Vornado Realty Trust is a fully integrated real estate investment trust with a portfolio of New York City office, retail, and multifamily assets, and the developer of the new Penn District. While concentrated in New York, the trust also owns assets in both Chicago and San Francisco. It generates revenue in the form of property rentals, fees charged for trade shows, parking revenues, management and leasing fees, etc. Vornado operates in the following reportable segments: New York (its key revenue-generating market) and Other.
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The chart shows the growth of an initial investment of $10,000 in Vornado Realty Trust, comparing it to the performance of the S&P 500 index.
All prices have been adjusted for splits and dividends.
Vornado Realty Trust (VNO) has returned -23.76% so far this year and -19.93% over the past 12 months. Looking at the last ten years, VNO has achieved an annualized return of -12.35%, underperforming the Benchmark (SPY), which averaged 12.23% per year.
The table below presents the monthly returns of Vornado Realty Trust (VNO) with color gradation from worst to best to easily spot seasonal factors.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.12% | -14.00% | -4.45% | -4.16% | ||||||||
| 2025 | 3.00% | 0.98% | -11.68% | -5.21% | 6.26% | 2.93% | 0.81% | -1.02% | 8.66% | -6.32% | -1.92% | -8.55% |
| 2024 | -4.16% | -3.80% | 9.47% | -9.87% | -5.76% | 6.01% | 14.51% | 13.32% | 16.36% | 5.13% | 2.21% | -2.16% |
| 2023 | 15.65% | -17.62% | -21.22% | -4.76% | -9.12% | 34.07% | 24.41% | 3.94% | -6.63% | -15.16% | 21.97% | 19.70% |
| 2022 | -2.43% | 5.95% | 5.20% | -15.52% | -10.15% | -18.36% | 6.59% | -13.15% | -10.92% | -2.56% | 3.18% | -18.39% |
| 2021 | 5.66% | 7.30% | 3.46% | -0.04% | 2.56% | -2.30% | -6.93% | -4.23% | 0.19% | 0.71% | -6.35% | 1.06% |
| 2020 | -1.42% | -18.83% | -32.87% | 28.17% | -14.84% | 5.67% | -9.87% | 4.25% | -5.60% | -9.27% | 24.31% | -5.73% |
| 2019 | 13.66% | -3.83% | 0.12% | 2.28% | -4.13% | -3.57% | -0.54% | -5.99% | 5.52% | 2.87% | -0.74% | 3.08% |
| 2018 | -8.47% | -7.31% | 1.71% | 0.92% | 2.20% | 6.01% | -2.61% | 8.15% | -4.96% | -6.79% | 5.36% | -13.73% |
| 2017 | 0.93% | 3.21% | -8.68% | -4.10% | -4.58% | 2.14% | -16.03% | -6.65% | 3.17% | -2.78% | 3.65% | 0.51% |
| 2016 | 1.91% | -0.60% | 5.49% | 6.87% | -3.56% | -2.15% | -7.96% | 5.38% | 6.73% |
The charts below present risk-adjusted performance metrics for Vornado Realty Trust (VNO) and compare them to a Benchmark (SPY). These indicators evaluate an investment's returns against its associated risks.
The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.
These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns.
The chart below shows the rolling Sharpe ratio of VNO compared to the benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.
The current Vornado Realty Trust volatility is 2.09%, representing the standart deviation of percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
The Drawdowns chart displays portfolio losses from any high point along the way. It shows the maximum percentage drop from a peak to a trough over a specified period, indicating the risk of significant losses.
Although chart shows positive values, it represents the percentage drop from the peak, so a value of 10% means the portfolio has dropped 10% from its highest point.
The income statement provides a summary of a company's revenues, expenses, and profits over a specific period. It shows how much money the company earned (revenues) and how much it spent (expenses), leading to the net income or profit. This statement is crucial for understanding a company's financial performance and profitability.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities And Equity (USD) | 15.52B | 16.00B | 16.19B | 16.49B | 17.27B | 16.22B | 18.29B | 17.18B | 17.40B | 20.81B | 21.14B | 21.25B | 20.10B | 21.97B | 20.45B |
| Temporary Equity (USD) | 647.95M | 834.66M | 638.45M | 436.73M | 688.68M | 606.27M | 888.92M | 783.56M | 984.94M | 1.28B | 1.23B | 1.34B | 1.00B | 944.15M | 1.16B |
| Equity Attributable To Parent (USD) | 5.99B | 5.16B | 5.51B | 5.84B | 6.24B | 6.53B | 6.73B | 4.47B | 4.34B | 6.90B | 6.70B | 6.75B | 6.77B | 6.85B | 6.83B |
| Equity Attributable To Noncontrolling Interest (USD) | 169.85M | 178.97M | 196.22M | 236.65M | 278.89M | 414.96M | 578.95M | 642.65M | 670.05M | 719.98M | 778.48M | 743.96M | 829.51M | 1.05B | 680.13M |
| Equity (USD) | 6.16B | 5.34B | 5.71B | 6.08B | 6.52B | 6.95B | 7.31B | 5.11B | 5.01B | 7.62B | 7.48B | 7.49B | 7.59B | 7.90B | 7.51B |
| Redeemable Noncontrolling Interest, Preferred (USD) | - | - | - | - | - | - | 4.54M | 5.43M | 5.43M | 5.43M | 5.43M | 1.00M | 1.00M | 46.00M | 226.00M |
| Redeemable Noncontrolling Interest, Common (USD) | - | - | - | - | - | - | 884.38M | 778.13M | 979.51M | 1.27B | 1.22B | 1.34B | 1.00B | 898.15M | 934.68M |
| Redeemable Noncontrolling Interest (USD) | 647.95M | 834.66M | 638.45M | 436.73M | 688.68M | 606.27M | 888.92M | 783.56M | 984.94M | 1.28B | 1.23B | 1.34B | 1.00B | 944.15M | 1.16B |
| Long-term Debt (USD) | 2.26B | 2.57B | 2.56B | 2.56B | 2.56B | 1.82B | 1.77B | 1.67B | 1.59B | 1.33B | 1.58B | - | - | - | - |
| Noncurrent Liabilities (USD) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Current Liabilities (USD) | 8.72B | 9.83B | 9.84B | 9.98B | 10.06B | 8.67B | 10.09B | 11.29B | 11.41B | 11.92B | 12.44B | 12.42B | 11.50B | 13.12B | 11.78B |
| Liabilities (USD) | 8.72B | 9.83B | 9.84B | 9.98B | 10.06B | 8.67B | 10.09B | 11.29B | 11.41B | 11.92B | 12.44B | 12.42B | 11.50B | 13.12B | 11.78B |
| Noncurrent Assets (USD) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Current Assets (USD) | 15.52B | 16.00B | 16.19B | 16.49B | 17.27B | 16.22B | 18.29B | 17.18B | 17.40B | 20.81B | 21.14B | 21.25B | 20.10B | 21.97B | 20.45B |
| Assets (USD) | 15.52B | 16.00B | 16.19B | 16.49B | 17.27B | 16.22B | 18.29B | 17.18B | 17.40B | 20.81B | 21.14B | 21.25B | 20.10B | 21.97B | 20.45B |
Vornado Realty Trust announced quarterly preferred dividends across five series of preferred shares, payable on April 1, 2026 to shareholders of record on March 16, 2026. Dividend amounts range from $0.2781250 to $0.8125000 per share depending on the series.
Vornado Realty Trust announced quarterly preferred dividends across five series (A, L, M, N, and O), payable on April 1, 2026 to shareholders of record on March 16, 2026. The dividend amounts range from $0.2781250 to $0.8125000 per share depending on the series.
Vornado Realty Trust (NYSE:VNO) announced the acquisition of 3 East 54th Street in Manhattan's Plaza District for $141 million. The 18,400 square-foot demolition-ready site, located between Fifth and Madison Avenues near the St. Regis Hotel, is zoned for approximately 232,500 buildable square feet. Vornado acquired the property's mortgage in 2024-2025, with the $107 million loan balance credited toward the purchase price. The acquisition complements Vornado's existing nearby holdings in the Plaza District and Park Avenue.
Vornado Realty Trust announced the acquisition of 3 East 54th Street, a demolition-ready property on 18,400 square feet of land in Manhattan, for $141 million. The company acquired the mortgage on the property in 2024-2025 with a loan balance of $107 million, which was credited toward the purchase price. The site is zoned for approximately 232,500 buildable square feet and complements Vornado's existing Park Avenue and Fifth Avenue holdings.
Vornado Realty Trust announced the pricing of a $500 million offering of 5.75% senior unsecured notes due February 1, 2033, at 99.824% of face value. The net proceeds of approximately $494 million will be used to repay $400 million of unsecured notes due June 1, 2026, with the remainder allocated for general corporate purposes. The offering is expected to close on January 14, 2026.
Vornado Realty Trust announced quarterly preferred dividends for multiple series of shares, payable on January 2, 2026 to shareholders of record on December 15, 2025.
Vornado Realty Trust announced quarterly preferred dividends for multiple series, payable on January 2, 2026 to shareholders of record on December 15, 2025.
Alexander's, Inc., a real estate investment trust with five properties in New York City, declared a quarterly dividend of $4.50 per share, payable on November 28, 2025 to stockholders of record on November 10, 2025.
Vornado Realty Trust acquired the 623 Fifth Avenue office condominium for $218 million, a 36-story building currently 75% vacant. The company plans to reposition and redevelop the property into a premier Class A boutique office building.
Vornado Realty Trust reported Q2 2025 earnings with a significant one-time $803.2 million GAAP gain from a NYU master lease, but core operating metrics remained flat. Occupancy improved, though still below long-term targets, with ongoing focus on Manhattan property redevelopment.