Vornado Realty Trust (VNO)
Vornado Realty: I'm Buying The Dip In The Series O Preferreds As Manhattan Office Demand Soars
Vornado Realty Trust's shares are up more than 60% as the REIT recorded a strong fiscal 2024 fourth quarter earnings beat, despite a slight FFO dip. VNO's Series O preferreds trade at a significant discount to their liquidation value with a 7.5% yield on cost due to the high risk-free rate and perceived office property risks. Manhattan's office leasing market is robust, with VNO's occupancy projected to exceed 90% by 2025, bolstered by NYU's master lease and Penn 2's leasing.
Vornado Realty Trust (VNO) Q4 2024 Earnings Call Transcript
Vornado Realty Trust (NYSE:VNO ) Q4 2024 Earnings Conference Call February 11, 2025 10:00 AM ET Company Participants Steven Borenstein - Senior Vice President & Corporate Counsel Steven Roth - Chairman & Chief Executive Officer Michael Franco - President & Chief Financial Officer Glen Weiss - Executive Vice President, Office Leasing & Co-Head, Real Estate Conference Call Participants Steve Sakwa - Evercore ISI John Kim - BMO Capital Markets Jeff Spector - Bank of America Dylan Burzinski - Green Street Capital Floris van Dijkum - Compass Point Michael Griffin - Citi Vikram Malhotra - Mizuho Securities Michael Lewis - Truist Securities Alexander Goldfarb - Piper Sandler Ronald Kamdem - Morgan Stanley Anthony Paolone - JPMorgan Nick Yulico - Scotiabank Brendan Lynch - Barclays Operator Good morning and welcome to the Vornado Realty Trust Fourth Quarter 2024 Earnings Conference Call. My name is Betsy [ph] and I will be your operator for today's call.
Vornado's Q4 FFO & Revenues Beat Estimates, Same-Store NOI Declines
VNO's Q4 results reflect better-than-anticipated revenues on decent leasing activity. However, total same-store NOI declines across the portfolio.
Vornado (VNO) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
Although the revenue and EPS for Vornado (VNO) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Vornado (VNO) Tops Q4 FFO and Revenue Estimates
Vornado (VNO) came out with quarterly funds from operations (FFO) of $0.61 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to FFO of $0.63 per share a year ago.
Seeking Clues to Vornado (VNO) Q4 Earnings? A Peek Into Wall Street Projections for Key Metrics
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Vornado (VNO), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended December 2024.
Vornado Stock Surges 41.5% in Six Months: Will the Trend Last?
Tenants' healthy demand for premier office spaces and portfolio-repositioning initiatives is well-poised to support VNO's performance.
Key Reasons to Add Vornado Realty Stock to Your Portfolio Now
VNO's premium assets in select high-rent markets, portfolio-repositioning efforts and healthy balance sheet augur well for growth.
Vornado (VNO) Up 0.1% Since Last Earnings Report: Can It Continue?
Vornado (VNO) reported earnings 30 days ago. What's next for the stock?
Should You Retain Vornado Realty Stock in Your Portfolio Now?
VNO's premium assets in select high-rent markets and portfolio-repositioning efforts augur well despite ongoing choppiness in the office real estate market.
Vornado Stock Rises 81% in Six Months: Will the Trend Last?
Tenants' healthy demand for premier office spaces and portfolio-repositioning initiatives is well-poised to support VNO's performance.
Vornado Realty Trust: Manhattan Is The Best Office Real Estate Market In America, Preferreds Should Rally
Manhattan is experiencing a generational wave of office-to-residential conversions that are taking the supply of office space off the market. Vornado Series O Preferreds are trading at just under 66 cents on the dollar. Leasing is strong, with VNO expecting its portfolio occupancy rate to rise on the back of recent leases.
