Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Vornado (VNO) and Extra Space Storage (EXR). But which of these two stocks offers value investors a better bang for their buck right now?
Vornado Realty Trust (VNO) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, VNO's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.
VNO jumps 44.9% in three months as strong Manhattan office demand, strategic acquisitions and ample liquidity fuel optimism.
VNO's premium assets, strong NYC leasing, Park Avenue Plaza acquisition and ample liquidity support cash-flow growth.
VNO buys a 49% stake in Park Avenue Plaza at a $1.1B valuation, adding a 99%-occupied Manhattan office asset.
Investors interested in REIT and Equity Trust - Other stocks are likely familiar with Vornado (VNO) and Extra Space Storage (EXR). But which of these two stocks offers value investors a better bang for their buck right now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Vornado Realty Trust offers a range of preferred stocks and OTC bonds, providing investors with multiple fixed-income options. VNO's preferred securities and bonds are detailed, supporting portfolio diversification and yield enhancement strategies. The article highlights the availability and characteristics of VNO's preferreds and OTC bonds, aiding security selection.
Vornado Realty Trust recorded dual beats in its fiscal 2026 first quarter and attractive preferred spreads over US10Y. VNO reported first-quarter revenue of $459.11 million, beating consensus by $31.46 million, with a sequential improvement in the year-over-year revenue dip. Funds from operations (FFO) per diluted share was $0.49, down from $0.67 last year. But New York occupancy rose 30 basis points to 90.3% to end the first quarter.
VNO posts in-line Q1 FFO as leasing, NOI and occupancy rise in key portfolios, while deals, buybacks and refinancing reshape its balance sheet.
Vornado Realty Trust is mispriced as if its depressed earnings are permanent, overlooking its high-quality Manhattan assets and redevelopment upside. VNO's valuation is anchored to stressed cash NOI, but normalization and project completions could drive 13–14% asset-level and up to 82% equity upside. Redevelopment projects, such as PENN District and 623 Fifth Avenue, target 10–12% yields, well above NYC office cap rates, supporting future NOI growth.
The clip, which assailed mega-billionaire Griffin for owning a $238 million apartment, could deflate Griffin's commitment to partner with Vornado and the Rudin organization to build a $4.5 billion skyscraper on Park Avenue between East 51st and 52nd streets.