Vornado Realty Trust (VNO)
Real Estate · Office REITs · NYSE
Vornado Realty Trust is a leading owner and developer of prime office and retail real estate concentrated in the New York City market.
What Vornado Realty Trust does
Vornado Realty Trust is a real estate investment trust (REIT) that owns, manages, and develops high-quality commercial real estate. Its portfolio is primarily concentrated in the New York City office market, supplemented by retail and other real estate assets. The company focuses on prime office buildings and significant retail properties in key urban markets.
Themes: Office real estate, NYC commercial real estate, REITs, Urban retail
Fundamentals
- Price$37.88 as of 2026-08-21 close
- Market cap$7.1B as of 2026-08-21
- 1-year return+4.7% 2025-08-21 close $36.17 → 2026-08-21 close $37.88
- P/E107.23 as of 2026-08-24
- Net margin+3.7% as of 2026-08-24
- Gross margin+48.3% as of 2026-08-24
- ROE+1.1% as of 2026-08-24
- Debt / equity1.29 as of 2026-08-24
- Revenue growth (YoY)+1.4% as of 2026-08-24
- Revenue CAGR (3y)+0.2% SEC XBRL
- Beta1.58 as of 2026-08-24
- Last reported earnings2026-08-03 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +1.9%; 3-year non-decreasing per-share dividend streak (SEC XBRL).
How VNO compares in its sector
- price-to-earnings ratiotop 25% 127 covered Real Estate peers, as of 2026-08-24
- net profit marginmiddle range 161 covered Real Estate peers, as of 2026-08-24
- operating marginmiddle range 161 covered Real Estate peers, as of 2026-08-24
- gross marginbottom 25% 156 covered Real Estate peers, as of 2026-08-24
- return on equitymiddle range 162 covered Real Estate peers, as of 2026-08-24
- 3-year revenue CAGRbottom 25% 155 covered Real Estate peers
- indicated dividend yieldbottom 10% 138 covered Real Estate peers, as of 2026-08-24
Position among covered Real Estate companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Top 10 scores & list membership
VNO is not currently in any published Top 10 list. Its scores are below.
Long-term score
37.3 #868 of 987 scored · #76 of 84 in Real Estate
Financial health 59th (free cash flow margin 30%, debt to equity 1.3) and long-term trend 48th (trading above its 200-day average); weakest is growth (23rd, revenue growth year over year 1.4%, 3-year revenue CAGR 0.2%).
Short-term score
46.6 #1013 of 1,704 scored · #36 of 94 in Real Estate
Volume and participation 63rd: trading volume is about normal versus its 30-day average; catalysts 53rd: analysts have raised their average price target by 0.6% since the prior reading; weakest is trend 34th: the price is 4% below the average price paid over the period covered, so the typical buyer over that stretch is under water.
Scores as of 21 Aug 2026. Each bar is a percentile: how this company ranked against every company the score ranked, 0–100. A list is a published formula and its output, not a recommendation. Method version 2.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, VNO's dividend was covered by reported results (earnings payout 16%, operating-cash-flow payout 11%). This describes past coverage, not a forecast.
- Earnings payout16% dividends / net income
- Operating-cash-flow payout11% dividends / operating cash flow — capital spending was not reported, so this does not subtract it
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How Vornado Realty Trust looks technically
Vornado Realty Trust (VNO) is trading 13.8% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 35 trading days ago — a "golden cross", a bullish long-term signal. There is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 14, below the 25 that marks a real trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 44, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 4 trading days ago.
Trend
8
| Distance from the 200-day | it is trading 13.8% above its 200-day average, the long-term trend line — a longer-term uptrend | +13.8% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $39.01 | $39.01 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $33.28 | $33.28 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing high 17 calendar days ago — the swings before that are what the structure reading is measured on | 17 sessions |
| Wave structure | its recent swings can be read as a completed three-part upward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes above 41.6. It is the only labelling that fits, though not with textbook proportions, and it describes the swings already printed, not what comes next. | possible three-wave upward correction, complete (atypical proportions) |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 35 trading days ago — a "golden cross", a bullish long-term signal | 35 sessions |
| Trend strength (14-day ADX) | there is no clear trend right now — the price is choppy (ADX, a 0–100 trend-strength gauge, is 14, below the 25 that marks a real trend) | 14.2 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 44, neither overbought (above 70) nor oversold (below 30) | 43.8 |
|---|---|---|
| Position in its 14-day range | it is trading near the bottom of its 14-day range ($37.61 to $41.60) — its "stochastic" reading is 7 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 6.8 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 34 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $43.31 | $43.31 |
|---|---|---|
| From the 52-week high | it is 12.5% below its 52-week high (its highest price of the past year) | -12.5% |
| Above the 52-week low | it is 54.2% above its 52-week low (its lowest price of the past year) | +54.2% |
| Below the 52-week high | it is 12.5% below its highest point of the past year | 12.5% |
| Since a 20-day breakout | it made a new 20-day low about 4 trading days ago | 4 sessions |
| Since a 55-day breakout | it made a new 55-day high about 14 trading days ago | 14 sessions |
| All-time high | its highest closing price on record is $98.81 (set on 2007-02-08) | $98.81 |
| Given back of the 52-week move | over the past year its closes ranged ($24.71 to $42.97), and it has recovered well over two thirds of its fall from last year’s high — 72% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $35.99 to $36.58. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 72.1% |
| From the all-time high | it is 61.7% below its all-time high | -61.7% |
| Nearest price level | it is sitting right on a resistance level at $37.90 — a price it turned at six times since 2024-10-07, most recently on 2026-07-23. Since 2024-08-21 it has 6 such levels below the current price and 7 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +0.1% |
| All-time low | its lowest closing price on record is $12.31 (set on 2023-05-17) | $12.31 |
| Above the all-time low | it is 207.7% above its all-time low | +207.7% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are narrower than usual versus its own recent 6-month history (tighter than about 82% of it) | 18th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $1.10 between its high and its low — about 2.9% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $1.10 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $37.53 and $40.98 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $37.53 – $39.25 – $40.98 |
| Typical daily range (% of price) | its price moves about 2.9% in a typical session — calmer than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 2.9% |
| Stretch from the 200-day average | it is trading 4.2 daily ranges above its 200-day average price (13.8% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 4.2 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 1.13× |
|---|
Analyst
2
| Change in the average price target | analysts have raised their average price target by 0.6% since the prior reading | +0.6% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
1
| Since a doji | 8 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 8 sessions ago |
|---|
Price gaps
2
| Gap at the open | it opened on 2026-08-21 1.0% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -1.0% |
|---|---|---|
| Open gap | it gapped 2.3% above the previous close 44 sessions ago and has not traded back through the level it left behind at 36.46 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +2.3% |
Price streaks
1
| Closing streak | it closed lower in its latest session, after a session that did not close lower — a single down day rather than a run | 1 session down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 7.6 percentage points (the stock lost 5.2% while the market gained 2.3%) | -7.6% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 16.7 percentage points (the stock gained 19.8% while the market gained 3.1%) | +16.7% |
| vs market, 6 months | over the past 6 months this stock beat the market by 19.2 percentage points (the stock gained 30.3% while the market gained 11.1%) | +19.2% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 15.8 percentage points (the stock gained 4.7% while the market gained 20.5%) | -15.8% |
Signal agreement
2
| Bullish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, outperforming the market over 6 months, near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast | 4 of 9 |
|---|---|---|
| Bearish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bearish state: MACD momentum is negative — these describe past price behaviour, not a forecast | 1 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading inside the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the zone traders read as unresolved — neither side has established a trend, and the band is where that gets settled. The band itself is thick, spanning 9.4% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | 0.0% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 17% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $32.35 — a volume-weighted average of daily closes over 157 sessions, not a true tick-by-tick VWAP. | +17.1% |
|---|---|---|
| Vs the average paid since it last reported | the price is 4% below the average price paid since it last reported on 2026-08-03 (its 10-Q), so the typical buyer over that stretch is under water. That average is $39.35 — a volume-weighted average of daily closes over 15 sessions, not a true tick-by-tick VWAP. | -3.7% |
Price levels it has turned at before
VNO last closed at $37.88 on 2026-08-21. Since 2024-08-21 it has turned at 6 prices below its last close and 7 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $37.90 | Resistance | 0.1% above the last close | turned there six times · 2024-10-07 to 2026-07-23 |
| $36.87 | Support | 2.7% below the last close | turned there four times · 2025-01-13 to 2025-07-08 |
| $35.91 | Support | 5.2% below the last close | turned there twice · 2025-06-25 to 2025-08-21 |
| $39.97 | Resistance | 5.5% above the last close | turned there 12 times · 2024-09-18 to 2026-08-13 |
| $34.99 | Support | 7.6% below the last close | turned there three times · 2025-03-13 to 2026-01-09 |
| $41.11 | Resistance | 8.5% above the last close | turned there five times · 2025-05-12 to 2026-08-04 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part upward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes above $41.60.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This labelling was already in place when we began recording count changes on 2026-08-13, so how long it has stood is not something we can say yet.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · trendless / choppy (low ADX) · beating the market · At the bottom of its 14-day range (stochastic below 20) · Under water since its last earnings report (below the anchored VWAP) · Trading inside the Ichimoku cloud | Learn: moving average · golden cross · adx · rsi · breakout
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingHold (2.77 mean, 1=Strong Buy…5=Strong Sell) — 13 analysts
- Mean price target$40.38 range $31.00 – $50.00; median $40.00
Analyst estimates, as of 2026-08-18. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for VNO
- Consensus EPS estimate-$0.22 next reporting period, as of 2026-08-18
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["High concentration in the New York City office market.","Sensitivity to interest rates and refinancing debt maturities.","Economic conditions affecting demand for commercial office and retail space."]
What changed in the latest 10-Q
AI-assisted comparison of VNO's 10-Q filed 2026-05-04 against the prior one filed 2025-11-03.
Management's Discussion & Analysis (MD&A)
- Added:
- Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2026 and 2025 (page 10) added for Vornado Realty Trust
- Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2026 and 2025 (page 16) added for Vornado Realty L.P.
- Removed:
- Consolidated Statements of Income (Unaudited) for the Three and Nine Months Ended September 30, 2025 and 2024 (page 7) removed for Vornado Realty Trust
- Consolidated Statements of Comprehensive Income (Unaudited) for the Three and Nine Months Ended September 30, 2025 and 2024 (page 8) removed for Vornado Realty Trust
- Consolidated Statements of Changes in Equity (Unaudited) for the Three and Nine Months Ended September 30, 2025 and 2024 (page 9) removed for Vornado Realty Trust
- Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2025 and 2024 (page 11) removed for Vornado Realty Trust
- Consolidated Statements of Income (Unaudited) for the Three and Nine Months Ended September 30, 2025 and 2024 (page 14) removed for Vornado Realty L.P.
- Consolidated Statements of Comprehensive Income (Unaudited) for the Three and Nine Months Ended September 30, 2025 and 2024 (page 15) removed for Vornado Realty L.P.
- Consolidated Statements of Changes in Equity (Unaudited) for the Three and Nine Months Ended September 30, 2025 and 2024 (page 16) removed for Vornado Realty L.P.
- Consolidated Statements of Cash Flows (Unaudited) for the Nine Months Ended September 30, 2025 and 2024 (page 18) removed for Vornado Realty L.P.
- Reworded:
- Balance sheet dates changed from September 30, 2025 and December 31, 2024 to March 31, 2026 and December 31, 2025
- Income statement periods changed from Three and Nine Months Ended September 30, 2025 and 2024 to Three Months Ended March 31, 2026 and 2025
- Comprehensive income statement periods changed from Three and Nine Months Ended September 30, 2025 and 2024 to Three Months Ended March 31, 2026 and 2025
- Changes in equity periods changed from Three and Nine Months Ended September 30, 2025 and 2024 to Three Months Ended March 31, 2026 and 2025
- Cash flows periods changed from Nine Months Ended September 30, 2025 and 2024 to Three Months Ended March 31, 2026 and 2025
- Notes to Consolidated Financial Statements page number changed from 20 to 18
- Reports of Independent Registered Public Accounting Firm page number changed from 39 to 37
- Notes:
- These changes reflect the transition from a third quarter (September 30) 10-Q filing to a first quarter (March 31) 10-Q filing, which is a normal seasonal difference in reporting periods
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
4 open-market purchases and 2 open-market sales by insiders in the last 90 days.
- Last 90 days4 buys ($67754) · 2 sells ($5M) — 1 buying, 1 selling insiders
- Last 180 days4 buys ($67754) · 2 sells ($5M) — 1 buying, 1 selling insiders
Activity heuristic: net buying (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-06-17. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about VNO's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Short interest (FINRA)
VNO had 10,093,255 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
VNO had 5.41% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 5.8 days to cover at the same settlement.
- Reported short interest (shares) 10,093,255
- Short interest (% of shares outstanding) 5.41%
- Prior settlement (shares) 10,445,027
- Reported change -3.37%
- Days to cover (reported) 5.8
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- SL Green Realty (SLG)
- Boston Properties (BXP)
- Empire State Realty Trust (ESRT)
- Brookfield Asset Management
- Kilroy Realty (KRC)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does Vornado Realty Trust (VNO) do?
Vornado Realty Trust is a real estate investment trust (REIT) that owns, manages, and develops high-quality commercial real estate. Its portfolio is primarily concentrated in the New York City office market, supplemented by retail and other real estate assets. The company focuses on prime office buildings and significant retail properties in key urban markets.
What sector is Vornado Realty Trust (VNO) in?
Vornado Realty Trust (VNO) is classified in the Real Estate sector. Its industry is Office REITs. It trades on NYSE.
Does VNO pay a dividend?
Yes — Vornado Realty Trust (VNO) pays a dividend, with an indicated yield of about 1.88% and 3-year non-decreasing per-share dividend streak (SEC EDGAR XBRL) (market data, as of 2026-08-24). Informational only — not financial advice.
Who are Vornado Realty Trust's (VNO) competitors?
Notable peers of Vornado Realty Trust (VNO) include SL Green Realty, Boston Properties, Empire State Realty Trust, Brookfield Asset Management and Kilroy Realty. This peer set is informational only — not financial advice.
Is Vornado Realty Trust (VNO) overbought or oversold right now?
Vornado Realty Trust (VNO) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 44, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on VNO come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.