Vornado Realty Trust (VNO) Stock Insights

VNO price $34.34 +0.01 +0.03%

Ticker
VNO
Price
$34.34
Change
+0.01 +0.03%
Market cap ?
$6.41B
P/E ?
1111.33
Dividend yield ?
2.15%
Beta ?
1.59
Sector
Real Estate
Industry
REIT - Office
Stocklytics score
48
Value
60
Quality
44
Growth
39

Stocklytics score rationale: value 60, quality 44, growth 39.

Financials

2016201720182019202020212022202320242025
2506202000208412600021637200001924700000152795100015892100001799995000181116300017876860001810425000

Vornado's property holdings are predominantly focused on the crucial New York City market, complemented by a top-tier asset in both Chicago and San Francisco. The company is also at the forefront of the real estate sector regarding its sustainability initiatives. Demonstrating this commitment, Vornado manages an extensive portfolio exceeding 23 million square feet of LEED-certified buildings and was recognized with…

Fair value

VNO fair value $7.96. Price $34.34. Price is 332% above fair value.

Above fair value, and more expensive than usual. A larger premium than on 67% of days in the past 5 years.

Fair value is an estimate of what one share is worth if future cash flows arrive as modeled. It is not a forecast of the share price. How discounted cash flow works.

Calculated with a 10-year free-cash-flow discount. Average free cash flow, last three years 814.75M. Growth 4.02%. When analyst earnings forecasts are available, free cash flow in those years is forecast earnings times the company's usual conversion of earnings into free cash flow, kept between 60% and 130%. Years with fewer than 3 analyst estimates are left out. Growth then fades in a straight line to terminal growth by year 10, starting from the last well-covered year's growth, or from the pace across those years when the final year slows sharply, kept between 0% and 20%. Without those forecasts, year-1 growth is analyst revenue growth for the next full fiscal year, or 5-year historical revenue growth when that forecast is missing, held for five years, then fading in a straight line to terminal growth by year 10. Terminal growth 3.00%. Discount rate 12.00% (beta 1.6). Beta is kept between 0.8 and 2.0, which on its own would make the discount rate 8.7% to 15.3%. The rate is then capped at 12%. A cap is used because a discount above 12% pushes higher-beta stocks further from the price. The discount rate stays at least 5 percentage points above terminal growth. Shares 186.72M. Net debt 7.04B. The earnings value is next-12-months earnings per share, or trailing earnings when that forecast is missing, times the median P/E of the company's industry. That median uses listed stocks worth at least $10 billion with a positive P/E of 100 or below, and the industry needs at least eight of them. Otherwise the sector median is used when that group also has at least eight, then the market median of those large companies. The multiple used is the lower of that median and 1.25 times the stock's own 10-year median P/E, then kept between 8 and 30. If the stock has no 10-year median, the peer median is kept between 8 and 30. Fair value is the average of the cash-flow value and the earnings value when both exist. Card and credit companies use the earnings value only, because changes in customer receivables distort free cash flow. Model uncertainty is high when fair value is more than 60% from the price, or when most of the cash-flow value sits after year 10.

Model uncertainty high for this stock

Compare VNO

Earnings

DateEPS actualEPS estimateRevenueRevenue estimate
2026-11-02—-0.20—477.39M
2026-08-030.08-0.04462.24M454.46M
2026-05-04-0.12-0.05459.11M431.72M
2026-02-090.550.03453.71M444.66M
2025-11-030.060.02453.70M440.00M
2025-08-043.700.53441.44M459.58M
2025-05-050.450.09461.58M452.13M
2025-02-100.01-0.05457.79M448.85M
2024-11-04-0.10-0.05443.25M445.07M
2024-08-050.18-0.06450.27M439.28M
2024-05-07-0.05-0.02436.38M446.17M
2024-02-120.040.01441.89M453.82M
2023-10-300.280.07451.00M453.79M
2023-08-010.140.10472.36M441.76M
2023-05-020.01-0.05445.92M451.56M
2023-02-130.720.67446.94M455.77M
2022-10-310.190.12457.43M451.70M
2022-08-010.190.18453.49M431.44M
2022-05-020.160.09442.13M427.86M
2022-02-140.120.27421.08M417.01M
2021-11-010.710.72409.21M384.53M
2021-08-020.690.69378.94M378.94M
2021-05-030.020.08379.98M1.03B
2021-02-160.66-0.07376.43M288.37M
2020-11-020.590.64363.96M502.27M
2020-08-03-1.030.41343.03M365.94M
2020-05-040.030.15444.53M2.22B
2020-02-181.010.87460.97M397.07M
2019-10-281.690.74465.96M327.27M
2019-07-2912.560.23463.10M21.93B
2019-04-290.950.68534.67M744.72M
2019-02-110.530.30543.42M470.96M
2018-10-290.970.39542.05M571.35M
2018-07-300.590.42541.82M583.50M
2018-04-300.300.88536.44M4.59B
2018-02-120.340.27536.23M397.20M
2017-10-30-0.070.30528.75M1.74B
2017-07-310.610.47626.04M439.56M
2017-05-010.250.66620.85M832.44M
2017-02-131.131.31638.26M2.87B

Dividends

Yield 2.15%. Payout ratio 3.00%. Frequency Annual.

Safety score 100/100 · Safe. Payout ratio is 3% of earnings. Dividends use less than 40% of free cash flow. Dividends were paid in 36 separate years. Yield is 2.2%, in a range that is usually sustainable.

Ex-dateDividendRecordPaymentFrequency
2025-12-18$0.742025-12-182025-12-29Annual
2024-12-16$0.742024-12-162024-12-27Annual
2023-12-14$0.302023-12-152023-12-27Annual
2023-01-27$0.382023-01-302023-02-10Semi-Annual
2022-11-04$0.532022-11-072022-11-18Quarterly
2022-08-05$0.532022-08-082022-08-19Quarterly
2022-05-06$0.532022-05-092022-05-20Quarterly
2022-01-28$0.532022-01-312022-02-11Quarterly
2021-11-05$0.532021-11-082021-11-19Quarterly
2021-08-06$0.532021-08-092021-08-20Quarterly
2021-05-07$0.532021-05-102021-05-21Quarterly
2021-01-29$0.532021-02-012021-02-12Quarterly
2020-11-06$0.532020-11-092020-11-20Quarterly
2020-08-07$0.532020-08-102020-08-21Quarterly
2020-05-08$0.662020-05-112020-05-22Quarterly
2020-01-24$0.662020-01-272020-02-14Quarterly
2019-12-27$1.952019-12-302020-01-15Special
2019-11-01$0.662019-11-042019-11-18Quarterly
2019-08-02$0.662019-08-052019-08-16Quarterly
2019-05-03$0.662019-05-062019-05-17Quarterly
2019-01-25$0.662019-01-282019-02-14Quarterly
2018-11-02$0.632018-11-052018-11-19Quarterly
2018-08-03$0.632018-08-062018-08-17Quarterly
2018-05-04$0.632018-05-072018-05-18Quarterly
2018-01-26$0.632018-01-292018-02-15Quarterly
2017-11-03$0.602017-11-062017-11-20Quarterly
2017-08-03$0.602017-08-072017-08-18Quarterly
2017-05-04$0.572017-05-082017-05-19Quarterly
2017-01-26$0.572017-01-302017-02-15Quarterly
2016-11-03$0.512016-11-072016-11-21Quarterly
2016-08-05$0.512016-08-092016-08-19Quarterly
2016-05-06$0.512016-05-102016-05-20Quarterly
2016-01-28$0.512016-02-012016-02-16Quarterly
2015-11-06$0.512015-11-102015-11-23Quarterly
2015-08-07$0.512015-08-112015-08-21Quarterly
2015-05-08$0.512015-05-122015-05-22Quarterly
2015-01-29$0.512015-02-022015-02-17Quarterly
2014-11-06$0.532014-11-102014-11-21Quarterly
2014-08-07$0.532014-08-112014-08-21Quarterly
2014-05-08$0.532014-05-122014-05-22Quarterly
2014-01-23$0.532014-01-272014-02-18Quarterly
2013-11-07$0.532013-11-122013-11-22Quarterly
2013-08-08$0.532013-08-122013-08-22Quarterly
2013-05-09$0.532013-05-132013-05-23Quarterly
2013-01-24$0.532013-01-282013-02-19Quarterly
2012-11-07$0.502012-11-092012-11-19Quarterly
2012-08-08$0.502012-08-102012-08-21Quarterly
2012-05-10$0.502012-05-142012-05-24Quarterly
2012-01-26$0.502012-01-302012-02-21Quarterly
2011-11-09$0.502011-11-142011-11-23Quarterly
2011-08-08$0.502011-08-102011-08-22Quarterly
2011-05-05$0.502011-05-092011-05-23Quarterly
2011-01-26$0.502011-01-282011-02-22Quarterly
2010-11-08$0.482010-11-102010-11-22Quarterly
2010-08-09$0.482010-08-112010-08-23Quarterly
2010-05-06$0.482010-05-102010-05-24Quarterly
2010-01-26$0.482010-01-282010-02-22Quarterly
2009-11-06$0.462009-11-102009-12-14Quarterly
2009-08-07$0.482009-08-112009-09-14Quarterly
2009-05-07$0.742009-05-112009-06-12Quarterly
2009-02-03$0.952009-02-052009-03-12Quarterly
2008-11-07$0.702008-11-122008-11-21Quarterly
2008-08-07$0.662008-08-112008-08-22Quarterly
2008-05-08$0.662008-05-122008-05-22Quarterly
2008-01-28$0.662008-01-302008-02-20Quarterly
2007-10-10$0.662007-10-122007-10-26Quarterly
2007-08-07$0.622007-08-092007-08-22Quarterly
2007-04-27$0.622007-05-012007-05-21Quarterly
2007-01-29$0.622007-01-312007-02-13Quarterly
2006-11-03$1.022006-11-072006-11-21Quarterly
2006-08-07$0.592006-08-092006-08-22Quarterly
2006-05-03$0.592006-05-052006-05-17Quarterly
2005-12-22$0.562005-12-272005-12-30Monthly
2005-11-08$0.592005-11-102005-11-18Quarterly
2005-08-02$0.562005-08-042005-08-12Quarterly
2005-05-03$0.562005-05-052005-05-13Quarterly
2005-02-03$0.582005-02-072005-02-15Quarterly
2004-11-10$0.562004-11-152004-11-26Quarterly
2004-07-29$0.522004-08-022004-08-12Quarterly
2004-04-29$0.522004-05-032004-05-13Quarterly

Insider trades

DateInsiderActionSharesPriceValue
2026-10-06Weiss Glen J.Sell100.00K$16.681.67M
2026-10-06Weiss Glen J.Buy50.25K——
2026-09-29Chera HaimSell90.00K$34.013.06M
2026-06-17Fascitelli Michael DSell125.35K$36.574.58M
2026-06-17Fascitelli Michael DSell8.00K$37.34298.72K
2026-06-08WIGHT RUSSELL B JRBuy1.00K$17.4417.44K
2026-06-08WIGHT RUSSELL B JRBuy1.00K$17.6217.62K
2026-06-08WIGHT RUSSELL B JRBuy1.00K$15.0015.00K
2026-06-08WIGHT RUSSELL B JRBuy1.00K$17.6917.69K
2026-05-21Puri MandakiniBuy7.17K——
2026-05-21McGuire Raymond JBuy7.17K——
2026-05-21MANDELBAUM DAVIDBuy7.17K——
2026-05-21TISCH DANIEL RBuy7.17K——
2026-05-21WIGHT RUSSELL B JRBuy7.17K——
2026-05-21Bassey Beatrice HamzaBuy7.17K——
2026-05-21Helman William WBuy7.17K——
2026-05-21Beinecke Candace KBuy7.17K——
2026-05-21Fascitelli Michael DBuy7.17K——
2026-05-18ROTH STEVENSell26.43K——
2026-05-06Chera HaimBuy100.00K——
2026-05-06Chera HaimSell100.00K——
2026-03-12TISCH DANIEL RBuy30.00K$25.55766.50K
2026-03-03TISCH DANIEL RBuy70.00K$26.301.84M
2026-03-02Maddock Deirdre K.Buy4.06K——
2026-03-02TISCH DANIEL RBuy40.00K$27.091.08M
2026-02-27TISCH DANIEL RBuy45.00K$27.701.25M
2026-02-24TISCH DANIEL RBuy25.00K$27.85696.25K
2026-02-23Chera HaimSell100.00K——
2026-02-23Chera HaimBuy100.00K——
2026-02-05Chera HaimBuy16.66K——
2026-02-05Langer BarryBuy41.96K——
2026-02-05Weiss Glen J.Buy48.37K——
2026-02-05Franco Michael J.Buy52.20K——
2026-02-05ROTH STEVENBuy172.25K——
2025-12-30Beinecke Candace KBuy156——
2025-09-04Chera HaimSell30.00K$39.641.19M
2025-05-30Chera HaimSell20.00K$37.98759.63K
2025-05-22McGuire Raymond JBuy6.06K——
2025-05-22TISCH DANIEL RBuy6.06K——
2025-05-22Bassey Beatrice HamzaBuy6.06K——
2025-05-22Helman William WBuy6.06K——
2025-05-22Beinecke Candace KBuy6.06K——
2025-05-22Fascitelli Michael DBuy6.06K——
2025-05-22Puri MandakiniBuy6.06K——
2025-05-22MANDELBAUM DAVIDBuy6.06K——
2025-05-22WIGHT RUSSELL B JRBuy6.06K——
2025-05-16ROTH STEVENSell283.73K——
2025-05-07Beinecke Candace KBuy3.47K$0.04139
2025-05-07Beinecke Candace KSell3.47K——
2025-05-07Chera HaimSell50.00K——
2025-05-07Chera HaimBuy50.00K——
2025-02-06Chera HaimBuy25.32K——
2025-02-06Chera HaimBuy7.41K——
2025-02-06Langer BarryBuy77.13K——
2025-02-06Langer BarryBuy18.63K——
2025-02-06Franco Michael J.Buy86.24K——
2025-02-06Franco Michael J.Buy23.17K——
2025-02-06Weiss Glen J.Buy77.13K——
2025-02-06Weiss Glen J.Buy21.50K——
2025-02-06ROTH STEVENBuy347.69K——
2025-02-06ROTH STEVENBuy86.00K——
2025-01-02Beinecke Candace KBuy182——
2024-12-10WIGHT RUSSELL B JRSell2.00K$44.8689.73K
2024-07-11WIGHT RUSSELL B JRSell2.00K$28.1956.39K
2024-07-09Beinecke Candace KBuy1.96K$0.0478
2024-07-09Beinecke Candace KSell1.96K——
2024-05-23Puri MandakiniBuy7.40K——
2024-05-23TISCH DANIEL RBuy7.40K——
2024-05-23Bassey Beatrice HamzaBuy7.40K——
2024-05-23McGuire Raymond JBuy7.40K——
2024-05-23Beinecke Candace KBuy7.40K——
2024-05-23Fascitelli Michael DBuy7.40K——
2024-05-23MANDELBAUM DAVIDBuy7.40K——
2024-05-23WIGHT RUSSELL B JRBuy7.40K——
2024-05-23Helman William WBuy7.40K——
2024-02-08Chera HaimBuy14.91K——
2024-02-08Langer BarryBuy37.55K——
2024-02-08Franco Michael J.Buy46.71K——
2024-02-08Weiss Glen J.Buy43.29K——
2024-02-08ROTH STEVENBuy154.15K——
2023-12-28Beinecke Candace KBuy180——
2023-12-22Fascitelli Michael DSell196.74K$29.195.74M
2023-12-22Fascitelli Michael DSell140.32K$30.044.21M
2023-12-21Fascitelli Michael DSell262.94K$29.547.77M
2023-12-14WIGHT RUSSELL B JRSell3.00K$30.4991.47K
2023-12-14WIGHT RUSSELL B JRSell4.00K$31.30125.21K
2023-12-13WIGHT RUSSELL B JRSell15.00K$28.52427.74K
2023-12-13WIGHT RUSSELL B JRSell8.00K$29.10232.76K
2023-12-08WIGHT RUSSELL B JRSell5.00K$27.95139.77K
2023-12-07WIGHT RUSSELL B JRSell44.59K$27.731.24M
2023-12-06WIGHT RUSSELL B JRSell20.00K$28.04560.75K
2023-12-01ROTH STEVENBuy368.90K——
2023-12-01ROTH STEVENSell57.10K——
2023-12-01ROTH STEVENSell98.18K——
2023-12-01ROTH STEVENSell26.47K——
2023-06-29Maddock Deirdre K.Buy200.00K——
2023-06-29Maddock Deirdre K.Buy33.33K——
2023-06-29Chera HaimBuy1.00M——
2023-06-29Chera HaimBuy166.67K——
2023-06-29Weiss Glen J.Buy1.50M——

Institutional holders

Latest filed quarter: Q2 2026.

Institutions holding: 450, holders +38 vs prior quarter. Ownership 99.75%.

HolderSharesChangeChange %Value
BLACKROCK, INC.22.18M-605.91K-2.66%871.66M
VANGUARD PORTFOLIO MANAGEMENT LLC14.53M-108.50K-0.74%570.97M
NORGES BANK14.41M14.41MNew566.36M
FRANKLIN TEMPLETON INC13.38M221.45K+1.68%525.87M
PRICE T ROWE ASSOCIATES INC /MD/9.55M301.90K+3.27%375.17M
RESOLUTION CAPITAL LTD9.39M1.93M+25.86%369.00M
STATE STREET CORP8.06M-111.25K-1.36%316.70M
VANGUARD CAPITAL MANAGEMENT LLC7.55M-88.74K-1.16%296.65M
PRINCIPAL FINANCIAL GROUP INC5.94M48.45K+0.82%233.59M
KEMNAY ADVISORY SERVICES INC.5.83M00.00%229.30M
AQR CAPITAL MANAGEMENT LLC3.68M1.70M+85.90%144.80M
GEODE CAPITAL MANAGEMENT, LLC3.57M-2.58K-0.07%140.14M
CHARLES SCHWAB INVESTMENT MANAGEMENT INC3.42M205.99K+6.42%134.27M
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P.3.42M3.42MNew134.27M
CENTERSQUARE INVESTMENT MANAGEMENT LLC2.92M-510.94K-14.90%114.68M
NORTHERN TRUST CORP2.61M-145.83K-5.29%102.60M
EARNEST PARTNERS LLC2.48M-13.67K-0.55%97.56M
DIMENSIONAL FUND ADVISORS LP2.38M-137.16K-5.46%93.42M
MORGAN STANLEY2.37M76.46K+3.34%92.95M
UBS GROUP AG2.32M948.90K+69.04%91.31M
DEUTSCHE BANK AG\2.14M2.14MNew84.14M
GOTHAM ASSET MANAGEMENT, LLC1.93M1.47M+319.89%75.82M
DUFF & PHELPS INVESTMENT MANAGEMENT CO1.86M325.98K+21.22%73.17M
INVESCO LTD.1.85M122.19K+7.05%72.88M
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP1.79M393.86K+28.17%70.44M

Insights

Revenue by product
PeriodValue
FY2011Merchandise Mart: 375294000.0, Other Segment: 164919000.0, Retail: 624858000.0, Toys R Us Segment: 0.0, Washington DC Office: 633277000.0
FY2012Merchandise Mart Segment: 367671000.0, New York Segment: 1374984000.0, Other Segment: 75775000.0, Retail Properties Segment: 393999000.0, Washington DC Segment: 554028000.0
FY2013New York Segment: 1509266000.0, Other Segment: 284766000.0, Retail Properties Segment: 425716000.0, Washington DC Segment: 541161000.0
FY2014New York Segment: 1520845000.0, Other Segment: 250997000.0, Retail Properties Segment: 326947000.0, Washington DC Segment: 537151000.0
FY2015New York Segment: 1695925000.0, Other Segment: 273530000.0, Washington DC Segment: 532812000.0
FY2016New York Segment: 1713374000.0, Other Segment: 274711000.0, Washington DC Segment: 518117000.0
FY2017New York Segment: 1779307000.0, Other Segment: 304819000.0
FY2018New York Segment: 1836036000.0, Other Segment: 327684000.0
FY2019Fee And Other Income: 157478000.0, Rental Revenue: 1767222000.0
FY2020Fee And Other Income: 150316000.0, Rental Revenue: 1377635000.0
FY2021Fee And Other Income: 164679000.0, Rental Revenue: 1424531000.0
FY2022Fee And Other Income: 192310000.0, Rental Revenue: 1607685000.0
FY2023Fee And Other Income: 203677000.0, Parking Revenue: 20355000.0, Product and Service, Other: 48700000.0, Rental Revenue: 1607486000.0
FY2024Fee And Other Income: 218880000.0, Parking Revenue: 19213000.0, Product and Service, Other: 54975000.0, Rental Revenue: 1568806000.0
FY2025Fee And Other Income: 252184000.0, Parking Revenue: 20320000.0, Product and Service, Other: 82934000.0, Rental Revenue: 1558241000.0
Revenue by region
PeriodValue
FY2011New York Office: 1117317000.0

Insights · Dividends · Forecast · Financials · Learn

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Vornado Realty Trust (VNO) Stock Insights

VNO$34.34+0.01 +0.03%

$6.41B

Market Cap

1111.33

P/E

—

Forward P/E

48

Score

Price History