Vornado Realty Trust/$VNO
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Capital at risk
About Vornado Realty Trust
Vornado Realty Trust is a fully integrated real estate investment trust with a portfolio of New York City office, retail, and multifamily assets, and the developer of the new Penn District. While concentrated in New York, the trust also owns assets in both Chicago and San Francisco. It generates revenue in the form of property rentals, fees charged for trade shows, parking revenues, management and leasing fees, etc. Vornado operates in the following reportable segments: New York (its key revenue-generating market) and Other.
- Ticker
- $VNO
- Sector
- Real Estate
- Primary listing
- NYSE
- Employees
- 3,145
- Headquarters
- New York, United States
- Website
- www.vno.com
VNO Metrics
BasicAdvanced
$6.4B
1,135.59
$0.03
1.55
$0.74
2.14%
Price and volume
Market cap
$6.4B
Beta
1.55
52-week high
$42.50
52-week low
$24.57
Average daily volume
1.3M
Dividend rate
$0.74
Financial strength
Current ratio
5.343
Quick ratio
5.022
Long term debt to equity
1.223
Total debt to equity
1.223
Dividend payout ratio (TTM)
299.60%
Interest coverage (TTM)
0.78%
Profitability
EBITDA (TTM)
771.632
Gross margin (TTM)
49.60%
Net profit margin (TTM)
3.62%
Operating margin (TTM)
13.42%
Effective tax rate (TTM)
22.02%
Revenue per employee (TTM)
$600,000
Management effectiveness
Return on assets (TTM)
1.01%
Return on equity (TTM)
0.60%
Valuation
Price to earnings (TTM)
1,135.594
Price to revenue (TTM)
3.498
Price to book
1.4
Price to tangible book (TTM)
1.43
Price to free cash flow (TTM)
19.97
Free cash flow yield (TTM)
5.01%
Free cash flow per share (TTM)
1.729
Dividend yield (TTM)
2.14%
Forward dividend yield
2.14%
Growth
Revenue change (TTM)
-0.67%
Earnings per share change (TTM)
-99.25%
3-year revenue growth (CAGR)
-0.50%
10-year revenue growth (CAGR)
-1.71%
3-year earnings per share growth (CAGR)
-76.23%
10-year earnings per share growth (CAGR)
-36.43%
3-year dividend per share growth (CAGR)
-19.81%
10-year dividend per share growth (CAGR)
-11.53%
What the Analysts think about VNO
Analyst ratings (Buy, Hold, Sell) for Vornado Realty Trust stock.
Analyst projections of the future price of Vornado Realty Trust stock.
Bulls say / Bears say
PENN 2 reached 90% leased after Vornado signed 125,000 square feet with Veeva and Altana, including 10- and 12-year leases; continued lease-up could validate the Penn District redevelopment strategy and support future NOI growth. (Vornado Realty Trust)
New York operating performance strengthened: six-month 2026 New York same-store NOI rose 10.5%, occupancy was 90.8% at June 30, and second-generation New York office rents increased 9.5% on a GAAP basis and 7.1% on a cash basis. (Vornado Realty Trust)
Vornado has meaningful financial flexibility and access to strategic assets: it reported $2.0 billion of liquidity at June 30, completed the purchase of a 49% interest in Park Avenue Plaza with debt fixed at 2.99% through 2031, and retained $286.6 million of authorized share-repurchase capacity as of August 3. (SEC)
Recurring earnings remain uneven: first-half 2026 adjusted FFO was $1.19 per share, flat year over year, while first-quarter adjusted FFO fell 17% year over year; Q2’s improvement also included a $10.2 million negative interest-expense impact. (Vornado Realty Trust)
Refinancing and interest-rate exposure remain material: Vornado reported $7.26 billion of consolidated debt fair value as of June 30, 2026, while several hedges and maturities extend into 2026–2027, including debt tied to 825 Seventh Avenue, One Park Avenue and 100 West 33rd Street. (SEC)
The planned 350 Park Avenue development creates substantial execution and capital risk despite its Citadel anchor lease: the $6.2 billion project requires approximately $400 million of additional Vornado contributions on top of its $500 million land contribution. (Vornado Realty Trust)
Data summarised monthly by Lightyear AI. Last updated on 11 Sept 2026.
VNO Financial Performance
Revenues and expenses
VNO Earnings Performance
Company profitability
Upcoming events
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Funds containing VNO
AllEURGBPUSD
Fund name | Fund size | $VNO weighting |
|---|---|---|
VanEck Global Real Estate€TRET | €255M | 0.41% |
VanEck Global Real Estate£TREG | £222M | 0.41% |
iShares Developed Markets Property Yield$IDWP | $1.2B | 0.37% |
iShares Developed Markets Property Yield£IWDP | £859M | 0.37% |
SPDR S&P 400 US Mid Cap$SPY4 | $6.3B | 0.16% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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