Welcome to our dedicated page for Vornado Realty news (Ticker: VNO), a resource for investors and traders seeking the latest updates and insights on Vornado Realty stock.
Vornado Realty Trust (NYSE: VNO) is a fully-integrated equity real estate investment trust with a portfolio focused on Class A office and retail properties, particularly in Manhattan. The VNO news page on Stock Titan aggregates company announcements, allowing readers to follow how Vornado manages and finances its real estate holdings over time.
According to the company’s press releases, Vornado regularly issues transaction-focused news, such as acquisitions and dispositions of major properties and interests. Recent examples include the acquisition of the 623 Fifth Avenue office condominium, the purchase of 3 East 54th Street as a development site, and the sale of the 512 West 22nd Street Class A office building through a joint venture. The company also reports on condominium sales at locations like 220 Central Park South and Canal Street properties, as well as changes in joint venture positions.
Investors tracking VNO can also review capital markets and financing updates, including announcements about senior unsecured notes issued by Vornado Realty L.P., extensions and upsizing of revolving credit facilities and term loans, and refinancings of specific properties such as PENN 11, Independence Plaza and 4 Union Square South. In addition, Vornado publishes earnings releases with net income and Funds From Operations (FFO) information, and it announces dividends on its common and preferred shares.
This news feed is useful for readers who want a single place to follow Vornado’s property-level activity, financing decisions, leasing arrangements such as the master lease at 770 Broadway, and periodic financial reporting. By reviewing these updates together, users can see how the company describes the evolution of its portfolio and capital structure.
Vornado Realty Trust (NYSE:VNO) announced the promotion of Deirdre Maddock to Senior Vice President, Chief Accounting Officer, succeeding Matthew Iocco, who is retiring after 22 years. Maddock, previously Vice President of SEC Reporting and Corporate Accounting, joined Vornado in 2016 after auditing at Deloitte & Touche LLP. This leadership change supports Vornado's transition to a new generation of leaders, with Iocco staying on until December 31, 2021, to ensure a smooth transition.
Vornado Realty Trust (VNO) reported Q3 2021 financial results, revealing a net income of $37.7 million or $0.20 per diluted share, down from $53.2 million or $0.28 per share in Q3 2020. Funds from Operations (FFO) for Q3 was $158.3 million, translating to $0.82 per share, compared to $278.5 million or $1.46 per share a year prior. For the nine months ending Sept 30, 2021, VNO posted net income of $89.8 million, a substantial recovery from a loss of $139.6 million in 2020. Adjusted FFO for nine months was $393.7 million, up from $370.9 million in 2020.
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Vornado Realty Trust (NYSE:VNO) announced the declaration of quarterly preferred dividends for several series of shares. The dividends are as follows: Series A Convertible at $0.8125, Series L at $0.3375, Series M at $0.328125, Series N at $0.328125, and Series O at $0.3059375 per share. Notably, the Series O dividend includes an additional $0.0278125 for the period from September 22 to September 30, 2021. These dividends are payable on January 3, 2022, to shareholders of record on December 15, 2021.
Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend of $.53 per share, payable on November 19, 2021, to shareholders on record as of November 8, 2021. This decision reinforces Vornado's commitment to returning value to its investors. As a fully-integrated equity real estate investment trust, Vornado remains focused on navigating ongoing challenges, particularly due to the COVID-19 pandemic, which poses risks to its financial performance and operations.
Vornado Realty Trust (NYSE:VNO) will release its third quarter earnings on November 1, 2021, after market close, and file its Form 10-Q with the SEC. A conference call will be held on November 2, 2021, at 10:00 a.m. ET, accessible via phone and webcast. The company notes that current conditions, particularly the ongoing effects of the COVID-19 pandemic, may impact its operational performance and financial conditions. Investors are advised to review risk factors related to the pandemic and its economic implications.
Vornado Realty Trust (NYSE: VNO) has priced a public offering of $300 million in perpetual 4.45% Series O Cumulative Redeemable Preferred Shares at $25.00 per share. The offering will close on September 22, 2021, subject to customary conditions. Proceeds will be used to redeem the 5.70% Series K Cumulative Redeemable Preferred Shares, which will also be fully redeemed on October 13, 2021, incurring a $9 million charge in Q3 2021. This strategic move aims to optimize capital structure amidst ongoing challenges presented by the COVID-19 pandemic.
Vornado Realty Trust (NYSE:VNO) has announced the sale of five retail properties in Manhattan for $184.5 million. These properties include locations on Madison Avenue and Broadway, currently generating negative income with an average street-level occupancy of 30%.
The sales will occur in three transactions, with Madison Avenue properties expected to close in Q3 2021 and Soho properties in Q1 2022. A total financial statement loss of approximately $7 million is anticipated, but the properties are unencumbered.
Vornado Realty Trust (NYSE:VNO) has completed its acquisition of a 45% interest in One Park Avenue from Canada Pension Plan Investment Board, increasing its ownership to 100%. The transaction values the property at $875 million and was executed under a right of first offer.
This acquisition reinforces Vornado's position within the real estate market as a fully-integrated equity real estate investment trust.
Vornado Realty Trust (VNO) reported financial results for the quarter ending June 30, 2021, showing a net income of $48.0 million ($0.25 per diluted share) compared to a loss of $197.8 million in the same quarter last year. Adjusted net income was $26.8 million ($0.14 per diluted share). Funds From Operations (FFO) for the quarter was $153.4 million ($0.80 per diluted share), down from $203.3 million a year earlier. The company completed significant transactions, including acquiring a 100% ownership stake in One Park Avenue for $875 million and achieved net proceeds from the sale of three condominium units at 220 Central Park South.