Vornado Realty Trust (VNO) Stock Price & Analysis
Vornado Realty Trust (VNO) closed at USD 34.34 on Thursday, October 22, 2026, up 4.41% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 32.89; the Oct 22, 2026 session ranged USD 32.52–34.72 on volume of 2,064,645 shares. Market capitalization is $6.80B, with a 52-week range of USD 24.57–41.6 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/VNO.md
Key facts (VNO)
- Last four reported quarters (through Jun 30, 2026): revenue $1.83B, net income $67.9M (3.7% margin) (SEC filings).
- Valuation: P/E 100.2x (avg 58.7x at the last 3 fiscal year-ends), net debt $1.92B.
- 1 of 80 tracked superinvestors hold VNO (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $7.9M; 2 not under a Rule 10b5-1 plan ($7.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $68K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (13 analysts), mean target USD 39.23 (range 31–50).
- Total return with dividends: 1Y -10.7% vs S&P 500 +14.9%; 5Y -11.3% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD -0.22, revenue estimate $477M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (VNO)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.59B | $1.80B | $1.81B | $1.79B | $1.81B | $1.83B |
| Net income | $176M | -$346M | $105M | $70.4M | $905M | $67.9M |
| EPS (diluted) | $0.53 | -$2.13 | $0.23 | $0.04 | $4.20 | — |
| Net margin | 11.1% | -19.2% | 5.8% | 3.9% | 50.0% | 3.7% |
| Revenue growth | +4.0% | +13.3% | +0.6% | -1.3% | +1.3% | — |
| Cash + short-term investments | $1.76B | $1.36B | $997M | — | — | — |
| Total debt | $2.56B | $2.56B | $2.56B | $2.57B | $2.26B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (VNO)
P/E 100.2x · P/S 3.7x · EV/Sales 4.8x · P/B 1.2x · Earnings yield 1.00% · Net debt $1.92B · EV $8.73B
P/E at fiscal year-ends: Dec 2025 7.4x, Dec 2024 117.4x, Dec 2023 51.4x.
Superinvestors (SEC 13F-HR, Q2 2026) (VNO)
1 of 80 tracked investors hold VNO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Pacific Advisors | 0.83% | $66.2M | Added +0.2% |
Insider sales (SEC Form 4, open-market, last ~7 months) (VNO)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-29 | Chera Haim | EVP - HEAD OF RETAIL | 90,000 | $3.1M | 45% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17 | Fascitelli Michael D | Director | 133,350 | $4.9M | 11.6% | No | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (VNO)
1 purchase, $68K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-08 | Wight Russell B Jr | Director | 4,000 | $68K | 16.94 | Too little history (no open-market trades in 2025) |
Analysts (VNO)
Consensus Hold (mean 3.00 on a 1–5 scale), 13 analysts; mean target USD 39.23 (low 31, high 50).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | Piper Sandler | Target lowered | Neutral | $44 → $37 |
| 2026-09-21 | Evercore ISI Group | Target lowered | Outperform | $46 → $43 |
| 2026-09-21 | Truist Securities | Target lowered | Hold | $39 → $35 |
| 2026-09-17 | Scotiabank | Target lowered | Sector Perform | $41 → $39 |
| 2026-09-15 | JP Morgan | Target raised | Neutral | $37 → $39 |
| 2026-09-02 | Scotiabank | Target raised | Sector Perform | $40 → $41 |
| 2026-08-10 | Citigroup | Target raised | Neutral | $34 → $40 |
| 2026-08-05 | Piper Sandler | Target raised | Neutral | $42 → $44 |
| 2026-08-05 | Evercore ISI Group | Target raised | Outperform | $45 → $46 |
| 2026-07-22 | Morgan Stanley | Downgrade | Equal-Weight → Underweight | $32 |
| 2026-07-21 | Scotiabank | Target raised | Sector Perform | $38 → $40 |
| 2026-07-21 | Piper Sandler | Target raised | Neutral | $28 → $42 |
Total return (dividends reinvested) (VNO)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -10.7% | -11.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -10.8% | -2.4% |
| Volatility (annualized) | 32.6% | 40.9% |
| Max drawdown | -35.9% (Oct 2025→Mar 2026) | -70.5% (Mar 2022→May 2023) |
VNO revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| New York | $380.3M | 82.3% | +6.7% |
| Other | $81.9M | 17.7% | -3.5% |
| Total revenue | $462.2M | 100% | — |
VNO revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Rental revenues | $405.1M | 87.6% | +6.0% |
| Fee and other income | $57.2M | 12.4% | -3.4% |
| — Building Maintenance Service (part of Fee and other income) | $33.3M | 7.2% | -10.9% |
| — Product & Service Other (part of Fee and other income) | $21.2M | 4.6% | +12.4% |
| — Management & Leasing Fees (part of Fee and other income) | $2.7M | 0.6% | -9.2% |
| Tenant Services | $10.5M | 2.3% | +15.6% |
| Parking Revenue | $5.2M | 1.1% | +4.3% |
| Total revenue | $462.2M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
VNO suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Hudson Pacific Properties and Blackstone | “On August 28, 2023, we, together with Hudson Pacific Properties and Blackstone Inc., formed a joint venture to develop Pier 94 into a 266,000 square foot purpose-built studio campus in Manhattan.” |
Quoted from the company's 10-K filed Feb 9, 2026.
VNO company outlook (results filed Aug 3, 2026)
- “NYSE: VNO | WWW.VNO.COM PAGE 6 OF 17 Active Development/Redevelopment Summary as of June 30, 2026: (Amounts in thousands, except square feet) (at Vornado's share) Projected Incremental Cash Yield Active Development Projects: Property Rentable Sq.”
- “Budget Cash Amount Expended Remaining Expenditures Projected Leasing Stabilization Year 623 Fifth Avenue office condominium 383,000 $ 450,000 (1) $ 244,255 $ 205,745 2028 10.1% ________________________________ (1) Includes purchase price.”
Quoted word-for-word from the SEC 8-K results press release.
VNO analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.22 | $0.02 | -1200.0% | $476.5M | 1 |
| Next quarter (ends Dec 2026) | $-0.21 | $0.03 | -800.0% | $483.7M | 1 |
| Current fiscal year (ends Dec 2026) | $-0.51 | $-0.02 | +2450.0% | $1.88B | 1 |
| Next fiscal year (ends Dec 2027) | $0.31 | $0.25 | +24.0% | $2.01B | 1 |
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 34.34 |
|---|---|
| Change | ▲ 4.41% (up) |
| Previous Close | USD 32.89 |
| Open | USD 32.71 |
| Day Range | USD 32.52 – 34.72 |
| 52-Week Range | USD 24.57 – 41.6 |
| Volume | 2,064,645 shares |
| Market Cap | $6.80B |
| Exchange | NYQ |
Technical Analysis (VNO)
Nexqual's technical model rates VNO "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 51.51 (neutral) |
| vs SMA50 | Below (USD 35.43) |
| MACD | -0.59 (negative) |
Analyst Ratings (VNO)
Wall Street analysts rate VNO "Hold" based on 13 analysts, with a mean price target of USD 39.23 (range USD 31–50), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 39.23 |
| High Target | USD 50 |
| Low Target | USD 31 |
| Buy / Hold / Sell | 4 / 6 / 3 |
Earnings (VNO)
| Next Earnings Date | 2026-11-02 |
|---|---|
| EPS Estimate | USD -0.22 |
| Revenue Estimate | $476.52M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.08 vs est -0.09 ▲ beat |
| 2026-03-31 | USD -0.08 vs est -0.11 ▲ beat |
| 2025-12-31 | USD -0.02 vs est 0.05 ▼ miss |
| 2025-09-30 | USD 0.06 vs est -0.02 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (VNO)
| Total Revenue | $1.88B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +5.00% |
| Gross Margin | +49.59% |
| Operating Margin | +9.80% |
| Profit Margin | +3.62% |
| ROE | +0.60% |
| Debt / Equity | 1.22 |
| Current Ratio | 5.34 |
| Total Cash | $710.46M |
| Total Debt | $8.19B |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Ownership (VNO)
| Insider Ownership | +7.44% |
|---|---|
| Institutional Ownership | +101.86% |
| Shares Outstanding | 186.72M |
| Float | 156.62M |
| Short % of Float | +8.52% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (VNO)
Vornado Realty Trust is led by Steven Roth, Chairman of the Board & CEO, per Nexqual as of October 23, 2026 at 09:23 UTC.
| Chairman of the Board & CEO | Steven Roth |
|---|---|
| President & CFO | Michael J. Franco |
| Senior Vice President of Operations | Robert Larson |
Major Backers & Investors (VNO)
Notable institutional backers of Vornado Realty Trust include NORGES BANK, Franklin Resources, Inc., Price (T.Rowe) Associates Inc, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| NORGES BANK | 7.72% |
| Franklin Resources, Inc. | 7.17% |
| Price (T.Rowe) Associates Inc | 5.11% |
| Resolution Capital Ltd | 5.03% |
| PUTNAM LARGE CAP VALUE FUND | 4.46% |
| Principal Financial Group, Inc. | 3.18% |
| Kemnay Advisory Services Inc. | 3.12% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 11.88% |
| Vanguard Group | 11.82% |
| State Street | 4.32% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From Vornado Realty Trust's Latest SEC 10-K Filing (filed 2026-02-09)
Partnerships
- We rely on technology, as well as meaningful stakeholder collaboration with our tenants, our employees, and our communities, to achieve this plan.
Legal & Regulatory Risks (Item 1A, quoted)
- We may face possible adverse federal tax audits and changes in federal tax laws, which may result in an increase in our tax liability.
- We may face possible adverse state and local tax audits and changes in state and local tax law.
- Compliance or failure to comply with the Americans with Disabilities Act (the "ADA") or other safety regulations and requirements could result in substantial costs.
- We may incur significant costs to comply with environmental laws and environmental contamination may impair our ability to lease and/or sell real estate.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| ARE | Alexandria Real Estate Equities | USD 43.33 | ▲ 2.53% |
| CUZ | Cousins Properties Incorporated | USD 28.67 | ▲ 3.39% |
| KRC | Kilroy Realty Corporation | USD 35.96 | ▲ 4.44% |
| BXP | BXP, Inc. | USD 61.49 | ▲ 4.86% |
| CDP | COPT Defense Properties | USD 33.83 | ▲ 2.24% |
| SLG | SL Green Realty Corp | USD 49.19 | ▲ 5.38% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt