About Vornado Realty Trust (NYSE:VNO)
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company's New York segment consisted of 28.3 million square feet in 86 properties. Its properties include 1290 Avenue of the Americas, Two Penn Plaza, 770 Broadway and 90 Park Avenue. As of December 31, 2016, the Company's Washington, DC segment consisted of 58 properties aggregating 14.7 million square feet, including 11.1 million square feet of office space in 44 properties, nine residential properties containing 3,156 units and a hotel property. Its properties include 2001 Jefferson Davis Highway, 223 23rd Street, 2221 South Clark Street and 1700 M Street. The Company's interests in properties are held by the Operating Partnership. As of December 31, 2016, the Company owned the 3.7 million square foot Mart (theMart) in Chicago.
Industry, Sector and Symbol:
- Industry: Commercial REITs
- Sub-Industry: Diversified REITs
- Sector: Commercial REITs - NEC
- Symbol: NYSE:VNO
- CUSIP: 92904210
- Web: www.vno.com
- Debt-to-Equity Ratio: 0.20%
- Current Ratio: 0.26%
- Quick Ratio: 0.26%
Sales & Book Value:
- Trailing P/E Ratio: 18.66
- Forward P/E Ratio: 19.44
- P/E Growth: 4.56
- Annual Sales: $2.5062 billion
- Price / Sales: 5.80
- Cash Flow: $4.23 per share
- Price / Cash: 18.09
- Book Value: $22.38 per share
- Price / Book: 3.42
- Annual Dividend: $2.40
- Dividend Yield: 3.1%
- Trailing EPS: $4.20
- Net Income: $906.91 million
- Net Margins: 35.23%
- Return on Equity: 4.73%
- Return on Assets: 1.43%
- Employees: 4,225
- Outstanding Shares: 189,880,000
Frequently Asked Questions for Vornado Realty Trust (NYSE:VNO)
What is Vornado Realty Trust's stock symbol?
Vornado Realty Trust trades on the New York Stock Exchange (NYSE) under the ticker symbol "VNO."
How often does Vornado Realty Trust pay dividends? What is the dividend yield for Vornado Realty Trust?
Vornado Realty Trust declared a quarterly dividend on Thursday, October 26th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.60 per share on Monday, November 20th. This represents a $2.40 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, November 3rd. View Vornado Realty Trust's Dividend History.
How were Vornado Realty Trust's earnings last quarter?
Vornado Realty Trust (NYSE:VNO) posted its earnings results on Monday, October, 30th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.09 by $0.90. The real estate investment trust had revenue of $528.76 million for the quarter, compared to the consensus estimate of $545.53 million. Vornado Realty Trust had a net margin of 35.23% and a return on equity of 4.73%. The company's revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. View Vornado Realty Trust's Earnings History.
When will Vornado Realty Trust make its next earnings announcement?
Where is Vornado Realty Trust's stock going? Where will Vornado Realty Trust's stock price be in 2017?
10 Wall Street analysts have issued 1 year price objectives for Vornado Realty Trust's stock. Their predictions range from $77.00 to $115.00. On average, they anticipate Vornado Realty Trust's share price to reach $92.40 in the next twelve months. View Analyst Ratings for Vornado Realty Trust.
What are Wall Street analysts saying about Vornado Realty Trust stock?
Here are some recent quotes from research analysts about Vornado Realty Trust stock:
- 1. According to Zacks Investment Research, "Shares of Vornado have underperformed its industry, in the past three months. Nevertheless, the company reported third-quarter 2017 funds from operations (FFO) per share of 52 cents, beating the Zacks Consensus Estimate by a penny. Results reflect growth in occupancy and same-store net operating income (NOI) in the New York portfolio. As part of its portfolio-repositioning efforts, the company has been aggressively disposing its assets. In July, it completed the spin-off of its Washington, DC segment. This made Vornado a New York-based office and retail REIT. Notably, the streamlining efforts are a strategic fit for the long term. Moreover, the company is expected to benefit from the improvement in the economy and the job market. However, dilutive impact on earnings from divestitures of assets cannot be bypassed in the near term. Further, intense competition and hike in interest rates remain concerns." (11/9/2017)
- 2. Evercore ISI analysts commented, "We are updating our NAV est for VNO following several media reports last week on the 666 5th Avenue office condo which is 49.5% owned by VNO with the balance owned by the Kushner Companies. The asset is not stabilized, we do not believe is being re-leased as office, and has long been a candidate for redevelopment into residential/mixed use. Based on our updated valuation for the asset ($2.85bn as-is before construction costs), our NAV and forward NAV/sh ests increased just under +2% which drives a $1/sh increase in our PT to $114. VNO notably fell -4% last week, underperforming the office sector by 320bp and all REITs by 430bp." (3/27/2017)
- 3. UBS AG analysts commented, "We think the disclosures today provide a clearer road map as to how shareholders could benefit from the spin-merger of Vornado's Washington DC business into the new entity JBG Smith, targeted for 2Q17. Pro-forma Vornado will become a purer play on the NYC market at a time when sentiment is increasing for office leasing. We still have questions about where JBG will ultimately be valued (particularly how much credit the land pipeline will get), but on paper the spin appears to unlock some hidden value." (1/25/2017)
- 4. J P Morgan Chase & Co analysts commented, "We updated our VNO model and are lowering our 2016 and 2017 FFO estimates to account for the 3Q miss and a lower GAAP NOI run-rate coming out of the quarter. Note that our estimates do not strip out VNO’s planned DC spin-merger with JBG, which is expected to close in 2Q’17; we chose this approach so as to keep earnings multiples relevant until shares of the spin are distributed." (11/30/2016)
Who are some of Vornado Realty Trust's key competitors?
Some companies that are related to Vornado Realty Trust include Digital Realty Trust (DLR), Realty Income Corporation (O), Alexandria Real Estate Equities (ARE), Federal Realty Investment Trust (FRT), VEREIT (VER), Kilroy Realty Corporation (KRC), Douglas Emmett (DEI), Land Securities Group plc (LAND), Liberty Property Trust (LPT), British Land Company PLC (BLND), DuPont Fabros Technology (DFT), SEGRO plc (SGRO), EPR Properties (EPR), STORE Capital Corporation (STOR), Equity One (EQY), Hammerson plc (HMSO), Cousins Properties Incorporated (CUZ) and PS Business Parks (PSB).
Who are Vornado Realty Trust's key executives?
Vornado Realty Trust's management team includes the folowing people:
- Steven Roth, Chairman of the Board of Trustees, Chief Executive Officer (Age 75)
- Joseph Macnow, Interim Chief Financial Officer, Executive Vice President - Finance, Chief Administrative Officer (Age 71)
- David R. Greenbaum, President - New York City Office Division (Age 65)
- Mitchell N. Schear, President - Vornado/Charles E. Smith L.P. (Age 58)
- Matthew Iocco CPA, Executive Vice President, Chief Accounting Officer, Principal Accounting Officer
- Michael J. Franco, Executive Vice President, Chief Investment Officer (Age 48)
- Candace K. Beinecke, Lead Independent Trustee (Age 70)
- Michael D. Fascitelli, Trustee (Age 60)
- Robert P. Kogod, Independent Trustee (Age 85)
- Michael Lynne, Independent Trustee (Age 75)
Who owns Vornado Realty Trust stock?
Vornado Realty Trust's stock is owned by many different of institutional and retail investors. Top institutional investors include
(5.11%), JPMorgan Chase & Co. (3.80%), Cohen & Steers Inc. (2.67%), Daiwa Securities Group Inc. (2.05%), Bank of New York Mellon Corp (1.29%) and Dimensional Fund Advisors LP (1.29%). Company insiders that own Vornado Realty Trust stock include Daniel R Tisch, Joseph Macnow, Mitchell N Schear and Russell B Wight, Jr. View Institutional Ownership Trends for Vornado Realty Trust.
Who sold Vornado Realty Trust stock? Who is selling Vornado Realty Trust stock?
Vornado Realty Trust's stock was sold by a variety of institutional investors in the last quarter, including Bank of New York Mellon Corp, PGGM Investments, Russell Investments Group Ltd., Prudential Financial Inc., Daiwa Securities Group Inc., Principal Financial Group Inc., Cohen & Steers Inc. and Ameriprise Financial Inc.. Company insiders that have sold Vornado Realty Trust company stock in the last year include Joseph Macnow and Mitchell N Schear. View Insider Buying and Selling for Vornado Realty Trust.
Who bought Vornado Realty Trust stock? Who is buying Vornado Realty Trust stock?
Vornado Realty Trust's stock was acquired by a variety of institutional investors in the last quarter, including JPMorgan Chase & Co., Long Pond Capital LP, American Century Companies Inc., Caisse DE Depot ET Placement DU Quebec, Advantus Capital Management Inc, Adelante Capital Management LLC, Legal & General Group Plc and AMP Capital Investors Ltd. Company insiders that have bought Vornado Realty Trust stock in the last two years include Daniel R Tisch and Russell B Wight, Jr. View Insider Buying and Selling for Vornado Realty Trust.
How do I buy Vornado Realty Trust stock?
Shares of Vornado Realty Trust can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Vornado Realty Trust's stock price today?
One share of Vornado Realty Trust stock can currently be purchased for approximately $76.60.
How big of a company is Vornado Realty Trust?
Vornado Realty Trust has a market capitalization of $14.59 billion and generates $2.5062 billion in revenue each year. The real estate investment trust earns $906.91 million in net income (profit) each year or $4.20 on an earnings per share basis. Vornado Realty Trust employs 4,225 workers across the globe.
How can I contact Vornado Realty Trust?
Vornado Realty Trust's mailing address is 888 7th Ave, NEW YORK, NY 10106-0001, United States. The real estate investment trust can be reached via phone at +1-212-8947000.
MarketBeat Community Rating for Vornado Realty Trust (NYSE VNO)MarketBeat's community ratings are surveys of what our community members think about Vornado Realty Trust and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Analysts' Consensus Rating for Vornado Realty Trust (NYSE:VNO) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||0 Sell Ratings, 3 Hold Ratings, 7 Buy Ratings, 0 Strong Buy Ratings|
|Consensus Rating:||Buy (Score: 2.70)|
|Consensus Price Target: ||$92.40 (20.63% upside)|
Consensus Price Target History for Vornado Realty Trust (NYSE:VNO)
Analysts' Ratings History for Vornado Realty Trust (NYSE:VNO)
(Data available from 11/18/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/19/2017||Barclays PLC||Reiterated Rating||Hold||$80.00||N/A|
|10/10/2017||Morgan Stanley||Upgrade||Equal Weight -> Overweight||$81.00 -> $84.00||N/A|
|9/26/2017||Sandler O'Neill||Reiterated Rating||Buy||$90.00||Low|
|8/30/2017||Stifel Nicolaus||Downgrade||Buy -> Hold||$86.00 -> $77.00||Low|
|8/24/2017||Argus||Upgrade||Hold -> Buy||$83.00||Low|
|8/2/2017||Evercore ISI||Reiterated Rating||Outperform||$86.00 -> $87.00||Medium|
|7/19/2017||Citigroup Inc.||Lower Price Target||Buy||$96.17 -> $92.00||High|
|6/22/2017||Bank of America Corporation||Reiterated Rating||Buy||$112.00 -> $113.00||Low|
|5/25/2017||Deutsche Bank AG||Lower Price Target||Hold||$105.00 -> $103.00||Low|
|11/30/2016||J P Morgan Chase & Co||Boost Price Target||Overweight||$110.00 -> $115.00||N/A|
|4/12/2016||Credit Suisse Group||Upgrade||Neutral -> Outperform||$108.00||N/A|
Earnings History and Estimates Chart for Vornado Realty Trust (NYSE:VNO)
Earnings History by Quarter for Vornado Realty Trust (NYSE VNO)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|10/30/2017||Q3 2017||$0.09||$0.99||$545.53 million||$528.76 million||View||N/A|
|7/31/2017||Q2 2017||$1.26||$1.35||$633.19 million||$626.04 million||View||N/A|
|5/1/2017||Q1 2017||$0.49||$1.13||$642.00 million||$620.85 million||View||Listen|
|2/13/2017||Q416||$1.31||$1.13||$637.56 million||$638.26 million||View||N/A|
|10/31/2016||Q316||$1.27||$1.24||$631.60 million||$633.20 million||View||N/A|
|8/1/2016||Q2||$1.27||$1.21||$621.30 million||$621.71 million||View||N/A|
|5/2/2016||Q1||$1.22||$1.08||$642.38 million||$613.04 million||View||N/A|
|2/16/2016||Q415||$1.29||$1.37||$641.23 million||$651.60 million||View||Listen|
|11/2/2015||Q3||$1.26||$1.25||$630.13 million||$627.60 million||View||N/A|
|8/3/2015||Q215||$1.23||$1.71||$614.56 million||$616.28 million||View||N/A|
|5/4/2015||Q115||$1.19||$1.16||$624.60 million||$606.80 million||View||N/A|
|2/18/2015||Q414||$1.23||$1.36||$677.44 million||$679.10 million||View||N/A|
|11/3/2014||Q314||$1.15||$1.15||$666.60 million||$670.90 million||View||N/A|
|8/4/2014||Q214||$1.12||$1.15||$668.27 million||$666.61 million||View||N/A|
|5/5/2014||Q114||$1.27||$1.20||$670.58 million||$660.60 million||View||N/A|
|2/24/2014||Q413||$0.29||($0.37)||$665.70 million||$673.31 million||View||Listen|
|11/5/2013||Q313||$1.10||$1.12||$665.71 million||$683.40 million||View||Listen|
|8/5/2013||Q213||$1.19||$1.25||$673.35 million||$685.86 million||View||N/A|
|5/7/2013||Q1 13||$1.88||$1.14||$649.84 million||$721.02 million||View||Listen|
|2/27/2013||Q412||$1.17||$1.22||$623.31 million||$697.65 million||View||Listen|
|11/1/2012||Q312||$1.14||$1.14||$659.00 million||$710.98 million||View||N/A|
Earnings Estimates for Vornado Realty Trust (NYSE:VNO)
2017 EPS Consensus Estimate: $4.48
2018 EPS Consensus Estimate: $3.92
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Vornado Realty Trust (NYSE:VNO)
|Dividend Growth:||-4.80% (3 Year Average)|
|Payout Ratio:||57.14% (Trailing 12 Months of Earnings) |
60.91% (Based on This Year's Estimates)
60.30% (Based on Next Year's Estimates)
Dividend History by Quarter for Vornado Realty Trust (NYSE VNO)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Vornado Realty Trust (NYSE VNO)
Insider Ownership Percentage: 9.72%
Institutional Ownership Percentage: 84.14%
Insider Trades by Quarter for Vornado Realty Trust (NYSE VNO)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|12/29/2016||Mitchell N. Schear||Insider||Sell||15,000||$102.64||$1,539,600.00|| |
|12/8/2016||Joseph Macnow||EVP||Sell||40,000||$102.98||$4,119,200.00|| |
|11/2/2016||Daniel R. Tisch||Director||Buy||50,000||$88.53||$4,426,500.00|| |
|8/17/2016||Russell B. Wight, Jr.||Director||Buy||2,000||$102.53||$205,060.00|| |
|9/22/2015||Joseph Macnow||EVP||Sell||4,500||$25.08||$112,860.00|| |
|8/24/2015||Russell B Wight Jr||Director||Buy||2,000||$88.20||$176,400.00|| |
|1/7/2015||Joseph Macnow||EVP||Sell||30,663||$121.64||$3,729,847.32|| |
|12/22/2014||Mitchell N Schear||Insider||Sell||25,000||$117.16||$2,929,000.00|| |
|11/19/2014||Richard R West||Director||Sell||26,000||$25.55||$664,300.00|| |
|10/10/2014||Michael D Fascitelli||Director||Sell||400,000||$101.39||$40,556,000.00|| |
|9/17/2014||Robert Minutoli||EVP||Buy||1,000||$103.78||$103,780.00|| |
|8/6/2014||Robert Minutoli||EVP||Buy||1,000||$105.19||$105,190.00|| |
|5/21/2014||Robert Minutoli||EVP||Buy||1,000||$105.11||$105,110.00|| |
|5/14/2014||Joseph Macnow||EVP||Sell||72,321||$105.76||$7,648,668.96|| |
|5/8/2014||Robert Minutoli||EVP||Buy||1,000||$105.04||$105,040.00|| |
|3/3/2014||Robert Minutoli||EVP||Buy||2,000||$96.65||$193,300.00|| |
|1/10/2014||Mitchell Schear||Insider||Sell||25,000||$91.26||$2,281,500.00|| |
|12/10/2013||Wendy Silverstein||EVP||Sell||15,819||$90.69||$1,434,625.11|| |
|6/10/2013||Stephen W Theriot||CFO||Buy||3,100||$81.39||$252,309.00|| |
|4/4/2013||Russell B Wight Jr||Director||Sell||10,000||$84.90||$849,000.00|| |
|8/10/2012||Daniel R Tisch||Director||Buy||5,000||$79.93||$399,650.00|| |
Headline Trends for Vornado Realty Trust (NYSE:VNO)
Latest Headlines for Vornado Realty Trust (NYSE VNO)
Vornado Realty Trust (NYSE VNO) Chart for Saturday, November, 18, 2017