VNO Stock Recent News

Victoria Green, G Squared Private Wealth CIO, joins 'The Exchange' to discuss how to trade Marriott, Vornado Realty Trust, and WM.

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.

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.

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 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 (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) reported earnings 30 days ago. What's next for the stock?

Vornado Realty (VNO) is well-poised to gain from its top-quality assets. Also, its repositioning efforts bode well.

Vornado Realty Trust has had a disruptive fiscal year, with suspended dividends and flagging funds from operations as interest expenses bite. The REIT's preferred shares offer compelling yields and a strong potential for high total returns. Vornado reported a decline in revenue for its fiscal 2023 third quarter, but its liquidity position is strong against macro headwinds.

Vornado Realty Trust (NYSE:VNO ) Q3 2023 Earnings Conference Call October 31, 2023 10:00 AM ET Company Participants Steve Borenstein – Senior Vice President and Corporation Counsel Steven Roth – Chairman and Chief Executive Officer Michael Franco – President and Chief Financial Officer Glen Weiss – Executive Vice President-Office Leasing and Co-Head of Real Estate Tom Sanelli – Executive Vice President-Finance and Chief Administrative Officer Conference Call Participants Steve Sakwa – Evercore ISI Camille Bonnel – BoA Michael Griffin – Citi Alexander Goldfarb – Piper Sandler Dylan Burzinski – Green Street John Kim – BMO Capital Markets Anthony Paolone – JPMorgan Julien Blouin – Goldman Sachs Vikram Malhotra – Mizuho Nick Yulico – Scotiabank Ron Kamdem – Morgan Stanley Operator Good morning, and welcome to the Vornado Realty Trust Third Quarter 2023 Earnings Call. My name is Rocco, and I will be your operator for today's call.