornado for future success despite current challenges.

Vornado Realty Trust reports lower FFO but strong leasing performance

Vornado Realty Trust (VNO) navigated challenges of lower FFO with strong leasing performance and strategic financial management in Q3 2024.
The company's focus on the Manhattan office market's strengths, disciplined cash management, and growth opportunities signal resilience and strategic positioning.
Despite financial headwinds, VNO's positive leasing trends, liquidity position, and openness to acquisitions underscore a proactive approach to market dynamics.
VNO's emphasis on strategic leasing, capitalizing on market conditions, and maintaining liquidity highlight a balanced approach to navigating challenges and seizing growth opportunities.

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Vornado Realty Trust is a real estate investment trust, which engages in the ownership of office, retail, merchandise mart properties, and other real estate and related investments. It operates through the New York and Other segments. The company was founded by Steven Roth on March 29, 1993 and is headquartered in New York, NY.

The last time we covered Vornado, we moved to the sidelines.

Vornado Realty Trust: Upgrading To A Bullish View

The acquisition offers Vornado (VNO) full ownership of One Park Avenue, thereby aiding the company's long-term growth.

Vornado (VNO) Gains Full Ownership in One Park Avenue, Stock Up

NEW YORK, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it has completed its previously announced acquisition of Canada Pension Plan Investment Board's (“CPP Investments”) 45% interest in One Park Avenue, increasing Vornado's ownership interest to 100%, which was pursuant to a right of first offer. The purchase price values the property at $875 million.

Vornado Completes Acquisition of Partner's 45% Ownership Interest in One Park Avenue

Vornado Realty Trust (VNO) CEO Steven Roth on Q2 2021 Results - Earnings Call Transcript

In trading on Tuesday, shares of Vornado Realty Trust were yielding above the 5% mark based on its quarterly dividend (annualized to $2.12), with the stock changing hands as low as $41.33 on the day.

Vornado Realty Trust Crosses Above 5% Yield Territory

Vornado (VNO) registers growth in same-store NOI of the New York portfolio, theMART as well as the 555 California Street in Q2.

Vornado's (VNO) Q2 FFO In Line, Revenues Decline Y/Y, NOI Up

Vornado (VNO) delivered FFO and revenue surprises of 0.00% and -1.17%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Vornado (VNO) Q2 FFO Meet Estimates

NEW YORK, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today:

Vornado Announces Second Quarter 2021 Financial Results

While focus on having assets in selected high-rent and high barrier-to-entry markets is likely to have aided Vornado's (VNO) Q2 performance, retail store closures and bankruptcies are concerns.

What's in Store for Vornado (VNO) This Earnings Season?

NEW YORK, July 20, 2021 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that, pursuant to a right of first offer, it has agreed to acquire Canada Pension Plan Investment Board's (“CPP Investments”) 45% interest in One Park Avenue, increasing Vornado's ownership interest to 100%. The purchase price values the property at $875 million. The consideration to CPP Investments is approximately $158 million in cash plus Vornado is assuming CPP Investments' share of the existing debt. The property is currently encumbered by $525 million of debt, which bears interest at a rate of LIBOR plus 1.11% (currently 1.20%) and matures in March 2026, as fully extended.

Vornado to Increase its Ownership Interest in One Park Avenue to 100%

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We had a bullish bias on Vornado despite the notable headwinds.

Vornado: Fairly Valued For Challenges Ahead

NEW YORK, May 13, 2021 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) today announced that Vornado Realty L.P., the operating partnership through which Vornado Realty Trust conducts its business, has priced an offering of $400 million aggregate principal amount of 2.15% senior unsecured notes due June 1, 2026 and $350 million aggregate principal amount of 3.40% senior unsecured notes due June 1, 2031. Interest on the notes will be payable semi-annually on June 1 and December 1, commencing December 1, 2021. The 2026 notes were priced at 99.863% of their face amount to yield 2.179% and the 2031 notes were priced at 99.587% of their face amount to yield 3.449%. The net proceeds of approximately $743 million are intended to be allocated to Eligible Green Projects (as defined in the prospectus supplement dated May 13, 2021). Pending such allocation, the net proceeds are intended to be used for the repayment of the $675 million mortgage on theMART. Subject to customary closing conditions, the offering is expected to close on May 24, 2021.

Vornado Prices Public Offering of $750 Million of 5-Year and 10-Year Green Bonds

Vornado's (VNO) $1.2-billion refinancing of 555 California Street results in net proceeds of nearly $454 million for the company's 70% stake in the partnership for the ownership of the campus.

Vornado (VNO) Refinances 555 California Street With $1.2B Loan

NEW YORK, May 10, 2021 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) announced today that it has completed a $1.2 billion refinancing of 555 California Street, a three building 1.8 million square foot trophy office campus in San Francisco. The interest only loan bears a rate of LIBOR plus 1.93% in years one through five, LIBOR plus 2.18% in year six and LIBOR plus 2.43% in year seven. The loan matures in May 2028, as fully extended. Vornado swapped its share of the loan for the first three years to a fixed rate of 2.26%.

Vornado Completes $1.2 Billion Refinancing of 555 California Street

Vornado Realty Trust and Alexander's, Inc. (ALX) CEO Steven Roth on Q1 2021 Results - Earnings Call Transcript

Vornado Realty Trust (VNO) CEO Steven Roth on Q1 2021 Results - Earnings Call Transcript

Occupancy erosions in first-quarter 2021 hinder Vornado's (VNO) same-store NOI growth for the New York portfolio as well as theMART.

Vornado (VNO) Q1 FFO Tops Estimates, Revenues & NOI Down Y/Y

Vornado (VNO) delivered FFO and revenue surprises of 3.17% and -1.19%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Vornado (VNO) Tops Q1 FFO Estimates

NEW YORK , May 03, 2021 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today:

Vornado Announces First Quarter 2021 Financial Results

Despite anticipated gains from the sale of condominium units, Vornado's (VNO) Q1 results are likely to reflect the impacts of trade show cancellations and retail headwinds.

Vornado (VNO) to Post Q1 Earnings: What's in the Offing?

NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today the promotion of Jan LaChapelle, age 44, to Executive Vice President – Head of Capital Markets. Ms. LaChapelle joined Vornado in 2014 and was most recently Senior Vice President of Capital Markets. Prior to joining Vornado, Ms. LaChapelle was a member of Wells Fargo's real estate banking group for ten years. Ms. LaChapelle will report to Michael J. Franco, Vornado's President and Chief Financial Officer.

Vornado Promotes Jan LaChapelle to Executive Vice President – Head of Capital Markets

NEW YORK, April 12, 2021 (GLOBE NEWSWIRE) -- VORNADO REALTY TRUST (NYSE: VNO) announced today that it released its 2020 Environmental, Social, & Governance (“ESG”) report.

News for Vornado Realty Trust Stock (VNO)