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NYSE · Real Estate

VORNADO REALTY TRUST (VNO)

As-reported financials and SEC filings for VORNADO REALTY TRUST. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About VORNADO REALTY TRUST

Vornado Realty Trust is a real estate investment trust that owns, operates, and develops office, retail, and residential properties primarily in New York City, Chicago, and San Francisco. Its portfolio includes office buildings, retail spaces, residential units, and development projects such as the PENN District and Sunset Pier 94 Studios. The company also provides building maintenance services and focuses on sustainability initiatives, including operating LEED-certified buildings and pursuing carbon neutrality by 2030.

Snapshot

Revenue
$1.81B
Revenue growth (YoY)
1.3%
Net income
$905.0M
Diluted EPS
$4.20
Gross margin
Operating margin
Net margin
50.0%
FCF margin
ROE
net income / fiscal-year-end equity
P/E
1156.0×
trailing when available, otherwise FY EPS
Market cap
$6.87B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Vornado Realty Trust

  • Revenue grew 1.3% to $1.8B in FY2025, after a 1.3% decline the year before.
  • Most recent quarter Q2 FY2026: revenue $462M, up 4.7% from Q2 FY2025.
  • Net income rose more than tenfold to $905M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Vornado Realty Trust’s fundamentals sit among the 165 REITs. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Net margin50.0%
94th percentile of 156
Revenue growth (YoY)+1.3%
38th percentile of 161
P/E1156.0×
Highest of 109
Short interest10.70d
93rd percentile of 154

Vornado Realty Trust’s P/E of 1156.0 is the highest of the 109 peers with a meaningful P/E. Vornado Realty Trust’s net margin of 50.0% ranks in the 94th percentile of the 156 REITs reporting it.

No reported insider purchases (code P) in the last 90 days; 2 insider sales totaling $4.9M. For context, about 14% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 4 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+4 quant / multi-strat
Initiated / added
3
0 new, 3 added
Reduced / exited
4
2 trimmed, 2 exited
Combined position
$270.3M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$144.8M3.7MAdded
Gotham Asset ManagementQ2 2026$75.8M1.9MAdded
Renaissance TechnologiesquantQ2 2026$20.5M521.0KAdded
Two Sigma InvestmentsquantQ2 2026$15.9M405.1KReduced
Millennium ManagementquantQ2 2026$13.2M337.0KReduced

No longer held by: Citadel Advisors (as of Q2 2026), D. E. Shaw (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
2
$4.9M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-17
filed 2026-06-18
Fascitelli Michael DDirectorSell125.3K$36.57$4.6M
2026-06-17
filed 2026-06-18
Fascitelli Michael DDirectorSell8.0K$37.34$299K
2026-06-08
filed 2026-06-10
WIGHT RUSSELL B JRDirectorBuy1.0K$17.69$18K
2026-06-08
filed 2026-06-10
WIGHT RUSSELL B JRDirectorBuy1.0K$17.63$18K
2026-06-08
filed 2026-06-10
WIGHT RUSSELL B JRDirectorBuy1.0K$17.44$17K
2026-06-08
filed 2026-06-10
WIGHT RUSSELL B JRDirectorBuy1.0K$15.00$15K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
11.1M
settled 2026-08-31
Change vs prior
+19.2%
vs previous settlement
Days to cover
10.70
at avg daily volume
Avg daily volume
1.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-3111.1M+19.2%10.70
2026-08-149.3M-7.5%5.83
2026-07-3110.1M-3.4%5.80
2026-07-1510.4M-2.8%6.31
2026-06-3010.7M-4.0%6.31
2026-06-1511.2M-3.9%5.91
2026-05-2911.7M+1.9%6.96
2026-05-1511.4M+7.5%5.59

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$1.81B$1.79B$1.81B$1.80B$1.59B
Gross profit
Operating income
Net income$905.0M$70.4M$105.5M$-346.5M$176.0M
Diluted EPS$4.20$0.04$0.23$-2.13$0.53

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$840.9M$733.9M$997.0M$889.7M$1.76B
Current assets
Total assets$15.52B$16.00B$16.19B$16.49B$17.27B
Current liabilities
Long-term debt$2.26B$2.57B$2.56B$2.56B$2.56B
Total liabilities$8.72B$9.83B$9.84B$9.98B$10.06B
Total equity$6.16B$5.34B$5.71B$6.08B$6.52B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$1.26B$537.7M$648.2M$798.9M$761.8M
Capital expenditure
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$462.2M4.7%$32.0M$0.08
Q1 FY2026$459.1M-0.5%$-7.3M
Q4 FY2025$453.7M-0.9%$16.1M
Q3 FY2025$453.7M2.4%$27.1M$0.06
Q2 FY2025$441.4M-2.0%$759.3M
Q1 FY2025$461.6M5.8%$102.4M$0.43
Q4 FY2024$457.8M3.6%$16.7M
Q3 FY2024$443.3M-1.7%$-3.6M

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorReal Estate
SIC industryReal Estate Investment Trusts
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2012
SEC CIK899689

Selected SEC filings

10-K2026-02-09
View on EDGAR →
10-Q2026-08-03
View on EDGAR →
10-Q2026-05-04
View on EDGAR →
8-K2026-08-03
View on EDGAR →
8-K2026-05-22
View on EDGAR →
8-K2026-05-04
View on EDGAR →
8-K2026-04-08
View on EDGAR →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.