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:
- Sector: Finance
- Industry: Commercial REITs - NEC
- Sub-Industry: Diversified REITs
- Symbol: NYSE:VNO
- CUSIP: 92904210
- Web: www.vno.com
- Market Cap: $14.89948 billion
- Outstanding Shares: 189,343,000
- 50 Day Moving Avg: $76.18
- 200 Day Moving Avg: $81.05
- 52 Week Range: $69.81 - $90.32
Sales & Book Value:
- Trailing P/E Ratio: 15.20
- Foreward P/E Ratio: 20.55
- P/E Growth: 1.87
- Annual Revenue: $2.69 billion
- Price / Sales: 5.54
- Book Value: $30.65 per share
- Price / Book: 2.57
- Annual Dividend: $2.84
- Dividend Yield: 3.6%
- EBIDTA: $1.4 billion
- Net Margins: 42.35%
- Return on Equity: 6.84%
- Return on Assets: 2.07%
- Debt-to-Equity Ratio: 0.13%
- Current Ratio: 0.27%
- Quick Ratio: 0.27%
- Average Volume: 1.29 million shs.
- Beta: 0.96
- Short Ratio: 2.45
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 Wednesday, April 26th. Stockholders of record on Monday, May 8th will be paid a dividend of $0.71 per share on Friday, May 19th. This represents a $2.84 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, May 4th. View Vornado Realty Trust's Dividend History.
How were Vornado Realty Trust's earnings last quarter?
Vornado Realty Trust (NYSE:VNO) announced its quarterly earnings results on Monday, May, 1st. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.49 by $0.64. The business earned $620.85 million during the quarter, compared to analyst estimates of $642 million. Vornado Realty Trust had a return on equity of 6.84% and a net margin of 42.35%. Vornado Realty Trust's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.61) 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?
8 brokerages have issued 12-month price targets for Vornado Realty Trust's shares. Their predictions range from $81.00 to $115.00. On average, they anticipate Vornado Realty Trust's share price to reach $99.00 in the next twelve months. View Analyst Ratings for Vornado Realty Trust.
What are 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 underperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. Also, the second quarter 2017 funds from operations (FFO) per share estimates declined in the last 30 days. In May, Vornado came out with lower-than-expected first-quarter 2017 FFO per share, reflecting a fall in occupancy in the Washington DC portfolio. As part of its portfolio-repositioning efforts, the company is aggressively disposing its assets, which has earnings dilutive effects. Further, stiff competition and hike in interest rates remain its concerns. Nevertheless, Vornado has Class A office assets located in high-rent, high barrier-to-entry markets and a diverse tenant base. Also, strategic acquisitions and divestitures including spin-offs and a decent New York business have the capability to drive long-term growth." (6/14/2017)
- 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), Land Securities Group plc (LAND), Kilroy Realty Corporation (KRC), British Land Company PLC (BLND), Liberty Property Trust (LPT), Douglas Emmett (DEI), EPR Properties (EPR), Biomed Realty Trust (BMR), Hammerson plc (HMSO), Dupont Fabros Technology (DFT), STORE Capital Corporation (STOR), SEGRO plc (SGRO), Cousins Properties Incorporated (CUZ) and Intu Properties PLC (INTU).
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
- Joseph Macnow, Interim Chief Financial Officer, Executive Vice President - Finance, Chief Administrative Officer
- David R. Greenbaum, President - New York City Office Division
- Mitchell N. Schear, President - Vornado/Charles E. Smith L.P.
- Matthew Iocco CPA, Executive Vice President, Chief Accounting Officer, Principal Accounting Officer
- Michael J. Franco, Executive Vice President, Chief Investment Officer
- Candace K. Beinecke, Lead Independent Trustee
- Michael D. Fascitelli, Trustee
- Robert P. Kogod, Independent Trustee
- Michael Lynne, Independent Trustee
Who owns Vornado Realty Trust stock?
Vornado Realty Trust's stock is owned by many different of institutional and retail investors. Top institutional shareholders include APG Asset Management US Inc. (2.73%), Bank of Montreal Can (0.12%), National Pension Service (0.08%), Chevy Chase Trust Holdings Inc. (0.08%), Real Estate Management Services LLC (0.04%) and State of Alaska Department of Revenue (0.04%). Company insiders that own Vornado Realty Trust stock include Daniel R Tisch, Joseph Macnow, Mitchell N Schear, Russell B Wight Jr 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 Exxonmobil Investment Management Inc. TX, Nisa Investment Advisors LLC, US Bancorp DE, Aperio Group LLC, Northstar Group Inc., State of Alaska Department of Revenue, Gateway Investment Advisers LLC and Oakbrook Investments LLC. Company insiders that have sold Vornado Realty Trust 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 Bank of Montreal Can, Forsta AP Fonden, Mn Services Vermogensbeheer B.V., Bedrijfstakpensioenfonds Voor DE Media PNO, Quantitative Systematic Strategies LLC, National Pension Service, Denali Advisors LLC and Exane Asset Management. Company insiders that have bought Vornado Realty Trust stock in the last two years include Daniel R Tisch, Russell B Wight Jr 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 include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Vornado Realty Trust's stock price today?
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.
One share of Vornado Realty Trust stock can currently be purchased for approximately $78.69.
Consensus Ratings for Vornado Realty Trust (NYSE:VNO) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings 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). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus 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: ||4 Hold Ratings, 4 Buy Ratings|
|Consensus Rating:||Buy (Score: 2.50)|
|Consensus Price Target: ||$99.00 (25.81% upside)|
Analysts' Ratings History for Vornado Realty Trust (NYSE:VNO)
(Data available from 7/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|7/22/2017||Morgan Stanley||Reiterated Rating||Equal Weight||$81.00||N/A|
|7/21/2017||Evercore ISI||Reiterated Rating||Outperform||$106.00 -> $86.00||Low|
|7/19/2017||Citigroup Inc.||Lower Price Target||Buy||$96.17 -> $92.00||High|
|7/18/2017||Barclays PLC||Lower Price Target||Equal Weight||$104.00 -> $103.00||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|
|9/8/2015||Evercore Partners Inc||Lower Price Target||Hold||$110.00 -> $103.00||N/A|
|9/3/2015||SunTrust Banks, Inc.||Lower Price Target||Neutral||$112.00 -> $105.00||N/A|
Earnings History 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|
|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: $4.25
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)
|Most Recent Dividend:||5/19/2017|
|Dividend Growth:||-4.80% (3 Year Average)|
|Payout Ratio:||54.72% (Trailing 12 Months of Earnings) |
68.11% (Based on This Year's Estimates)
74.15% (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%Insider Trades by Quarter for Vornado Realty Trust (NYSE:VNO)
Institutional Ownership Percentage: 87.55%
(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 (VNO) Chart for Sunday, July, 23, 2017