VNO Stock Recent News

VNO's premium assets in select high-rent markets, portfolio-repositioning efforts and a healthy balance sheet augur well. However, high-interest expense ails.

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

Vornado (VNO) is well-poised to gain from tenants' healthy demand for premier office spaces despite a high interest rate environment.

Vornado Realty Trust finished the second quarter with around $1.12 billion in cash, cash equivalents, restricted cash, and short-term investments. The REIT grew FFO by 2 cents over its prior first quarter as quarterly interest expense surged. Pending Fed rate cuts should benefit VNO immensely as the REIT looks to address its 2025 debt maturities.

Vornado Realty's (VNO) properties are poised to draw in tenants on the back of the strong demand for premier office spaces. However, elevated interest rates continue to be a concern.

Vornado (VNO) experiences decent leasing activity and higher initial rent in Q2.

Although the revenue and EPS for Vornado (VNO) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Vornado (VNO) came out with quarterly funds from operations (FFO) of $0.57 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to FFO of $0.72 per share a year ago.

NEW YORK, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended June 30, 2024 Financial Results NET INCOME attributable to common shareholders for the quarter ended June 30, 2024 was $35,260,000, or $0.18 per diluted share, compared to $46,377,000, or $0.24 per diluted share, for the prior year's quarter. FUNDS FROM OPERATIONS ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) for the quarter ended June 30, 2024 was $148,944,000, or $0.76 per diluted share, compared to $144,059,000, or $0.74 per diluted share, for the prior year's quarter.

NEW YORK, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its 52% owned street retail joint venture has entered into an agreement to sell UNIQLO the portion of its U.S. flagship store at 666 Fifth Avenue owned by the retail joint venture for $350 million. The joint venture owns the fee condominium interest in 17,295 square feet (6,477 square feet at grade) of UNIQLO's 90,732 square foot store. In conjunction with the closing, the pass-through leases between the office condominium owner and the retail joint venture will be terminated.