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Vornado Realty Trust (VNO) stock

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NYSE: VNO NYSE Office REITs Next results ~February 8, 2027

B+ Fundamentals grade

Vornado Realty Trust is a US-listed company in the office REITs industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$59

Funds-from-operations model

Base case. Range ~$50–$72. Funds from operations growing 2.5% a year, discounted at 8%.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Vornado Realty Trust valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 2 selling9 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
  • Funds224 adding, 166 cuttingOf 49 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Vornado Realty Trust files

10-Q filed November 2: Vornado Realty Trust

Model value +14.0%

Vornado Realty Trust reported revenue of $1.84bn for the twelve months to September 2026, up 1.6% on the prior year and broadly in line with the growth rate seen a quarter earlier. Behind the headline figure, the diluted share count has fallen 4.9% year-on-year, which flatters per-share results by spreading the same earnings across fewer shares. This combination of steady top-line growth and a shrinking share base has pushed the fundamentals grade up from C+ to B+. Our model value has risen accordingly, from $51.75 to $58.97 a share. That compares with a current share price of $35.35, leaving a sizeable gap between where the shares trade and where the underlying business appears to be valued.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Vornado Realty Trust stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.83bn, up 1.4% on a year earlier, faster than -0.3% a quarter earlier. The diluted share count is down 2.1% on a year earlier, which lifts each remaining share. Our valuation models combined value is $51.75 a share, against a share price of $32.79.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 8, 2027 (estimated)

Vornado Realty Trust's trailing-twelve-month revenue grew 1.6% year on year, with a free-cash-flow margin of 7.5%. Where it stands out: change in share count of -4.9% ranks 1 of 18 office reits companies we cover.

Current signal Net margin compressing: TTM net margin fell to 0.5%, down 49.4pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 26.9% of revenue is left as operating profit.
  • Shrinking share count. Diluted shares fell 4.9% in a year, so each share owns more of the business.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 24.0% over 90 days.

Things to watch

  • High earnings multiple. The shares trade at 738 times the last 12 months' earnings, so expectations are demanding.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
-$0.23 against an average estimate of -$0.22: missed by 4.1%
Revenue
$468m, up 3.1% on a year earlier
Next report
November 2, 2026; average EPS estimate -$0.21

Vornado Realty Trust's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.2%
  • 1 week+0.5%
  • 1 month+3.7%
  • This year+5.1%
  • 1 year-5.8%
  • 5 years-8.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.8B
Net margin
0.5%
EPS (TTM, diluted)
$0.05

Growth

Revenue growth
+1.6%
Change in growth rate
+0.2 pts
Share count change
−4.9%

Earnings

Last results
November 2, 2026
Next results (est.)
February 8, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Vornado Realty Trust valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Vornado Realty Trust as an equity reit, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Funds-from-operations model Funds from operations growing 2.5% a year, discounted at 8%. ~$59 ~$50–$72 Primary model, counts double
Price-to-FFO vs peers Funds from operations per share times peers' typical (harmonic-mean) price-to-FFO. ~$1.0 ~$24–$49 Left out: out of range vs price (0.03x)
Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. — Does not apply: no current dividend figure in the company's tagged filings
Combined value Weighted average of the models that apply: the primary model (funds-from-operations model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$59 ~$50–$72 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Vornado Realty Trust with equity REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

46 /100

Moderate moat

How hard Vornado Realty Trust's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.7% of total assets over 10 years.

  • Durability 0 / 20

    Net margin has been a median 5.7%; its worst year was -18.0%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 7 of 7 years, at a median 35.3% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 0.7% over five years; stock-based pay has been a median 1.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.51 −112% $1.9bn +4%
Next $0.31 — $2.0bn +7%

Next year's EPS estimate has moved +24.0% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2450.0% on 90 days ago. In the last 30 days, 0 analysts raised Vornado Realty Trust's forecast and 0 cut it.

Consensus EPS forecast Vornado Realty Trust, last 90 days
−$1.00 −$0.50 $0.00 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.02 Current fiscal year, 60 days ago: −$0.25 Current fiscal year, 30 days ago: −$0.25 Current fiscal year, 7 days ago: −$0.25 Current fiscal year, Now: −$0.51 −$0.51 Next fiscal year, 90 days ago: $0.25 Next fiscal year, 60 days ago: $0.25 Next fiscal year, 30 days ago: $0.25 Next fiscal year, 7 days ago: $0.25 Next fiscal year, Now: $0.31 $0.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.02$0.25
60 days ago −$0.25$0.25
30 days ago −$0.25$0.25
7 days ago −$0.25$0.25
Now −$0.51$0.31

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.22 −$0.23 −4.1%
Mar 2026 −$0.11 −$0.08 +26.2%
Sept 2025 −$0.01 $0.06 +500.0%
Dec 2025 $0.05 −$0.02 −148.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 3, 2026

No numeric guidance in Vornado Realty Trust's latest earnings release (filed August 3, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

13 analysts, Nov 2026
Buy431%
Hold646%
Sell323%

Monthly trend

  1. Nov 2026462113
  2. Oct 2026462113
  3. Sep 2026462113

Counts of recommendations published by analysts covering Vornado Realty Trust, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.0%
of tradable shares
Days to cover
0.01
at average volume
Short interest, 1 month
−100%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
7.4%
of shares
Employees
3,145
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −5.8%

$37.12 on October 31, 2025 to $34.97

ThenNowEffect
Revenue (last 12 months) $1.8bn $1.8bn +1.4%
Net margin 48.5% 3.7% −92.3%
P/E multiple 8.5x 101.3x +1088.1%
Share count 201m 197m +2.2%

Biggest factor: net margin.

Last 3 years +59.2%

$21.96 on November 3, 2023 to $34.97

ThenNowEffect
Revenue (last 12 months) $1.8bn $1.8bn +0.3%
P/S multiple 2.3x 3.8x +62.1%
Share count 192m 197m −2.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VNO+18%−47%+40%+51%−19%+5%
Industry peers (median)+20%−37%+2%+10%−12%+3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VNO67%42%50%58%42%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VNO−20%−54%−53%−24%−27%−29%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 81% from February 21, 2017 to May 16, 2023. Getting back needed a 423% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$24.71 – $40.91
From 52-week high
−14.5%
vs 50-day average
+0.2%
vs 200-day average
+4.8%
Volatility (1 year)
32%
Beta vs S&P 500
0.98

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±3.8%
After a week
4 up, 7 down
typical move ±5.1%
After a month
5 up, 6 down
typical move ±8.8%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 +3.9% +3.3% −1.3% −7.0%
May 4, 2026 +0.2% +0.4% +2.8% +12.6%
February 9, 2026 +1.8% +0.2% −7.2% −15.7%
November 3, 2025 −5.5% −1.0% −4.4% −5.2%
August 4, 2025 −1.5% +1.0% −4.6% +4.5%
May 5, 2025 +3.0% −1.4% +7.9% +5.0%
February 10, 2025 −0.6% +0.8% −2.6% −13.0%
November 4, 2024 +3.7% +1.0% +9.9% +6.2%
August 5, 2024 +7.8% −2.0% +6.2% +18.2%
May 6, 2024 −7.7% +1.1% −6.8% −8.2%
February 12, 2024 −6.6% −1.4% −2.7% −1.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Vornado Realty Trust in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Vornado Realty Trust
$1.8B $1.8B $1.8B $1.8B $1.8B $1.9B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.8B Revenue (TTM), FY24 Q1: $1.8B Revenue (TTM), FY24 Q2: $1.8B Revenue (TTM), FY24 Q3: $1.8B Revenue (TTM), FY24 Q4: $1.8B Revenue (TTM), FY25 Q1: $1.8B Revenue (TTM), FY25 Q2: $1.8B Revenue (TTM), FY25 Q3: $1.8B Revenue (TTM), FY25 Q4: $1.8B Revenue (TTM), FY26 Q1: $1.8B Revenue (TTM), FY26 Q2: $1.8B Revenue (TTM), FY26 Q3: $1.8B $1.8B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.8B
FY24 Q1 $1.8B
FY24 Q2 $1.8B
FY24 Q3 $1.8B
FY24 Q4 $1.8B
FY25 Q1 $1.8B
FY25 Q2 $1.8B
FY25 Q3 $1.8B
FY25 Q4 $1.8B
FY26 Q1 $1.8B
FY26 Q2 $1.8B
FY26 Q3 $1.8B
Revenue growth, TTM YoY Vornado Realty Trust
-4% -2% 0% 2% 4% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 0.6% Revenue growth, TTM YoY, FY24 Q1: -0.1% Revenue growth, TTM YoY, FY24 Q2: -2.4% Revenue growth, TTM YoY, FY24 Q3: -2.4% Revenue growth, TTM YoY, FY24 Q4: -1.3% Revenue growth, TTM YoY, FY25 Q1: 0.6% Revenue growth, TTM YoY, FY25 Q2: 1.4% Revenue growth, TTM YoY, FY25 Q3: 2.4% Revenue growth, TTM YoY, FY25 Q4: 1.3% Revenue growth, TTM YoY, FY26 Q1: -0.3% Revenue growth, TTM YoY, FY26 Q2: 1.4% Revenue growth, TTM YoY, FY26 Q3: 1.6% 1.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 0.6%
FY24 Q1 -0.1%
FY24 Q2 -2.4%
FY24 Q3 -2.4%
FY24 Q4 -1.3%
FY25 Q1 0.6%
FY25 Q2 1.4%
FY25 Q3 2.4%
FY25 Q4 1.3%
FY26 Q1 -0.3%
FY26 Q2 1.4%
FY26 Q3 1.6%
Operating margin (TTM) Vornado Realty Trust
26% 27% 28% 29% 30% FY17 Q4 FY18 Q1 FY18 Q2 FY18 Q3 FY18 Q4 Operating margin (TTM), FY17 Q4: 29.2% Operating margin (TTM), FY18 Q1: 28.9% Operating margin (TTM), FY18 Q2: 28.6% Operating margin (TTM), FY18 Q3: 28.1% Operating margin (TTM), FY18 Q4: 26.9% 26.9%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY17 Q4 29.2%
FY18 Q1 28.9%
FY18 Q2 28.6%
FY18 Q3 28.1%
FY18 Q4 26.9%
FCF margin (TTM) Vornado Realty Trust
-20% 0% 20% 40% 60% 80% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 34.0% FCF margin (TTM), FY24 Q1: 30.8% FCF margin (TTM), FY24 Q2: 28.1% FCF margin (TTM), FY24 Q3: 30.6% FCF margin (TTM), FY24 Q4: 30.1% FCF margin (TTM), FY25 Q1: 30.8% FCF margin (TTM), FY25 Q2: 75.8% FCF margin (TTM), FY25 Q3: 61.0% FCF margin (TTM), FY25 Q4: 53.1% FCF margin (TTM), FY26 Q1: 43.5% FCF margin (TTM), FY26 Q2: -3.0% FCF margin (TTM), FY26 Q3: 7.5% 7.5%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 34.0%
FY24 Q1 30.8%
FY24 Q2 28.1%
FY24 Q3 30.6%
FY24 Q4 30.1%
FY25 Q1 30.8%
FY25 Q2 75.8%
FY25 Q3 61.0%
FY25 Q4 53.1%
FY26 Q1 43.5%
FY26 Q2 -3.0%
FY26 Q3 7.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 2,004 2,084 2,164 1,925 1,528 1,589 1,800 1,811 1,788 1,810 1,843
EBITDA 1,175 1,138 1,056 — — — — — — — —
Operating income 580 609 583 — — — — — — — —
Net income 907 227 450 3,148 −297 176 −346 105 70 905 9
Diluted EPS $4.34 $0.85 $2.01 $16.21 −$1.83 $0.53 −$2.13 $0.23 $0.04 $4.20 $0.05
Growth (year on year)
Revenue — +4.0% +3.8% −11.0% −20.6% +4.0% +13.3% +0.6% −1.3% +1.3% +1.6%
EBITDA — −3.1% −7.3% — — — — — — — —
Operating income — +5.0% −4.2% — — — — — — — —
Net income — −74.9% +97.9% +599.6% −109.4% — −296.9% — −33.3% +>999% −99.0%
Diluted EPS — −80.4% +136.5% +706.5% −111.3% — −501.9% — −82.6% +>999% −98.9%
Margins
EBITDA margin 58.6% 54.6% 48.8% — — — — — — — —
Operating margin 28.9% 29.2% 26.9% — — — — — — — —
Net margin 45.3% 10.9% 20.8% 163.6% −19.4% 11.1% −19.3% 5.8% 3.9% 50.0% 0.5%
Free-cash-flow margin 30.3% 39.8% 10.5% 30.8% 27.7% 47.7% 44.2% 34.0% 30.1% 53.1% 7.5%
Cash flow
Cash from operations 995 860 803 663 424 762 799 648 538 1,258 409
Capital spending 388 31 575 70 1 3 3 33 0 297 271
Free cash flow 608 830 228 593 423 759 796 615 538 962 139
Stock-based pay 34 33 32 54 49 38 29 43 30 25 24
Free cash flow after stock pay 574 797 196 539 374 720 767 572 508 936 114
Balance sheet
Cash 1,501 1,818 571 1,515 1,624 1,760 890 997 734 841 580
Total debt 1,333 1,592 1,669 1,767 1,818 2,563 2,560 2,563 2,567 2,265 2,601
Net debt (negative = net cash) −168 −225 1,098 252 194 802 1,670 1,566 1,833 1,424 2,020
Diluted shares 190m 191m 191m 191m 191m 192m 192m 192m 197m 201m 193m
Returned to shareholders
Dividends 476 496 479 504 827 406 407 129 141 141 —
Buybacks — — — — — 0 0 29 0 51 184
Total returned 476 496 479 504 827 406 407 158 141 192 184

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$184M
Buybacks, last 3 fiscal years
$80.2M
Diluted share count
−4.9%
year over year
Total shareholder yield
2.8%
dividends 0.0% + buybacks 2.8% of market value

Competitors: side by side with peers

Closest by revenue in office reits
Last 12 months unless stated VNO ARE KRC CUZ SLG DEI Median
Revenue, last 12 months $1.8bn $2.8bn $1.1bn $1.0bn $1.0bn $1.0bn $784m
Revenue growth, last 12 months 1.6% −9.9% −3.6% 8.5% 8.5% 0.8% 2.0%
Revenue growth, 3-year average 0.5% −0.5% −1.7% 9.3% 0.5% −0.2% 0.5%
Revenue growth, latest quarter 3.1% −10.7% −2.9% 4.5% 9.1% 1.6% 3.0%
Gross margin — — — 68.4% — 63.2% 60.0%
Operating margin 26.9% — — 68.3% 66.6% 19.2% 22.3%
Operating margin, 3-year average — — — 67.6% — 25.5% 17.1%
Net margin 0.5% −51.8% 2.6% 1.4% −16.9% −2.3% −0.9%
Cash from operations / revenue 22.2% 43.0% 45.5% 40.4% 8.9% 38.3% 32.8%
Free-cash-flow margin 7.5% −1.8% 31.1% −0.1% −17.1% 17.8% 7.8%
Free-cash-flow margin, 3-year average 33.1% 5.0% 37.2% 0.9% −10.0% 20.9% 9.7%
Stock pay / revenue 1.3% 1.5% 1.6% 1.7% 2.1% 2.1% 1.7%
Change in share count −4.9% −0.1% −0.8% 0.3% 6.6% 0.0% 0.2%

Median of all 18 companies we cover in office reits. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

18 office reits companies
Measure Company Peer median Rank
Revenue growth Growth 1.6% 2.0% 11 of 18
Change in growth rate Growth +0.2pp +0.1pp 8 of 18
Net margin Profitability 0.5% 0.4% 8 of 18
Stock pay as % of revenue Cash generation 1.3% 1.7% 3 of 14
Long-term debt as % of assets Balance sheet 16.6% 40.3% 3 of 11
Change in share count Balance sheet -4.9% 0.3% 1 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
New York $1.5B 81.6% ▲ 0.3%
Other $334M 18.4% ▲ 5.8%
Products and services
Line of business Revenue YoY
Rental Revenue $1.6B ▼ 0.7%
Fee and Other Income $252M ▲ 15.2%
Building Maintenance Service $158M ▲ 5.7%
Other $82.9M ▲ 50.9%
Tenant Services $45.2M ▲ 8.9%
Parking Revenue $20.3M ▲ 5.8%
Management and Leasing Fees $11.6M ▼ 21.2%

These categories overlap or exclude eliminations, so shares aren't shown.

From Vornado Realty Trust's 10-K filed February 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$7.3B
Institutions reporting
431
Shares held vs prior quarter
▲ 13.6%
Positions opened / closed
74 / 39

Top buyers and sellers, Q2 2026: 224 institutions bought and 166 sold ; the biggest buyer was Deutsche Bank Ag\ (+2.0M shares) and the biggest seller Tudor Investment Corp Et Al (−657K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $872M 22.2M 12.0% ▼ 2.7%
Vanguard Portfolio Management LLC $571M 14.5M 7.8% ▼ 0.7%
Norges Bank $566M 14.4M 7.8% —
Franklin Resources Inc $526M 13.4M 7.2% ▲ 1.7%
Price T Rowe Associates Inc $375M 9.5M 5.1% ▲ 3.3%
Resolution Capital Ltd $369M 9.4M 5.1% ▲ 25.9%
State Street Corp $317M 8.1M 4.3% ▼ 1.4%
Vanguard Capital Management LLC $297M 7.5M 4.1% ▼ 1.2%
Principal Financial Group Inc $234M 5.9M 3.2% ▲ 0.8%
Kemnay Advisory Services Inc. $229M 5.8M 3.1% 0.0%
AQR Capital Management LLC $145M 3.7M 2.0% ▲ 85.9%
Geode Capital Management, LLC $140M 3.6M 1.9% ▼ 0.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Vornado Realty Trust's complete shareholder register. Values are as reported by the filers ; 3 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $5.7M 9 trades by 2 insiders, last 12 months Insider sales History → $7.9M 3 trades by 2 insiders · 0% under pre-set plans
Net ▼ $2.2M net selling
Insider Date Trade Shares Price Value
Chera Haim EVP - HEAD OF RETAIL September 29, 2026 Sell 90,000 $34.01 $3.1M
Fascitelli Michael D Director June 17, 2026 Sell 125,350 $36.57 $4.6M
Fascitelli Michael D Director June 17, 2026 Sell 8,000 $37.34 $298,720
Wight Russell B Jr Director June 8, 2026 Buy 1,000 $15.00 $15,000
Wight Russell B Jr Director June 8, 2026 Buy 1,000 $17.69 $17,690
Wight Russell B Jr Director June 8, 2026 Buy 1,000 $17.63 $17,630
Wight Russell B Jr Director June 8, 2026 Buy 1,000 $17.44 $17,440
Tisch Daniel R Director March 12, 2026 Buy 30,000 $25.55 $766,500
Tisch Daniel R Director March 3, 2026 Buy 70,000 $26.30 $1.8M
Tisch Daniel R Director March 2, 2026 Buy 40,000 $27.09 $1.1M
Tisch Daniel R Director February 27, 2026 Buy 45,000 $27.70 $1.2M
Tisch Daniel R Director February 24, 2026 Buy 25,000 $27.85 $696,250

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 8 trades and filings

No trades in Vornado Realty Trust disclosed in the last 12 months; 8 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Purchase, $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded March 6, 2023, filed April 17, 2023
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded March 1, 2023, filed April 17, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 8, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 3, 2026
  • May 4, 2026
  • February 9, 2026
  • November 3, 2025
  • August 4, 2025

Recent SEC filings

Data status

When each part of this page on Vornado Realty Trust was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Vornado Realty Trust in brief

What does Vornado Realty Trust do?
Vornado Realty Trust is a US-listed company in the office REITs industry. Its financial year ends in December.
What is Vornado Realty Trust's stock ticker?
Vornado Realty Trust trades under the ticker VNO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Vornado Realty Trust's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Vornado Realty Trust reported revenue of $1.8B, 1.6% higher than a year earlier, according to its SEC filings.
What is Vornado Realty Trust's free cash flow?
Vornado Realty Trust's free-cash-flow margin is 7.5% of revenue over the trailing twelve months.
Who are Vornado Realty Trust's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Norges Bank. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Vornado Realty Trust buying back stock, and does it pay a dividend?
Vornado Realty Trust spent $184M on share repurchases over the trailing twelve months, and its diluted share count fell 4.9% over the year.
What is Vornado Realty Trust's market cap?
On November 2, 2026, Vornado Realty Trust's market capitalisation was about $6.8B, with a price-to-earnings ratio of 738.1 and net debt of $2B. Market figures come from third-party market data and may be delayed.
Who are Vornado Realty Trust's competitors?
In our Office REITs peer group, the companies closest to Vornado Realty Trust are Alexandria Real Estate Equities, Kilroy Realty Corp, Cousins Properties Inc, SL Green Realty Corp and Douglas Emmett Inc. The side-by-side comparison below sets their revenue, margins and growth against Vornado Realty Trust's.
Are insiders buying or selling Vornado Realty Trust stock?
Over the last 12 months, Vornado Realty Trust's directors and officers reported 9 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
When is Vornado Realty Trust's next earnings date?
Around February 8, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Vornado Realty Trust announces its own schedule.