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.

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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.

NEW YORK, April 17, 2024 (GLOBE NEWSWIRE) -- SL Green Realty Corp. (NYSE: SLG) and Vornado Realty Trust (NYSE: VNO) closed on a modification and extension of the $1.075 billion securitized mortgage on 280 Park Avenue. The modification extended the maturity date to September 2026, with the partnership's option to extend to a fully extended maturity date of September 2028. The interest rate was maintained through the fully extended maturity date at 1.78% over Term SOFR.

SL Green and Vornado Announce 280 Park Avenue Mortgage Loan Refinancing

NEW YORK, April 10, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) announced today that it released its 2023 Sustainability Report.

Vornado Releases 2023 Sustainability Report

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Vornado Realty's common shares have rallied from record lows, partially driven by its strong development and leasing pipeline. There is a 40% probability of the Fed cutting rates by 75 basis points to exit 2024, which could lead to further expansion of the VNO's FFO multiple. This should also boost the value of the preferreds which are trading at significant discounts to their liquidation value.

Vornado Realty: I'm Still Buying The Preferreds

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Vornado Realty (VNO) is well-poised to gain from its high-quality assets. However, the overall choppy office real estate landscape and high interest rates are woes.

Here's Why You Should Retain Vornado Realty (VNO) Stock Now

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NEW YORK, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that The Avra Group will open its famed Mediterranean restaurant in THE PENN DISTRICT, one of the most desirable and convenient locations in Manhattan, sitting directly atop Penn Station.

Vornado Realty Trust Announces Famed Avra Group Will Open a New 20,000 SF Restaurant in THE PENN DISTRICT

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Vornado Realty Trust (VNO) Q4 2023 Earnings Call Transcript

Vornado's (VNO) Q4 results reflect lower-than-anticipated revenues despite decent leasing activity. The total same-store NOI declined across the portfolio.

Vornado's (VNO) Q4 FFO Beats Estimates, Same-Store NOI Declines

Vornado (VNO) came out with quarterly funds from operations (FFO) of $0.63 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to FFO of $0.72 per share a year ago.

Vornado (VNO) Q4 FFO Top Estimates

NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended December 31, 2023 Financial Results NET LOSS attributable to common shareholders for the quarter ended December 31, 2023 was $61,013,000, or $0.32 per diluted share, compared to $493,280,000, or $2.57 per diluted share, for the prior year's quarter. Adjusting for the items that impact period-to-period comparability listed in the table on the following page, net income attributable to common shareholders, as adjusted (non-GAAP) for the quarter ended December 31, 2023 was $8,040,000, or $0.04 per diluted share, and $19,954,000, or $0.10 per diluted share for the quarter ended December 31, 2022.

Vornado Announces Fourth Quarter 2023 Financial Results

Get a deeper insight into the potential performance of Vornado (VNO) for the quarter ended December 2023 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Curious about Vornado (VNO) Q4 Performance? Explore Wall Street Estimates for Key Metrics

Vornado Realty's preferred shares are trading at a near 40% discount to their liquidation value. I've been buying the Series N, which currently offers an 8.56% yield on cost. VNO currently spends $15.5 million per quarter on quarterly payments to its preferred shareholders. These payments were 7.74x covered by FFO generated during its last reported quarter.

Vornado Realty: I Backed Up The Truck Ahead Of Earnings

NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that it will file its annual report on Form 10-K for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission and issue its fourth quarter and full year earnings release on Monday, February 12, 2024, after the New York Stock Exchange has closed. The Company will host a quarterly earnings conference call and an audio webcast on Tuesday, February 13, 2024 at 10:00 a.m. Eastern Time (ET).

Vornado Announces Fourth Quarter Earnings Release Date, Conference Call Information and Anticipated Preferred Share Dividend Declaration Date

Vornado Realty Trust's shares have appreciated by almost 70% due to improved risk sentiment. The stock's steep discount to book value has been closed. However, office real estate fundamentals remain challenging, with vacancy rates at all-time highs. Vornado also has a heavy debt load that will be refinanced at higher rates in the coming quarters.

Vornado: Valuation Normalized (Downgrade To Hold)

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KCI Research On REITs, Dividends And Contrarian Investing

NEW YORK, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) today named Cushman & Wakefield as the exclusive leasing agent of PENN 2, its 1.8 million square-foot PENN DISTRICT office tower.

Vornado Realty Trust Names Cushman & Wakefield to Launch Leasing Program at Reinvented PENN 2 Office Tower in the Heart of Vornado's PENN DISTRICT Campus

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Vornado (VNO) cuts its fourth-quarter dividend by 20% to 30 cents per common share, to focus on maintaining its retained cashflows and balance sheet strength. It expects to pay a single dividend in 2024.

Vornado (VNO) Cuts Dividend by 20%, to Pay One Dividend in 2024

NEW YORK, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its Board of Trustees has declared a dividend of $.30 per common share. The dividend will be payable on December 27, 2023 to shareholders of record on December 15, 2023. Together with the $.375 per share common dividend already paid in the first quarter of 2023, this results in an aggregate 2023 common dividend of $.675 per common share.

Vornado Declares Common Dividend of $.30 Per Share

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