VNO Stock Fair Value – Vornado Realty Trust Pays $6.4M to Execs for 350 Park Avenue Acquisition
December 21, 2023
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Vornado Realty Trust ($NYSE:VNO), one of the largest real estate investment trusts in the United States, recently paid $6.4 million to four executives for the purchase of 350 Park Avenue. Vornado owns and manages a portfolio of office, retail and other properties in Washington, D.C., New York City and other cities throughout the United States. In addition to its real estate portfolio, Vornado also invests in retail businesses and is one of the largest U.S. diversified REITs by market capitalization. Vornado is not the only one who has been investing in New York properties recently, as many other investors have been pouring money into the city as well. This acquisition is one of many that are being made to capitalize on the potential of the city’s real estate market.
The purchase of 350 Park Avenue is just one example of Vornado’s commitment to investing in the New York area. The company has been investing heavily in the city’s real estate for several years now and shows no signs of slowing down. With the recent acquisition, it appears that Vornado is continuing to make smart investments in New York’s real estate market.
Stock Price
On Wednesday, VORNADO REALTY TRUST purchased the 350 Park Avenue property in Manhattan for a reported $6.4 million. The purchase of 350 Park Avenue comes as part of a larger trend of VORNADO REALTY TRUST expanding its New York City real estate portfolio. Despite the successful acquisition, the stock experienced a slight decline on Wednesday, with its stock opening at $30.2 and closing at $29.8, down by 1.0% from the previous closing price of 30.1. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for VNO. More…
| Total Revenues | Net Income | Net Margin |
| 1.82k | -388.88 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for VNO. More…
| Operations | Investing | Financing |
| 675.99 | 8.67 | -399.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for VNO. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.45k | 9.91k | 24.32 |
Key Ratios Snapshot
Some of the financial key ratios for VNO are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 17.1% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis – VNO Stock Fair Value
At GoodWhale, we specialize in analysing the fundamentals of companies like VORNADO REALTY TRUST. Through our proprietary Valuation Line, we have calculated the intrinsic value of VORNADO REALTY TRUST’s shares to be around $6. This means that the current stock price of $29.8 is overvalued by 397.3%. Therefore, we recommend investors to be cautious when considering an investment in VORNADO REALTY TRUST. More…
Peers
Vornado owns and operates office, retail, and hotel properties in the United States. The company was founded in 1959 and became a public company in 1971. As of December 31, 2019, Vornado owned and operated 97 million square feet of real estate. The company’s portfolio is focused on high-density urban markets in New York City, Washington, DC, and San Francisco. Vornado’s primary competitors are KBS Real Estate Investment Trust III Inc, Boston Properties Inc, and Broadstone Net Lease Inc. These companies are all based in the United States and are focused on office, retail, and hotel properties.
– KBS Real Estate Investment Trust III Inc ($OTCPK:KBSR)
KBS Real Estate Investment Trust III Inc is a real estate investment trust that owns and operates a portfolio of properties in the United States. The company’s portfolio includes office, retail, industrial, and hotel properties. KBS Real Estate Investment Trust III Inc is headquartered in Newport Beach, California.
– Boston Properties Inc ($NYSE:BXP)
Boston Properties Inc is a real estate investment trust that owns, manages, and develops properties in the United States. As of December 31, 2020, it owned or had an interest in 171 properties, totaling approximately 51.4 million square feet. The company was founded in 1970 and is headquartered in Boston, Massachusetts.
– Broadstone Net Lease Inc ($NYSE:BNL)
The company’s market cap is 2.79B as of 2022. The company focuses on providing net lease financing solutions to tenants and landlords in the United States.
Summary
Vornado Realty Trust is a real estate investment trust that specializes in the ownership, management, and development of large commercial properties. Their most recent investment involved acquiring 350 Park Avenue, for which they paid four executive members a total of $6.4 million. Looking forward, analysts expect the company to continue to perform well and generate strong returns for investors.
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