Vornado Realty Trust (VNO) AI Stock Analysis

Vornado Realty Trust strategically focuses its portfolio in major U.S. markets, prominently in New York City, alongside premier assets in Chicago and San Francisco. Its portfolio includes high-profile office buildings and retail spaces catering to diverse tenants. Recognized for sustainability, Vornado owns and manages over 23 million square feet of LEED certified buildings and previously earned the Energy Star Partner of the Year Award, Sustained Excellence in 2019. Headquartered in New York City, the company celebrated its 50th anniversary of listing on the NYSE in 2012.

Vornado's annual revenue rose from $1.59B in FY2021 to $1.80B in FY2022, followed by $1.81B in FY2023, $1.79B in FY2024, and $1.81B in FY2025, representing a 5-year revenue CAGR of 3.5%. Operating margin was 15.4% in FY2021, 16.0% in FY2022, 16.6% in FY2023, 14.8% in FY2024, and 15.0% in FY2025. Net income shifted from $176.0M in FY2021 to -$346.5M in FY2022, before reaching $105.5M in FY2023, $70.4M in FY2024, and $905.0M in FY2025. Over the trailing twelve months, revenue reached $1.88B with an operating margin of 9.8%. In the quarter ended June 30, 2026, revenue increased 5.0% year-over-year while quarterly earnings fell 97.8%.

As of June 30, 2026, Vornado Realty Trust had $675.4M in cash and short-term investments and $9.06B in total debt, leading to net debt of $8.38B. Shareholders' equity was $5.79B against $15.61B in total assets, resulting in a debt-to-equity ratio of 1.57 and a current ratio of 4.77. In FY2025, operating cash flow and free cash flow both reached $1.26B. Cash utilization in FY2025 included $709.5M in capital expenditures, $203.4M in dividends paid, and $51.0M deployed toward share buybacks.

Vornado Realty Trust trades at a trailing P/E of 823.2x and a forward P/E of 57.1x, above the median of its US-listed Real Estate peers of 21.6x and 23.5x, respectively. Its enterprise value to EBITDA ratio of 16.3x also sits above the peer median of 14.7x, while its price-to-sales ratio is 3.6x compared to the peer median of 3.7x. Over the past year, the stock returned -14.8%, trailing the 16.8% return of the S&P 500. Over five years, the stock returned -15.3% compared to an 83.0% gain for the benchmark.

Vornado Realty Trust pays an annual forward dividend of $0.74 per share, resulting in a dividend yield of 2.25%. The dividend payout ratio is 117.5%, with distributions distributed on an Annual schedule. The company has paid dividends for 36 consecutive years, though its 5-year annualized dividend growth fell 20.8%. The last ex-dividend date was December 18, 2025.

Wall Street analyst ratings comprise 4 Strong Buy, 0 Buy, 6 Hold, 1 Sell, and 2 Strong Sell recommendations. The mean price target is $39.38, representing a 19.6% premium over the last close of $32.93. For the fiscal year ending December 31, 2026, analysts estimate EPS of -$0.51 and revenue of $1.88B. The company beat EPS consensus estimates in 3 of the last 4 quarters, and its next earnings date is November 2, 2026.

This page is an AI-written research summary of Vornado Realty Trust (VNO). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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