Welcome to our dedicated page for Vornado Realty Trust news (Ticker: VNO), a resource for investors and traders seeking the latest updates and insights on Vornado Realty Trust stock.
Vornado Realty Trust (NYSE: VNO) is a top-tier owner, manager, and developer of office and retail properties. With a strong presence in key markets such as New York City, Chicago, and San Francisco, Vornado's portfolio includes some of the most prestigious Class A office and retail spaces in the nation. The company's total portfolio encompasses over 27 million square feet of LEED-certified buildings, underscoring its commitment to sustainability and environmental stewardship.
Since its inception, Vornado has been at the forefront of the real estate industry. The company celebrated its 50th anniversary on the New York Stock Exchange in 2012, emphasizing its longstanding influence and stability within the market. Vornado has also been recognized with the Energy Star Partner of the Year Award for Sustained Excellence in 2020, further cementing its role as a leader in sustainable real estate development.
Vornado's strategic focus on high-quality assets in prime locations has been a key driver of its success. In New York City, the company owns and manages an impressive array of properties, including iconic buildings in Manhattan. The company's presence extends to other major markets, with significant assets in both Chicago and San Francisco.
Recently, Vornado announced that it will file its annual report on Form 10-K for the year ended December 31, 2023, with the U.S. Securities and Exchange Commission. The company will also release its fourth-quarter and full-year earnings on February 12, 2024, followed by a quarterly earnings conference call and webcast on February 13, 2024, at 10:00 a.m. Eastern Time.
Vornado continues to engage in active development and redevelopment projects, maintaining a dynamic and forward-looking approach to real estate investment. The company's financial health, evidenced by consistent earnings releases and strategic dispositions, ensures its position as a reliable and influential player in the real estate market.
Vornado Realty Trust (VNO) reported Q3 2021 financial results, revealing a net income of $37.7 million or $0.20 per diluted share, down from $53.2 million or $0.28 per share in Q3 2020. Funds from Operations (FFO) for Q3 was $158.3 million, translating to $0.82 per share, compared to $278.5 million or $1.46 per share a year prior. For the nine months ending Sept 30, 2021, VNO posted net income of $89.8 million, a substantial recovery from a loss of $139.6 million in 2020. Adjusted FFO for nine months was $393.7 million, up from $370.9 million in 2020.
Vornado Realty Trust (NYSE:VNO) announced the declaration of quarterly preferred dividends for several series of shares. The dividends are as follows: Series A Convertible at $0.8125, Series L at $0.3375, Series M at $0.328125, Series N at $0.328125, and Series O at $0.3059375 per share. Notably, the Series O dividend includes an additional $0.0278125 for the period from September 22 to September 30, 2021. These dividends are payable on January 3, 2022, to shareholders of record on December 15, 2021.
Vornado Realty Trust (NYSE:VNO) announced a quarterly dividend of $.53 per share, payable on November 19, 2021, to shareholders on record as of November 8, 2021. This decision reinforces Vornado's commitment to returning value to its investors. As a fully-integrated equity real estate investment trust, Vornado remains focused on navigating ongoing challenges, particularly due to the COVID-19 pandemic, which poses risks to its financial performance and operations.
Vornado Realty Trust (NYSE:VNO) will release its third quarter earnings on November 1, 2021, after market close, and file its Form 10-Q with the SEC. A conference call will be held on November 2, 2021, at 10:00 a.m. ET, accessible via phone and webcast. The company notes that current conditions, particularly the ongoing effects of the COVID-19 pandemic, may impact its operational performance and financial conditions. Investors are advised to review risk factors related to the pandemic and its economic implications.
Vornado Realty Trust (NYSE: VNO) has priced a public offering of $300 million in perpetual 4.45% Series O Cumulative Redeemable Preferred Shares at $25.00 per share. The offering will close on September 22, 2021, subject to customary conditions. Proceeds will be used to redeem the 5.70% Series K Cumulative Redeemable Preferred Shares, which will also be fully redeemed on October 13, 2021, incurring a $9 million charge in Q3 2021. This strategic move aims to optimize capital structure amidst ongoing challenges presented by the COVID-19 pandemic.
Vornado Realty Trust (NYSE:VNO) has announced the sale of five retail properties in Manhattan for $184.5 million. These properties include locations on Madison Avenue and Broadway, currently generating negative income with an average street-level occupancy of 30%.
The sales will occur in three transactions, with Madison Avenue properties expected to close in Q3 2021 and Soho properties in Q1 2022. A total financial statement loss of approximately $7 million is anticipated, but the properties are unencumbered.
Vornado Realty Trust (NYSE:VNO) has completed its acquisition of a 45% interest in One Park Avenue from Canada Pension Plan Investment Board, increasing its ownership to 100%. The transaction values the property at $875 million and was executed under a right of first offer.
This acquisition reinforces Vornado's position within the real estate market as a fully-integrated equity real estate investment trust.
Vornado Realty Trust (VNO) reported financial results for the quarter ending June 30, 2021, showing a net income of $48.0 million ($0.25 per diluted share) compared to a loss of $197.8 million in the same quarter last year. Adjusted net income was $26.8 million ($0.14 per diluted share). Funds From Operations (FFO) for the quarter was $153.4 million ($0.80 per diluted share), down from $203.3 million a year earlier. The company completed significant transactions, including acquiring a 100% ownership stake in One Park Avenue for $875 million and achieved net proceeds from the sale of three condominium units at 220 Central Park South.
Vornado Realty Trust (NYSE:VNO) has declared quarterly preferred dividends for various series, including Series A Convertible at $0.8125, Series K at $0.35625, Series L at $0.3375, Series M at $0.328125, and Series N at $0.328125 per share. These dividends are payable on October 1, 2021, to shareholders on record as of September 15, 2021. The company emphasizes its fully-integrated equity REIT status and remains aware of the ongoing impact of the COVID-19 pandemic on its operations and the broader market.
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