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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash to Debt 0.13
VNO's Cash to Debt is ranked higher than
81% of the 607 Companies
in the Global REIT - Diversified industry.

( Industry Median: 0.06 vs. VNO: 0.13 )
VNO' s 10-Year Cash to Debt Range
Min: 0.03   Max: 0.48
Current: 0.13

0.03
0.48
Equity to Asset 0.31
VNO's Equity to Asset is ranked higher than
53% of the 634 Companies
in the Global REIT - Diversified industry.

( Industry Median: 0.49 vs. VNO: 0.31 )
VNO' s 10-Year Equity to Asset Range
Min: 0.24   Max: 0.52
Current: 0.31

0.24
0.52
Interest Coverage 0.28
VNO's Interest Coverage is ranked lower than
55% of the 530 Companies
in the Global REIT - Diversified industry.

( Industry Median: 2.30 vs. VNO: 0.28 )
VNO' s 10-Year Interest Coverage Range
Min: 0.13   Max: 3.67
Current: 0.28

0.13
3.67
F-Score: 3
Z-Score: 0.89
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 9.38
VNO's Operating margin (%) is ranked higher than
50% of the 644 Companies
in the Global REIT - Diversified industry.

( Industry Median: 42.02 vs. VNO: 9.38 )
VNO' s 10-Year Operating margin (%) Range
Min: 4.04   Max: 52.57
Current: 9.38

4.04
52.57
Net-margin (%) 11.28
VNO's Net-margin (%) is ranked higher than
57% of the 645 Companies
in the Global REIT - Diversified industry.

( Industry Median: 33.47 vs. VNO: 11.28 )
VNO' s 10-Year Net-margin (%) Range
Min: 5.27   Max: 52.66
Current: 11.28

5.27
52.66
ROE (%) 3.63
VNO's ROE (%) is ranked higher than
60% of the 654 Companies
in the Global REIT - Diversified industry.

( Industry Median: 6.50 vs. VNO: 3.63 )
VNO' s 10-Year ROE (%) Range
Min: 1.7   Max: 35.3
Current: 3.63

1.7
35.3
ROA (%) 1.13
VNO's ROA (%) is ranked higher than
57% of the 655 Companies
in the Global REIT - Diversified industry.

( Industry Median: 2.89 vs. VNO: 1.13 )
VNO' s 10-Year ROA (%) Range
Min: 0.53   Max: 10.86
Current: 1.13

0.53
10.86
ROC (Joel Greenblatt) (%) 1.33
VNO's ROC (Joel Greenblatt) (%) is ranked higher than
51% of the 571 Companies
in the Global REIT - Diversified industry.

( Industry Median: 5.56 vs. VNO: 1.33 )
VNO' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 0.5   Max: 24.9
Current: 1.33

0.5
24.9
Revenue Growth (%) -6.80
VNO's Revenue Growth (%) is ranked higher than
55% of the 544 Companies
in the Global REIT - Diversified industry.

( Industry Median: -0.40 vs. VNO: -6.80 )
VNO' s 10-Year Revenue Growth (%) Range
Min: -7.5   Max: 47.4
Current: -6.8

-7.5
47.4
EBITDA Growth (%) -18.90
VNO's EBITDA Growth (%) is ranked higher than
51% of the 496 Companies
in the Global REIT - Diversified industry.

( Industry Median: 3.00 vs. VNO: -18.90 )
VNO' s 10-Year EBITDA Growth (%) Range
Min: -18.9   Max: 36.2
Current: -18.9

-18.9
36.2
» VNO's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2013

VNO Guru Trades in Q3 2013

Ron Baron 92,537 sh (+7.06%)
Murray Stahl 208,278 sh (+0.72%)
Third Avenue Management 660,669 sh (+0.04%)
Jeremy Grantham 48,028 sh (-0.62%)
Mason Hawkins 232,202 sh (-31.69%)
Pioneer Investments 53,400 sh (-37.04%)
Chris Davis 447,516 sh (-54.67%)
Manning & Napier Advisors, Inc 9,330 sh (-63.44%)
» More
Q4 2013

VNO Guru Trades in Q4 2013

George Soros 84,133 sh (New)
Steven Cohen 133,662 sh (New)
Michael Price 100,000 sh (New)
Ron Baron 109,904 sh (+18.77%)
Mason Hawkins 232,202 sh (unchged)
Third Avenue Management 659,703 sh (-0.15%)
Jeremy Grantham 47,881 sh (-0.31%)
Pioneer Investments 45,100 sh (-15.54%)
Manning & Napier Advisors, Inc 7,590 sh (-18.65%)
Murray Stahl 166,356 sh (-20.13%)
Chris Davis 244,365 sh (-45.4%)
» More
Q1 2014

VNO Guru Trades in Q1 2014

George Soros 338,068 sh (+301.83%)
Ron Baron 150,277 sh (+36.73%)
Michael Price 100,000 sh (unchged)
Manning & Napier Advisors, Inc Sold Out
Third Avenue Management 657,602 sh (-0.32%)
Mason Hawkins 230,700 sh (-0.65%)
Pioneer Investments 42,700 sh (-5.32%)
Murray Stahl 156,923 sh (-5.67%)
Jeremy Grantham 37,600 sh (-21.47%)
Chris Davis 181,487 sh (-25.73%)
Steven Cohen 7,871 sh (-94.11%)
» More
Q2 2014

VNO Guru Trades in Q2 2014

Chris Davis 181,981 sh (+0.27%)
Third Avenue Management 658,989 sh (+0.21%)
Steven Cohen 22,800 sh (unchged)
Ron Baron 150,277 sh (unchged)
George Soros Sold Out
Mason Hawkins Sold Out
Michael Price Sold Out
Pioneer Investments 42,100 sh (-1.41%)
Jeremy Grantham 35,200 sh (-6.38%)
Murray Stahl 134,409 sh (-14.35%)
» More
» Details

Insider Trades

Latest Guru Trades with VNO

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Michael Price 2014-06-30 Sold Out 1.2%$97.72 - $108.69 $ 103.570%0
George Soros 2014-06-30 Sold Out 0.33%$97.72 - $108.69 $ 103.570%0
Mason Hawkins 2014-06-30 Sold Out 0.12%$97.72 - $108.69 $ 103.570%0
George Soros 2014-03-31 Add 301.83%0.25%$88.64 - $99.29 $ 103.5710%338068
Ron Baron 2014-03-31 Add 36.73%0.02%$88.64 - $99.29 $ 103.5710%150277
Michael Price 2013-12-31 New Buy1.1%$83.15 - $91.11 $ 103.5717%100000
George Soros 2013-12-31 New Buy0.06%$83.15 - $91.11 $ 103.5717%84133
Mason Hawkins 2013-09-30 Reduce -31.69%0.04%$79.58 - $88.91 $ 103.5722%232202
Ron Baron 2013-03-31 Add 559.62%0.03%$80.08 - $85.75 $ 103.5724%78937
Mason Hawkins 2013-03-31 Reduce -21.24%0.03%$80.08 - $85.75 $ 103.5724%339902
Mason Hawkins 2012-12-31 New Buy0.15%$73.23 - $82.33 $ 103.5733%431551
Ron Baron 2012-12-31 Reduce -39.2%$73.23 - $82.33 $ 103.5733%11967
Ron Baron 2012-09-30 Add 37.58%$79.93 - $86.4 $ 103.5725%19682
Ron Baron 2012-06-30 Reduce -45.11%0.01%$79.39 - $87.65 $ 103.5725%14306
Ray Dalio 2012-03-31 Sold Out 0.03%$75.77 - $86.01 $ 103.5734%0
Ron Baron 2012-03-31 Reduce -24.1%$75.77 - $86.01 $ 103.5734%26062
Ray Dalio 2011-12-31 New Buy0.03%$69.97 - $83.77 $ 103.5736%20763
Ron Baron 2011-09-30 Add 364.82%0.01%$72.87 - $98.6 $ 103.5720%35415
Ron Baron 2011-06-30 Reduce -35.19%$87.54 - $98.38 $ 103.5711%7619
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Preferred stocks of Vornado Realty Trust

SymbolPriceYieldDescription
VNORP149.342.20Series A Convertible Preferred Shares of Beneficial Interest
VNOPRI0.006.616.625% Series I Cumulative Redeemable Preferred Shares
VNOPRL0.005.88
VNOPRJ0.006.646 7/8 % Cum Red Pfd Shs of Benef Interest Series -J-
VNOPRK0.005.99
VNOPRG0.006.616.625% Series G Cumulative Redeemable Preferred Shares

Top Ranked Articles about Vornado Realty Trust

Weekly 52-Week Highs Highlight: DPS, VNO, EIX, ADM, TOT
According to GuruFocus list of 52-week highs; Dr. Pepper Snapple Group Inc., Vornado Realty Trust, Edison International, Archer-Daniels Midland Company and Total SA have all reached their 52-week highs. Read more...
Kinder Morgan Leads Dividend Growers of the Week
During the past week, GuruFocus recognized five companies as dividend growers. In order to be qualified for this list, the company had to: Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 126.40
VNO's P/E(ttm) is ranked higher than
57% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 26.30 vs. VNO: 126.40 )
VNO' s 10-Year P/E(ttm) Range
Min: 11.52   Max: 200.11
Current: 126.4

11.52
200.11
P/B 3.70
VNO's P/B is ranked higher than
50% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.28 vs. VNO: 3.70 )
VNO' s 10-Year P/B Range
Min: 0.86   Max: 3.95
Current: 3.7

0.86
3.95
P/S 9.10
VNO's P/S is ranked higher than
61% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 7.78 vs. VNO: 9.10 )
VNO' s 10-Year P/S Range
Min: 2.3   Max: 10.16
Current: 9.1

2.3
10.16
PFCF 42.60
VNO's PFCF is ranked higher than
73% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 65.32 vs. VNO: 42.60 )
VNO' s 10-Year PFCF Range
Min: 9.95   Max: 90.62
Current: 42.6

9.95
90.62
EV-to-EBIT 158.52
VNO's EV-to-EBIT is ranked higher than
53% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 32.35 vs. VNO: 158.52 )
VNO' s 10-Year EV-to-EBIT Range
Min: 18.9   Max: 2104.2
Current: 158.52

18.9
2104.2
Shiller P/E 51.60
VNO's Shiller P/E is ranked higher than
82% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 9999.00 vs. VNO: 51.60 )
VNO' s 10-Year Shiller P/E Range
Min: 7.83   Max: 54.24
Current: 51.6

7.83
54.24

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.90
VNO's Dividend Yield is ranked lower than
78% of the 635 Companies
in the Global REIT - Diversified industry.

( Industry Median: 4.28 vs. VNO: 2.90 )
VNO' s 10-Year Dividend Yield Range
Min: 2.13   Max: 12.68
Current: 2.9

2.13
12.68
Dividend Payout 904.87
VNO's Dividend Payout is ranked lower than
54% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.31 vs. VNO: 904.87 )
VNO' s 10-Year Dividend Payout Range
Min: 0.2   Max: 6.35
Current: 904.87

0.2
6.35
Dividend growth (3y) 3.90
VNO's Dividend growth (3y) is ranked higher than
69% of the 409 Companies
in the Global REIT - Diversified industry.

( Industry Median: 6.20 vs. VNO: 3.90 )
VNO' s 10-Year Dividend growth (3y) Range
Min: -13.3   Max: 13.9
Current: 3.9

-13.3
13.9
Yield on cost (5-Year) 4.06
VNO's Yield on cost (5-Year) is ranked lower than
57% of the 636 Companies
in the Global REIT - Diversified industry.

( Industry Median: 4.57 vs. VNO: 4.06 )
VNO' s 10-Year Yield on cost (5-Year) Range
Min: 3.09   Max: 18.37
Current: 4.06

3.09
18.37
Share Buyback Rate -0.60
VNO's Share Buyback Rate is ranked higher than
90% of the 518 Companies
in the Global REIT - Diversified industry.

( Industry Median: -7.00 vs. VNO: -0.60 )
VNO' s 10-Year Share Buyback Rate Range
Min: 2.5   Max: -51.9
Current: -0.6

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 3.97
VNO's Price/Tangible Book is ranked higher than
53% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.32 vs. VNO: 3.97 )
VNO' s 10-Year Price/Tangible Book Range
Min: 1.07   Max: 8.9
Current: 3.97

1.07
8.9
Price/DCF (Projected) 2.28
VNO's Price/DCF (Projected) is ranked higher than
80% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 11.15 vs. VNO: 2.28 )
VNO' s 10-Year Price/DCF (Projected) Range
Min: 0.82   Max: 4.56
Current: 2.28

0.82
4.56
Price/Median PS Value 1.52
VNO's Price/Median PS Value is ranked higher than
56% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.21 vs. VNO: 1.52 )
VNO' s 10-Year Price/Median PS Value Range
Min: 0.42   Max: 2.32
Current: 1.52

0.42
2.32
Price/Graham Number 2.89
VNO's Price/Graham Number is ranked higher than
59% of the 694 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.35 vs. VNO: 2.89 )
VNO' s 10-Year Price/Graham Number Range
Min: 0.88   Max: 4.34
Current: 2.89

0.88
4.34
Earnings Yield (Greenblatt) 0.60
VNO's Earnings Yield (Greenblatt) is ranked lower than
55% of the 628 Companies
in the Global REIT - Diversified industry.

( Industry Median: 3.70 vs. VNO: 0.60 )
VNO' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 5.3
Current: 0.6

0.1
5.3
Forward Rate of Return (Yacktman) -7.24
VNO's Forward Rate of Return (Yacktman) is ranked higher than
61% of the 527 Companies
in the Global REIT - Diversified industry.

( Industry Median: 1.93 vs. VNO: -7.24 )
VNO' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -7.5   Max: 27.8
Current: -7.24

-7.5
27.8

Business Description

Industry: REITs » REIT - Diversified
Compare:ARI, NLY, IVR, WSR, HRUFF » details
Traded in other countries:VO7.Germany, VNORP.USA
Vornado Realty Trust is a real estate investment trust and conducts its business through Vornado Realty L.P., a Delaware limited partnership. The Company operates in the five business segments: New York Office Properties, Washington, DC Office Properties, Retail Properties, Merchandise Mart Properties and Toys 'R' US. New York Office properties portfolio consisted of 30 office properties in Midtown Manhattan aggregating 20.8 million square feet. In addition, it owns 1.0 million square feet of retail space in New York City. The New York Office Properties segment also includes 7 garages totaling 385,000 square feet which are managed by, or leased to, third parties. New York Office Properties lease terms generally range from five to seven years for smaller tenants to as long as 15 years for major tenants, and may provide for extension options at market rates. Washington, DC Office Properties segment portfolio consisted of 77 properties aggregating 20.5 million square feet. In addition, the Washington, DC Office Properties segment includes 59 garages totaling approximately 9.6 million square feet which are managed by or leased to third parties. Washington, DC Office Properties lease terms generally range from five to seven years, and may provide for extension options at either pre-negotiated or market rates. Leases typically provide for periodic step-ups in rent over the term of the lease and pass through to tenants, the tenants' share of increases in real estate taxes and certain property operating expenses over a base year. Periodic step-ups in rent are usually based upon either fixed percentage increases or the consumer price index. Leases also typically provide for free rent and tenant improvement allowances for all or a portion of the tenant's initial construction costs of its premises. Retail Properties segment portfolio consisted of 155 retail properties, of which 127 are strip shopping centers and single tenant retail assets located primarily in the Northeast, Mid-Atlantic and California; seven are regional malls located in New York, New Jersey, Virginia and San Juan, Puerto Rico; and 21 are retail properties located in Manhattan. Merchandise Mart Properties segment owns 5 Merchandise Mart Properties containing an aggregate of 5.7 million square feet. The Merchandise Mart Properties segment also contains 7 garages totaling 914,000 square feet. Office lease terms generally range from three to seven years for smaller tenants to as long as 15 years for major tenants. TOYS 'R' US, INC. segment owns a 32.7% interest in Toys, a worldwide specialty retailer of toys and baby products, which has a significant real estate component. The Company competes with a large number of real estate property owners and developers. The Company's operations and properties are subject to various federal, state and local laws and regulations concerning the protection of the environment, including air and water quality, hazardous or toxic substances an
» More Articles for VNO

Headlines

Articles On GuruFocus.com
Weekly 52-Week Highs Highlight: DPS, VNO, EIX, ADM, TOT Apr 08 2014 
Kinder Morgan Leads Dividend Growers of the Week Jan 21 2014 
Thomson Reuters and Chevron Highlight GuruFocus' Top Dividend Growers of the Week Nov 04 2013 
Top Five Guru-Held REITs as of Q2 Sep 16 2013 
GuruFocus Names 5 Dividend Growers Aug 05 2013 
Weekly Top Insider Buys Jun 17 2013 
ServiceSource, Vornado and Signature Group Report Large CEO and CFO Buys Jun 12 2013 
CFO of Vornado Realty Trust Stephen W. Theriot Bought 3,100 Shares Jun 11 2013 
Baron Fund's Top 5 Increases of the First Quarter May 16 2013 
Southeastern Asset Reduces Eight, Major Slash on Building Materials May 15 2013 

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Change in the economy’s speed limit will affect commercial REITs Aug 26 2014
Why credit conditions eased, but mortgage credit remains tight Aug 26 2014
Vornado JV Sold Georgetown Park for $272.5M, Shares Fall Aug 25 2014
Must-know: July 2014 FOMC minutes Aug 25 2014
Vornado Joint Venture Sells Georgetown Park for $272.5 Million Aug 21 2014
Nordstrom Rack to Open in Springfield, Va. Aug 20 2014
[video] MNI Reality Check: Tight Supply Lifts NYC Housing Prices Aug 18 2014
Why job openings reached their highest since early 2001—up 17% Aug 14 2014
Must-read: Why small business optimism is slowly recovering Aug 14 2014
Must-know: Why all commercial real estate is local Aug 14 2014
Vornado maintains its dividend and plans to spin off its retail portfolio Aug 14 2014
Vornado reports a 13% increase in adjusted funds from operations Aug 13 2014
Vornado Completes Funding for Office Asset in Washington, DC Aug 13 2014
Must-know: An overview of Vornado Realty Trust Aug 13 2014
Vornado Completes $185 Million Financing of Unencumbered Universal Buildings Aug 12 2014
Former wine collector gets 10 years in prison for counterfeiting Aug 07 2014

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