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
$6.6B
1,159.60
$0.03
1.55
$0.74
2.10%
Price and volume
Market cap
$6.6B
Beta
1.55
52-week high
$43.37
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
122.317
Total debt to equity
122.317
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)
1,159.601
Price to revenue (TTM)
3.572
Price to book
1.43
Price to tangible book (TTM)
1.46
Price to free cash flow (TTM)
20.392
Free cash flow yield (TTM)
4.90%
Free cash flow per share (TTM)
1.729
Dividend yield (TTM)
2.10%
Forward dividend yield
2.10%
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
Q2 adjusted FFO increased to $0.67 per share from $0.56 year over year, supported by $13.3 million of incremental rent commencements net of lease expirations. (Vornado Q2 2026 results)
PENN 2 reached 90% leased after signing 10-year leases with Altana AI and Veeva, improving the outlook for Vornado’s Penn District redevelopment and future rent commencements. (Vornado PENN 2 leasing announcement)
The 350 Park Avenue joint venture adds a major institutional development catalyst: Citadel agreed to a 15-year, 1.05-million-square-foot anchor lease, while Vornado retains a 36% interest and development, management, and leasing roles. (Vornado 350 Park Avenue announcement)
Adjusted FFO per share was unchanged at $1.19 for the first six months of 2026 versus the prior-year period, while Q1 adjusted FFO fell to $0.52 from $0.63; higher interest expense was a key drag. (Vornado Q2 2026 results)
Vornado’s 350 Park Avenue development carries substantial execution and capital risk: the project budget is approximately $6.2 billion, with Vornado expecting roughly $400 million of additional capital contributions beyond its $500 million land contribution. (Vornado 350 Park Avenue announcement)
Portfolio performance remains uneven outside the strongest New York assets: same-store NOI at 555 California Street declined 14.3% year over year in Q2, while retail occupancy was 77.8% as of June 30, 2026. (Vornado Q2 2026 results)
Data summarised monthly by Lightyear AI. Last updated on 8 Sept 2026.
VNO Financial Performance
Revenues and expenses
VNO Earnings Performance
Company profitability
Upcoming events
No upcoming events
VNO News
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Funds containing VNO
AllEURGBPUSD
Fund name | Fund size | $VNO weighting |
|---|---|---|
VanEck Global Real Estate€TRET | €255M | 0.43% |
VanEck Global Real Estate£TREG | £222M | 0.43% |
iShares Developed Markets Property Yield$IDWP | $1.2B | 0.39% |
iShares Developed Markets Property Yield£IWDP | £859M | 0.39% |
SPDR S&P 400 US Mid Cap$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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