NEW YORK, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE: VNO) reported today: Quarter Ended September 30, 2024 Financial Results NET LOSS attributable to common shareholders for the quarter ended September 30, 2024 was $19,154,000, or $0.10 per diluted share, compared to net income attributable to common shareholders of $52,846,000, or $0.28 per diluted share, for the prior year's quarter. FUNDS FROM OPERATIONS ("FFO") attributable to common shareholders plus assumed conversions (non-GAAP) fo ...

Analysts on Wall Street project that Vornado (VNO) will announce quarterly earnings of $0.51 per share in its forthcoming report, representing a decline of 22.7% year over year. Revenues are projected to reach $440.72 million, declining 2.3% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 1.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ah ...

Core Viewpoint - Vornado Realty Trust will file its quarterly report for Q3 2024 on November 4, 2024, and host an earnings conference call on November 5, 2024 [1] Company Information - Vornado Realty Trust is a fully-integrated equity real estate investment trust [1] Upcoming Events - The quarterly earnings release will be issued after the New York Stock Exchange closes on November 4, 2024 [1] - The earnings conference call will take place on November 5, 2024, at 10:00 a.m. Eastern Time [1] - Access to the conference call will be available via phone and a live webcast on the company's website [1]

Shares of Vornado Realty Trust (VNO) have gained 57.6% in the past three months, outperforming its industry's growth of 20.8%. The company owns a concentration of high-quality office properties strategically located in markets of New York, Chicago and San Francisco. It is poised to benefit from tenants' healthy demand for premier office spaces with class-apart amenities. A healthy balance sheet position supports its growth endeavors. Last week, VNO, with Medline, announced an agreement to increase Medline's ...

Vornado Realty Trust (VNO) , with Medline, recently announced an agreement to increase Medline's presence at THE MART by 110,000 square feet. The long-term lease agreement with Vornado will run until 2036. This expansion positions Medline as one of the largest tenants at Vornado's 3.7-million-square-foot property in downtown Chicago. Medline is set to increase its office space in THE MART from 51,000 to 161,000 square feet, expanding to a single, contiguous area that will occupy the majority of the 12th flo ...

THE MART 3.7 MM SF Property on the River North, Chicago, IL CHICAGO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Medline and Vornado Realty Trust (NYSE: VNO) today announced an agreement to expand Medline's presence at THE MART by 110,000 square feet, making it one of the largest tenants at Vornado's iconic, 3.7-million-square-foot property in downtown Chicago. Medline will more than triple its offices in THE MART from 51,000 to 161,000 square feet as part of a single, contiguous space across the majority of the 12t ...

Vornado Realty Trust's (VNO) ability to cater to the rising demand for premier office spaces with class-apart amenities is likely to drive leasing activity. Its portfolio-repositioning efforts and healthy balance sheet position also augur well. However, the geographic concentration of assets, competition from developers and high interest rates raise concerns. Last August, this office real estate investment trust (REIT) reported its second-quarter 2024 funds from operations (FFO) plus assumed conversions as ...

It has been about a month since the last earnings report for Vornado (VNO) . Shares have added about 9.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Vornado due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Vornado's Q2 FFO and Revenues Surpass Estimates Vornado ...

Core Viewpoint - Vornado Realty Trust (VNO) has experienced a significant stock price increase of 35.6% over the past six months, outperforming the industry growth of 9.5% [1] Company Performance - The company reported better-than-expected second-quarter 2024 results, with funds from operations (FFO) per share of 57 cents, exceeding the Zacks Consensus Estimate of 55 cents [2] - The Zacks Consensus Estimate for Vornado's 2024 FFO per share has been revised upward by 1.9% to $2.12 over the past month [2] Market Positioning - Vornado focuses on high-rent, high-barrier-to-entry markets and has a diversified tenant base, which is expected to drive steady cash flows and long-term growth [3] - The office-using job growth and expansion of technology, finance, and media firms are anticipated to bolster rental revenues, particularly in New York's Midtown leasing market [4] Rental Trends - Rents in newly constructed or redeveloped assets with ample amenities at transit-centric locations have increased, positioning the company to benefit from this trend [5] Strategic Initiatives - Vornado is engaging in opportunistic developments and divestitures, with recent sales including a 49.9% interest in a property for net proceeds of $2 million and two condominium units for approximately $31.6 million [6] - The company maintains a solid balance sheet with $2.7 billion in liquidity, which includes $1.1 billion in cash and cash equivalents [7] Economic Environment - Despite the positive outlook, persistent macroeconomic uncertainty and high interest rates are expected to create challenges for near-term demand for office spaces [8]

Alphotographic Vornado Realty Trust's (NYSE:VNO) Series O Preferreds (NYSE:VNO.PR.O) are my single largest preferred position, forming 22% of my fixed-income securities portfolio. VNO's balance sheet, the preferreds deep discount to par value, and pending Fed rate cuts formed the basis of this investment decision. The preferreds are trading for $14 per share, a substantial 44% discount to their $25 per share liquidation value with a $1.1125 per share annual coupon driving a healthy 8% yield on cost. Hence, ...