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 (VNO) reported Q3 2024 financial results showing a net loss of $19.15M ($0.10 per share), compared to net income of $52.85M ($0.28 per share) in Q3 2023. Funds From Operations (FFO) decreased to $99.26M ($0.50 per share) from $119.49M ($0.62 per share) year-over-year. Adjusted FFO was $102.76M ($0.52 per share) versus $127.24M ($0.66 per share) in the prior year. The company's same-store NOI declined 8.4% compared to Q3 2023, with New York properties showing a 9.0% decrease. Occupancy rates stood at 86.7% for New York office, 77.6% for retail, and 94.5% for 555 California Street.
Vornado Realty Trust (NYSE:VNO) has announced its quarterly preferred dividend declarations. The company will pay the following dividends per share: $0.8125 for Series A Convertible, $0.3375 for Series L, $0.3281 for Series M, $0.3281 for Series N, and $0.2781 for Series O. All dividends will be paid on January 2, 2025, to shareholders of record as of December 16, 2024.
Vornado Realty Trust (NYSE:VNO) has announced the release date for its third quarter 2024 earnings report. The company will file its quarterly report on Form 10-Q and issue its earnings release on Monday, November 4, 2024, after the New York Stock Exchange closes. Following this, Vornado will host a quarterly earnings conference call and audio webcast on Tuesday, November 5, 2024, at 10:00 a.m. Eastern Time.
Interested parties can access the conference call by dialing 888-317-6003 (domestic) or 412-317-6061 (international) and entering the passcode 1557554. A live webcast will be available on Vornado's website at www.vno.com in the Investor Relations section, with an online playback available after the call.
Vornado Realty Trust (NYSE:VNO) has announced that Primark, the international clothing retailer, will open its first Manhattan store in THE PENN DISTRICT. Primark has signed a 78,760 square foot lease at 150 West 34th Street, a prime location in Manhattan. Ed Hogan, EVP Retail Leasing at Vornado, expressed excitement about Primark joining the rapidly transforming PENN DISTRICT, which is becoming a top destination for shopping, dining, and entertainment in New York.
This development aligns with Vornado's vision of creating a dynamic new district with high-quality retail, restaurants, and lifestyle offerings. The company views this as a significant step in enhancing THE PENN DISTRICT's appeal and attracting more visitors to the area.
Medline, a leading healthcare company, has significantly expanded its presence at THE MART, Vornado Realty Trust's (NYSE: VNO) iconic property in downtown Chicago. The company has more than tripled its office space from 51,000 to 161,000 square feet, securing a long-term lease through 2036. This expansion makes Medline one of THE MART's largest tenants.
THE MART, a 3.7-million-square-foot property, is home to numerous creative and innovative companies. Vornado recently completed a $70 million renovation program, enhancing the building's amenities and features. This expansion underscores THE MART's continued appeal in the Chicago office market and Medline's commitment to growth and employee well-being.
Vornado Realty Trust (NYSE: VNO) reported its Q2 2024 financial results. Net income for Q2 was $35.26 million, or $0.18 per diluted share, down from $46.38 million, or $0.24 per diluted share, in Q2 2023. Funds From Operations (FFO) was $148.94 million, or $0.76 per diluted share, up from $144.06 million, or $0.74 per diluted share, in Q2 2023. Adjusted FFO was $112.77 million, or $0.57 per diluted share, compared to $140.74 million, or $0.72 per diluted share, in Q2 2023.
For the first six months of 2024, net income was $26.23 million, or $0.13 per diluted share, compared to $51.55 million, or $0.27 per diluted share, for the same period in 2023. FFO for the six months was $253.07 million, or $1.29 per diluted share, compared to $263.15 million, or $1.35 per diluted share, in 2023. Adjusted FFO for the same period was $221.61 million, or $1.13 per diluted share, down from $257.03 million, or $1.32 per diluted share, in 2023.
Leasing activity included 1.32 million square feet of New York Office space at an average rent of $131.37 per square foot. Financing activities included several refinancings and loan extensions, notably at 280 Park Avenue and 435 Seventh Avenue.
Vornado Realty Trust (NYSE:VNO) has announced that its 52% owned street retail joint venture has agreed to sell a portion of UNIQLO's U.S. flagship store at 666 Fifth Avenue to UNIQLO for $350 million. The joint venture owns 17,295 square feet of UNIQLO's 90,732 square foot store. The estimated $340 million in net proceeds will be used to partially repay Vornado's $390 million of preferred equity on the asset.
The transaction is expected to close by the first quarter of 2025, subject to customary conditions and UNIQLO's concurrent closing with the office condominium owner. The joint venture will retain ownership of 23,832 square feet of retail space at 666 Fifth Avenue, including the Abercrombie & Fitch and Tissot stores. Eastdil Secured acted as an advisor to Vornado's street retail joint venture in this transaction.
Vornado Realty Trust (NYSE:VNO) has announced quarterly preferred dividend declarations by its Board of Trustees. The dividends are as follows:
- Series A Convertible: $0.8125 per share
- Series L Cumulative Redeemable: $0.3375 per share
- Series M Cumulative Redeemable: $0.3281250 per share
- Series N Cumulative Redeemable: $0.3281250 per share
- Series O Cumulative Redeemable: $0.2781250 per share
These dividends are payable on October 1, 2024, to shareholders of record on September 16, 2024. Vornado Realty Trust is described as a fully-integrated equity real estate investment trust.
Vornado Realty Trust (NYSE:VNO) has announced the release date for its second quarter 2024 earnings report. The company will file its quarterly report on Form 10-Q and issue its earnings release on Monday, August 5, 2024, after the New York Stock Exchange closes. A conference call and audio webcast are scheduled for Tuesday, August 6, 2024, at 10:00 a.m. Eastern Time.
Investors can access the conference call by dialing 888-317-6003 (domestic) or 412-317-6061 (international) with the passcode 8799771. A live webcast will be available on Vornado's website at www.vno.com in the Investor Relations section, with an online playback available after the call.
Vornado Realty Trust (NYSE: VNO) has officially opened Plaza33, a pedestrian plaza on 33rd Street in Manhattan’s West Side. Developed in partnership with the NYC Department of Transportation, the plaza features mature trees, lush landscaping, and a variety of seating options. It's lined with over 70 food and beverage offerings and connects directly to a major transit hub. The project is part of Vornado’s $2.7 billion investment in the PENN DISTRICT, which also includes significant renovations to the PENN 1 and PENN 2 office buildings and other public realm improvements.