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 ...

Shares of Vornado Realty Trust (VNO) have soared 35.6% in the past six months compared with the industry's growth of 9.5%. 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. However, the overall choppy office real estate landscape and a high interest rate environment raise concerns for the company. This month, the ...

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, ...

Vornado Realty Trust (VNO) boasts 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. However, the overall choppy office real estate landscape and a high interest rate environment raise concerns for the company. What's Aiding VNO? Vornado's focus on having assets in a few select high-rent, high-barrier-to-entry markets, along with a ...

Vornado Realty Trust (NYSE:VNO) Q2 2024 Earnings Call August 6, 2024 10:00 AM ET Company Participants Steve Borenstein - Executive Vice President and Corporate 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, Real Estate Thomas Sanelli - Executive Vice President, Finance and Chief Administrative Officer Conference Call Participants Steve Sakwa - Evercore ISI John Kim - BMO Capi ...

Vornado Realty Trust's (VNO) second-quarter 2024 funds from operations (FFO) plus assumed conversions as adjusted per share of 57 cents surpassed the Zacks Consensus Estimate of 55 cents. However, the figure declined 20.8% year over year. Results display better-than-anticipated top-line growth. Vornado experienced decent leasing activity, higher initial rent and lower leasing commissions in the quarter. However, the total same-store net operating income (NOI) declined year over year. Total revenues came in ...

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