Vornado Realty Stock Price, News & Analysis

Vornado Realty Trust (NYSE:VNO) announced it will file its quarterly Form 10-Q for the period ending September 30, 2022, and release its Q3 earnings on October 31, 2022, after market hours. A quarterly earnings call is scheduled for November 1, 2022, at 10:00 a.m. ET, accessible via phone and webcast. The release emphasizes the ongoing challenges posed by the COVID-19 pandemic, which continues to impact its business operations and tenants significantly.

Vornado Realty Trust (NYSE: VNO) reported a net income of $50.4 million for Q2 2022, up from $48.0 million a year prior. Earnings per diluted share increased to $0.26 from $0.25. Adjusted net income was $37.4 million, or $0.19 per diluted share, compared to $26.8 million, or $0.14 per share in Q2 2021. Funds from Operations (FFO) remained steady at $155.0 million, with adjusted FFO rising to $160.1 million, marking a significant increase from the previous year. For six months ending June 30, 2022, net income reached $76.9 million, up from $52.1 million, reflecting an improving financial trajectory.

Vornado Realty Trust (NYSE:VNO) has declared quarterly preferred dividends for multiple series. The Series A Convertible dividend is set at $0.8125 per share, while the Series L, M, N, and O Cumulative Redeemable dividends are $0.3375, $0.328125, $0.328125, and $0.278125, respectively. All dividends are payable on October 3, 2022, to shareholders on record as of September 15, 2022. This announcement reflects Vornado's commitment to return income to its shareholders amidst ongoing challenges.

Vornado Realty Trust (NYSE: VNO) has declared a quarterly dividend of $0.53 per share, payable on August 19, 2022 to shareholders on record as of August 8, 2022. This decision aims to provide income to common shareholders while reflecting the company's ongoing commitment to return value.

As a fully-integrated equity real estate investment trust, Vornado is navigating the challenges posed by the ongoing COVID-19 pandemic and its impact on performance.

Vornado Realty Trust (NYSE:VNO) announced it will file its quarterly report on Form 10-Q for the quarter ended June 30, 2022, with the SEC and will release its second-quarter earnings on August 1, 2022, after market close. A conference call will follow on August 2, 2022, at 10:00 a.m. ET, accessible via a dedicated phone line or on their website. The company emphasizes potential forward-looking statements regarding risks, mainly from the ongoing impacts of the COVID-19 pandemic on its business environment and financial performance.

Vornado Realty Trust (NYSE:VNO) announced the completion of four significant refinancings totaling $3.2 billion. The company extended its $1.25 billion revolving credit facility's maturity to December 2027 and secured another $1.25 billion facility maturing in April 2026. Additionally, an $800 million term loan was extended to December 2027. Vornado also refinanced a $700 million loan for 770 Broadway and a $480 million loan for 100 West 33rd Street, enhancing liquidity and extending maturities.

Vornado Realty Trust (NYSE:VNO) has successfully completed the sale of the Center Building in Long Island City, New York, for $172.8 million. This eight-story office building spans 498,000 square feet. The company anticipates a financial gain of $15 million to be recognized in the second quarter, along with a tax gain estimated at $74 million.

Vornado Realty Trust operates as a fully-integrated equity real estate investment trust.

Vornado Realty Trust (NYSE: VNO) reported a significant increase in net income for Q1 2022, reaching $26.5 million or $0.14 per diluted share, compared to $4.1 million or $0.02 in Q1 2021. Adjusted net income also rose to $31.7 million or $0.16 per diluted share. Funds from Operations (FFO) attributable to common shareholders increased to $154.9 million or $0.80 per diluted share. Leasing activity included 272,000 square feet of New York office space with an initial rent of $81.07 per square foot. Vornado also announced plans to sell several properties, anticipating significant gains.