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.
Snapshot
Reported FFO / FFO, as Adjusted / leverage are from the Q1 2026 earnings release (filed 2026-05-04) — 8-K, EX-99.1.
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.
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
| 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 | Quarterly |
| 2023-01-27 | 2023-01-30 | 2023-02-10 | 2023-01-18 | $0.38 | Monthly |
| 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).
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.