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 (VNO) is a leading real estate investment trust focused on premier office and retail properties in top-tier urban markets. This page provides investors and stakeholders with direct access to official company announcements, financial updates, and strategic developments.
Discover timely information on quarterly earnings, property acquisitions, and sustainability initiatives, including LEED-certified building progress. Our curated collection ensures you stay informed about VNO's market position in New York City, Chicago, and San Francisco without navigating multiple sources.
Key updates include leasing activity in Class A properties, portfolio enhancements, and industry leadership in energy-efficient commercial spaces. Bookmark this page for streamlined access to Vornado's latest operational milestones and regulatory filings.
Vornado Realty Trust (NYSE:VNO) has announced a quarterly dividend of $.53 per share, set to be paid on August 20, 2021, to shareholders on record as of August 9, 2021. The company is a fully-integrated equity real estate investment trust.
Investors should consider potential risks, especially those related to the ongoing impact of the COVID-19 pandemic on financial performance and tenant operations, which might influence future cash flows and overall business stability.
Wegmans Food Markets is set to open its second NYC location at Vornado Realty Trust's 770 Broadway in Manhattan, scheduled for the second half of 2023. This 30-year lease encompasses approximately 82,000 square feet. Wegmans' first NYC store launched in Brooklyn in 2019, garnering positive community response. Vornado's CEO expressed excitement over the partnership, labeling Wegmans as a top addition for Manhattan. The location aims to foster local engagement, following Wegmans' community initiatives in Brooklyn.
Vornado Realty Trust (NYSE:VNO) has announced the acquisition of Canada Pension Plan Investment Board's 45% interest in One Park Avenue for approximately $158 million, raising its ownership to 100%. The property, valued at $875 million, has existing debt of $525 million with a current interest rate of LIBOR plus 1.11%. One Park Avenue, a 943,000 square foot office building, is 67% leased to New York University until 2050. The transaction is expected to close in Q3 2021, pending customary conditions.
Vornado Realty Trust (NYSE:VNO) is set to file its quarterly report on Form 10-Q for Q2 2021, ending June 30, 2021. The earnings release will be available after market close on August 2, 2021. A conference call to discuss the results will take place on August 3, 2021, at 10:00 a.m. ET. Investors can join the call by dialing provided numbers and access the live webcast on Vornado's website. The company remains aware of the ongoing challenges posed by the COVID-19 pandemic, which may impact its operations and financial performance.
Vornado Realty Trust (NYSE: VNO) has priced a $400 million offering of 2.15% senior unsecured notes due June 1, 2026, and $350 million of 3.40% senior unsecured notes due June 1, 2031. The notes will pay interest semi-annually. The total net proceeds of approximately $743 million will fund Eligible Green Projects and repay existing mortgage debt on theMART. This is Vornado’s second green bond offering, following a $450 million offering in 2014. The offering is expected to close on May 24, 2021, subject to customary closing conditions.
Vornado Realty Trust (NYSE: VNO) has successfully refinanced 555 California Street, a premier three-building office campus in San Francisco, totaling $1.2 billion. The new interest-only loan features a rate of LIBOR plus 1.93% for the first five years, increasing to LIBOR plus 2.43% by year seven, maturing in May 2028. Vornado's share of the net proceeds is approximately $454 million, replacing a previous $533 million loan at a fixed rate of 5.10%. The company maintains a 70% controlling interest in the partnership owning the buildings.
Vornado Realty Trust (NYSE: VNO) reported a net income of $4.08 million, or $0.02 per diluted share, for Q1 2021, a decrease from $4.96 million, or $0.03 per diluted share, in Q1 2020. The adjusted net income was $12.45 million, down from $31.95 million year-over-year. Funds from Operations (FFO) were $118.41 million, or $0.62 per diluted share, a decline from $130.36 million, or $0.68 per diluted share in the prior year. The company experienced challenges due to the ongoing COVID-19 pandemic, with 96% of rent collected and the permanent closure of the Hotel Pennsylvania impacting financial results.
Vornado Realty Trust (NYSE:VNO) announced the declaration of quarterly preferred dividends as follows:
- Series A Convertible: $0.8125 per share
- Series K Cumulative Redeemable: $0.35625 per share
- Series L Cumulative Redeemable: $0.3375 per share
- Series M Cumulative Redeemable: $0.328125 per share
- Series N Cumulative Redeemable: $0.328125 per share
These dividends are payable on July 1, 2021, to shareholders of record as of June 15, 2021.
Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend of $0.53 per share, payable on May 21, 2021, to shareholders of record as of May 10, 2021. This decision reflects the company's continued commitment to returning value to its investors.
However, the press release also highlights the ongoing impact of the COVID-19 pandemic on its business operations and tenant performance, which may affect future financial outcomes and presents several risks related to property improvements and financing commitments.
Vornado Realty Trust (NYSE: VNO) announced it will file its quarterly report on Form 10-Q for the quarter ending March 31, 2021, on May 3, 2021, after market close. A conference call will follow on May 4, 2021, at 10:00 a.m. ET to discuss earnings. Participants can join by phone or via a live webcast, accessible on www.vno.com. The report is expected to cover financial performance, although the company warns that the ongoing COVID-19 pandemic continues to pose significant risks to operations and financial health.
