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

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Earnings data Q1 2022

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Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

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.

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Vornado's (VNO) 29.2% cut in the quarterly dividend reflects its reduced projection for 2023 taxable income mainly due to higher interest expenses.

Vornado (VNO) Announces a 29.2% Cut in Quarterly Dividend

Shares of Vornado Realty Trust VNO, -0.99% sank 3.7% in premarket trading Thursday, after the New York-based commercial-focused real estate investment trust slashed its quarterly dividend by 29% to 37.5 cents a share. Based on Wednesday's closing price, the dividend cut lowers the implied dividend yield to 6.50% from 9.19%, but that's still well above the yield for the Real Estate Select Sector SPDR ETF XLRE, -1.54% of 3.5%, and nearly four-times the S&P 500's SPX, -1.56% implied yield of 1.72.

Commercial REIT Vornado stock falls after dividend cut, but yield is still above 6%

Vornado Realty Trust VNO, -0.99% said late Wednesday its board has trimmed the company's dividend to 37.5 cents a share, from 53 cents a share, thanks to “the current state of the economy and capital markets.” The reduced dividend is also a reflection of Vornado's reduced projected 2023 taxable income, mostly thanks to higher interest expenses, the company said.

Vornado Realty cuts dividend, blaming it on ‘state of the economy'

NEW YORK, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its Board of Trustees has declared a reduced quarterly dividend of $.375 per share. The decrease is in recognition of the current state of the economy and capital markets and is reflective of Vornado's reduced projected 2023 taxable income, primarily due to higher interest expense.

Vornado Declares Quarterly Common Dividend of $.375 Per Share

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The office real estate market continues to weaken.

Why Vornado Stock Was Falling in December

Vornado is offering a huge 9.8% yield, but investors shouldn't go in expecting the dividend to hold.

Expect This High-Yield Stock to Cut Its Dividend

Vornado Realty's FFO is facing pressure due to the rising rate environment. The REIT has indicated that its Board of Trustees plans to rightsize the dividend in 2023 to enable them to retain more cash.

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

Vornado (VNO) and Rudin announce agreements with Citadel and KG in connection with a set of transactions outlined for their 350 Park Avenue and 40 East 52nd Street properties.

Vornado (VNO) and Rudin Unveil Agreements on Office Buildings

Vornado has a high-quality portfolio of assets primarily centered around New York. Its PENN District project is progressing along, and management is making moves to protect the balance sheet.

Vornado: Expect A Dividend Cut

NEW YORK, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) and Rudin today announced that they have reached agreements with Citadel Enterprise Americas LLC (“Citadel”) and with an affiliate of Kenneth C. Griffin, Citadel's Founder and CEO (“KG”), on a series of transactions relating to 350 Park Avenue and 40 East 52nd Street. Effectiveness of the agreements is subject to the receipt of certain third-party approvals which the parties expect to receive within the next 35 days.

Vornado and Rudin Announce Agreements with Respect to 350 Park Avenue and 40 East 52nd Street

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Vornado (VNO) reported earnings 30 days ago. What's next for the stock?

Vornado (VNO) Up 9.1% Since Last Earnings Report: Can It Continue?

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NEW YORK, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today it has received the following awards reflecting its continued industry-leading commitment to environmental, social, and governance (ESG) practices:

Vornado Continues its Leadership in ESG Earning Top GRESB Ratings and Receiving NAREIT's Leader in the Light Award

Vornado is an office-focused REIT with a significant operating presence in the heart of New York City. The company reported generally positive quarterly results for the period ended September 30, 2022. But it did come with a surprising update on the current dividend payout.

Vornado: Upside Could Offset Any Correction In The Dividend Payout

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Vornado Realty Trust (NYSE:VNO ) Q3 2022 Earnings Conference Call November 1, 2022 10:00 AM ET Company Participants Steven Borenstein - Senior Vice President and Corporation Counsel Steven Roth - Chief Executive Officer Michael Franco - President and Chief Financial Officer Glen Weiss - Executive Vice President, Office Leasing and Co-Head of Real Estate Thomas Sanelli - Executive Vice President, Finance and Chief Administrative Officer Conference Call Participants Steve Sakwa - Evercore Inc. Michael Griffin - Citigroup Inc. Camille Bonnel - Bank of America Alexander Goldfarb - Piper Sandler John Kim - BMO Capital Markets Daniel Ismail - Green Street Advisors, LLC Derek Johnston - Deutsche Bank Anthony Paolone - JPMorgan Chase & Co. Nicholas Yulico - Scotiabank Ronald Kamdem - Morgan Stanley Vikram Malhotra - Mizuho Securities Co., Ltd. Operator Welcome to the Vornado Realty Trust Earnings and Webcast for the Third Quarter of 2022.

Vornado Realty Trust (VNO) Q3 2022 Earnings Call Transcript

Vornado (VNO) reports better-than-expected third-quarter 2022 performance driven by decent top-line growth. Healthy leasing activity was noticed across all portfolios.

Vornado's (VNO) FFO and Revenues Surpass Estimates in Q3

Vornado (VNO) delivered FFO and revenue surprises of 9.46% and 5.70%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Vornado (VNO) Q3 FFO and Revenues Beat Estimates

NEW YORK , Oct. 31, 2022 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today:

Vornado Announces Third Quarter 2022 Financial Results

NEW YORK, Oct. 27, 2022 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its Board of Trustees has declared a regular quarterly dividend of $.53 per share, payable on November 18, 2022 to common shareholders of record on November 7, 2022.

Vornado Declares Quarterly $.53 Dividend On Common Shares

Higher rates and questions over long-term demand for office space have been a headwind for Vornado Realty Trust shares, and now is not the time to buy. NYC office occupancy is low, and Vornado Realty Trust is likely to face declining occupancy as it struggles to renew existing leases, making the viability of growth projects questionable.

Vornado Realty Trust's Balance Sheet Adds To Office Woes

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News for Vornado Realty Trust Stock (VNO)