Vornado Realty Trust (VNO-PN)
ValueMarkers Composite Index
84% below intrinsic value ($106)
Vornado Realty Trust (VNO-PN) — VMCI valuation read
Vornado Realty Trust (VNO-PN) carries a VMCI composite of 61/100, 11 points above the Real Estate sector median of 50. Among mid-cap names, that gap places VNO-PN in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).
The VNO-PN insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.
**Investor frame.** Value reads VNO-PN trades at 24.0x earnings, 33% above the Real Estate median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Real Estate 12.0x. Quality: ROIC of 10.0% sits 0.0pp above the Real Estate median (10.0%). Risk: net debt to EBITDA of 2.5x is the rate-sensitivity line to watch, the line to track on Vornado Realty Trust's next 10-Q.
VNO-PN rose 2.9% over the trailing 7 days, with a -22.7% read on a 30-day basis.
Vornado's portfolio is concentrated in the nation's key market — New York City — along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019. In 2012, Vornado commemorated 50 years on the NYSE.
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