Vornado Realty Trust (VNO): Assessing Valuation After Ratings Upgrade and Prime Manhattan Acquisition

Simply Wall St.

Sep 18

$Vornado Realty Trust(VNO-N)$ (NYSE:VNO) just delivered a double headline that will have investors taking notice. Within days of closing on a $218 million acquisition of the mostly vacant 623 Fifth ...

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Within days of closing on a $218 million acquisition of the mostly vacant 623 Fifth ...</p>\n\n<a href=\"https://simplywall.st/stocks/us/real-estate/nyse-vno/vornado-realty-trust/news/vornado-realty-trust-vno-assessing-valuation-after-ratings-u\">Source Link</a>\n\n</div>\n","source":"simplywall_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vornado Realty Trust (VNO): Assessing Valuation After Ratings Upgrade and Prime Manhattan Acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVornado Realty Trust (VNO): Assessing Valuation After Ratings Upgrade and Prime Manhattan Acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-18 04:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/us/real-estate/nyse-vno/vornado-realty-trust/news/vornado-realty-trust-vno-assessing-valuation-after-ratings-u><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>$Vornado Realty Trust(VNO-N)$ (NYSE:VNO) just delivered a double headline that will have investors taking notice. Within days of closing on a $218 million acquisition of the mostly vacant 623 Fifth ...</p>\n\n<a href=\"https://simplywall.st/stocks/us/real-estate/nyse-vno/vornado-realty-trust/news/vornado-realty-trust-vno-assessing-valuation-after-ratings-u\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4194","symbol_name":"办公房地产投资信托","start_time":0,"source_url":"https://simplywall.st/stocks/us/real-estate/nyse-vno/vornado-realty-trust/news/vornado-realty-trust-vno-assessing-valuation-after-ratings-u","article_id":"2568633445","we_media_id":null,"thumbnails":["https://images.simplywall.st/asset/industry/9551734-choice1-main-header/1585186926549"],"rights":{"source":"simplywall_highlight","url":"https://simplywall.st/stocks/us/real-estate/nyse-vno/vornado-realty-trust/news/vornado-realty-trust-vno-assessing-valuation-after-ratings-u","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2568633445","pubTimestamp":1758141766,"columns":[],"sourceInfo":{"source_id":"simplywall_highlight","name":"Simply Wall St."},"weMediaInfo":null,"summary":"Vornado Realty Trust (NYSE:VNO) just delivered a double headline that will have investors taking notice. Within days of closing on a $218 million acquisition of the mostly vacant 623 Fifth Avenue office tower, Fitch Ratings shifted the company’s outlook from stable to positive. That kind of upgrade, paired with bold redevelopment plans for a prime Manhattan property, puts the spotlight on management’s ability to drive long-term value while navigating a still-evolving office real estate...","collect":0,"end_time":0,"defaultTopTitle":"simplywall.st","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4194":"办公房地产投资信托","VNO":"沃那多房信","BK4588":"碎股","BK4223":"办公室房地产信托","BK4585":"ETF&股票定投概念"},"translate_title":"Vornado Realty Trust(VNO)：评估评级升级和收购Prime Manhattan后的估值","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VNO":1},"content_text":"$Vornado Realty Trust(VNO-N)$ (NYSE:VNO) just delivered a double headline that will have investors taking notice. Within days of closing on a $218 million acquisition of the mostly vacant 623 Fifth Avenue office tower, Fitch Ratings shifted the company’s outlook from stable to positive. That kind of upgrade, paired with bold redevelopment plans for a prime Manhattan property, puts the spotlight on management’s ability to drive long-term value while navigating a still-evolving office real estate landscape.\n\nThese moves come as Vornado’s share price has outperformed most expectations over the past year, climbing 14% and showing fresh momentum over the past month. The completion of the Fifth Avenue deal marks a shift toward repositioning trophy New York assets, just as major rating agencies signal greater confidence in Vornado’s balance sheet and future prospects.\n\nSo, in light of these confidence-boosting headlines and a share price that has outpaced the broader market over the past year, is Vornado now undervalued or has the recent rally already priced in the company’s next chapter?\nAdvertisementMost Popular Narrative: 11.4% Overvalued According to the most widely followed valuation narrative, Vornado Realty Trust currently trades at a premium to its estimated fair value. This suggests that market optimism may have run ahead of the underlying fundamentals.  The market may be assuming sustained urban revitalization and population growth trends in core Vornado markets (especially Manhattan). These factors could underpin strong tenant demand and position the company's trophy assets to deliver durable pricing power and above-average cash flow growth, enhancing long-term earnings visibility.  Want to know what is fueling this expensive price tag? The central point of this narrative is bold projections for revenue and profit margins that few would expect from a traditional REIT. What critical growth levers are embedded in the valuation, and how do analysts justify such lofty expectations? Explore further to uncover the quantitative story behind this fair value estimate. Result: Fair Value of $37.86 (OVERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, strong tenant demand for prime Manhattan office space or better than expected leasing at redeveloped properties could quickly shift the outlook in Vornado’s favor. Find out about the key risks to this Vornado Realty Trust narrative. Another View: The SWS DCF Model Perspective While analyst price targets and market optimism highlight potential, our SWS DCF model comes to a different conclusion and suggests the stock's current valuation may not fully reflect its future cash flow potential. Which approach will ultimately prove right? Look into how the SWS DCF model arrives at its fair value. VNO Discounted Cash Flow as at Sep 2025 Stay updated when valuation signals shift by adding Vornado Realty Trust to your watchlist or portfolio. Alternatively, explore our screener to discover other companies that fit your criteria.\n Build Your Own Vornado Realty Trust Narrative If you want to dig deeper or draw your own conclusions, it only takes a few minutes to craft your perspective from the data, so Do it your way. A great starting point for your Vornado Realty Trust research is our analysis highlighting 3 key rewards and 5 important warning signs that could impact your investment decision. Looking for more investing moves you don’t want to miss? Smart investors keep an eye on fresh opportunities beyond well-known names. Use these powerful tools to uncover stocks that match your strategy and give your portfolio an edge.  Pinpoint opportunities to earn steady income streams while reviewing top picks with generous yields by checking out dividend stocks with yields > 3%. Seize the chance to spot tomorrow’s leaders in artificial intelligence by scanning the latest rising stars through AI penny stocks. Take advantage of undervalued gems the market is overlooking right now by browsing through undervalued stocks based on cash flows.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}