Vornado Realty Trust VNO
Vornado's property holdings are predominantly focused on the crucial New York City market, complemented by a top-tier asset in both Chicago and San Francisco. The company is also at the forefront of the real estate sector regarding its sustainability initiatives. Demonstrating this commitment, Vornado manages an extensive portfolio exceeding 23 million square feet of LEED-certified buildings and was recognized with the Energy Star Partner of the Year Award for Sustained Excellence in 2019. A significant corporate milestone was reached in 2012 when Vornado celebrated five decades of being listed on the New York Stock Exchange.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-09 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / FFO, as Adjusted / leverage are from the Q1 2026 earnings release (filed 2026-05-04) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model VNO yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.81B | $904.96M | $481.46M | $1.77B | $1.26B |
| 2024 | $1.79B | $70.39M | $469.42M | $880.61M | $537.72M |
| 2023 | $1.81B | $105.49M | $457.57M | $845.61M | $648.15M |
| 2022 | $1.80B | $-346.50M | $526.31M | $423.31M | $798.94M |
| 2021 | $1.59B | $176.00M | $432.59M | $840.50M | $761.81M |
| 2020 | $1.53B | $-297.00M | $417.94M | $203.52M | $424.24M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2025-12-18 | 2025-12-18 | 2025-12-29 | 2025-12-08 | $0.74 | Annual |
| 2024-12-16 | 2024-12-16 | 2024-12-27 | 2024-12-05 | $0.74 | Annual |
| 2023-12-14 | 2023-12-15 | 2023-12-27 | 2023-12-05 | $0.30 | Annual |
| 2023-01-27 | 2023-01-30 | 2023-02-10 | 2023-01-18 | $0.38 | Semi-Annual |
| 2022-11-04 | 2022-11-07 | 2022-11-18 | 2022-10-27 | $0.53 | Quarterly |
| 2022-08-05 | 2022-08-08 | 2022-08-19 | 2022-07-28 | $0.53 | Quarterly |
| 2022-05-06 | 2022-05-09 | 2022-05-20 | 2022-04-27 | $0.53 | Quarterly |
| 2022-01-28 | 2022-01-31 | 2022-02-11 | 2022-01-19 | $0.53 | Quarterly |
| 2021-11-05 | 2021-11-08 | 2021-11-19 | 2021-10-28 | $0.53 | Quarterly |
| 2021-08-06 | 2021-08-09 | 2021-08-20 | 2021-07-29 | $0.53 | Quarterly |
| 2021-05-07 | 2021-05-10 | 2021-05-21 | 2021-04-28 | $0.53 | Quarterly |
| 2021-01-29 | 2021-02-01 | 2021-02-12 | 2021-01-20 | $0.53 | Quarterly |
| 2020-11-06 | 2020-11-09 | 2020-11-20 | 2020-10-29 | $0.53 | Quarterly |
| 2020-08-07 | 2020-08-10 | 2020-08-21 | 2020-07-30 | $0.53 | Quarterly |
| 2020-05-08 | 2020-05-11 | 2020-05-22 | 2020-04-29 | $0.66 | Quarterly |
| 2020-01-24 | 2020-01-27 | 2020-02-14 | 2020-01-15 | $0.66 | Quarterly |
| 2019-12-27 | 2019-12-30 | 2020-01-15 | 2019-12-18 | $1.95 | Special |
| 2019-11-01 | 2019-11-04 | 2019-11-18 | 2019-10-25 | $0.66 | Quarterly |
| 2019-08-02 | 2019-08-05 | 2019-08-16 | 2019-07-25 | $0.66 | Quarterly |
| 2019-05-03 | 2019-05-06 | 2019-05-17 | 2019-04-24 | $0.66 | Quarterly |
| 2019-01-25 | 2019-01-28 | 2019-02-14 | 2019-01-16 | $0.66 | Quarterly |
| 2018-11-02 | 2018-11-05 | 2018-11-19 | 2018-10-25 | $0.63 | Quarterly |
| 2018-08-03 | 2018-08-06 | 2018-08-17 | 2018-07-26 | $0.63 | Quarterly |
| 2018-05-04 | 2018-05-07 | 2018-05-18 | 2018-04-25 | $0.63 | Quarterly |
Coverage (payout of operating cash flow): 45.11%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — VNO
Why Is Vornado (VNO) Down 10.4% Since Last Earnings Report?
JBG SMITH Properties (NYSE:JBGS) versus Vornado Realty Trust (NYSE:VNO) Critical Review
The Dividend Winners and Losers From 5% Treasury Yields
Billionaire Joel Greenblatt's 5 Biggest Moves This Quarter Reveal a Surprising Defensive Shift
Ken Griffin Threatened to Walk Away From NYC Amid a Feud With Mamdani. Citadel Just Committed $4.5 Billion Instead
Vornado Realty Trust (NYSE:VNO) vs. Keppel DC REIT (OTCMKTS:KPDCF) Financial Comparison
Vornado Realty: PENN District Drives Remarkable Quarter For Leasing Volume
Vornado Realty Trust to Enter into 350 Park Avenue Joint Venture
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
Other Office REITs
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.