Wall Street analyst estimates for Vornado Realty Trust (VNO): consensus price target and buy/hold/sell recommendations.
Vornado's property holdings are predominantly focused on the crucial New York City market, complemented by a top-tier asset in both Chicago and San Francisco. The company is also at the forefront of the real estate sector regarding its sustainability initiatives.
Consensus price target
$37.67 (+9 % vs price $34.55)
between $32.00 and $43.00 · 8 targets published in the last quarter
Closing price, Oct 30
A twelve-month target is not a fair value: compare it with the range in the Valuation tab.
Analyst Consensus
| Strong Buy | 0 |
| Buy | 9 |
| Hold | 16 |
| Sell | 4 |
| Strong Sell | 0 |
| Total analysts | 29 |
| Avg rating (−2 sell to +2 buy) | 0.17 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2026-11-02 | $-0.20 | ||
| 2026-08-03 | $0.08 | $-0.04 | +322.5% |
| 2026-05-04 | $-0.12 | $-0.05 | -119.1% |
| 2026-02-09 | $0.55 | $0.03 | +1735.2% |
| 2025-11-03 | $0.06 | $0.02 | +228.6% |
| 2025-08-04 | $3.70 | $0.53 | +598.1% |
| 2025-05-05 | $0.45 | $0.09 | +394.1% |
| 2025-02-10 | $0.01 | $-0.05 | +120.0% |
Valuation Ratios
| P/E Ratio | 1,043.81 |
| Price / Book | 1.12 |
| EV / EBITDA | 15.90 |
| Dividend Yield | 2.14% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.51B | $2.08B | $2.16B | $1.92B | $1.53B | $1.59B | $1.80B | $1.81B | $1.79B | $1.81B |
| Cost of Revenue | $1.02B | $886.6M | $963.5M | $918.0M | $789.1M | $797.3M | $873.9M | $905.2M | 0 | 0 |
| Gross Profit | $1.48B | $1.20B | $1.20B | $1.01B | $738.9M | $791.9M | $926.1M | $906.0M | $1.79B | $1.81B |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $179.3M | $159.0M | $141.9M | $169.9M | $181.5M | $134.5M | $133.7M | $162.9M | $148.5M | $156.1M |
| Operating Expenses | $744.3M | $588.4M | $588.4M | $589.0M | $594.6M | $546.9M | $638.2M | $605.4M | $1.52B | $1.54B |
| Operating Income | $550.8M | $607.4M | $583.0M | $417.7M | $144.3M | $245.0M | $287.9M | $300.6M | $263.9M | $272.1M |
| EBITDA | $1.48B | $1.16B | $1.25B | $4.14B | $203.5M | $840.5M | $423.3M | $845.6M | $880.6M | $1.77B |
| Interest Expense | $330.2M | $345.7M | $347.9M | $286.6M | $229.3M | $231.1M | $279.8M | $349.2M | $390.3M | $353.9M |
| Pre-tax Income | $983.1M | $318.4M | $459.6M | $3.44B | -$425.2M | $197.1M | -$361.0M | $62.1M | $42.8M | $950.7M |
| Income Tax | $8.3M | $41.1M | $37.6M | $103.4M | $36.6M | -$10.5M | $21.7M | $29.2M | $22.7M | $13.5M |
| Net Income | $960.6M | $227.4M | $450.0M | $3.15B | -$297.0M | $176.0M | -$346.5M | $105.5M | $70.4M | $905.0M |
| EPS | $5.08 | $0.85 | $2.36 | $16.23 | $-1.83 | $0.53 | $-2.13 | $0.23 | $0.04 | $4.40 |
| EPS (Diluted) | $5.08 | $0.85 | $2.35 | $16.21 | $-1.83 | $0.53 | $-2.13 | $0.23 | $0.04 | $4.20 |
| Shares Outstanding (Diluted) | 189.1 M | 191.3 M | 191.5 M | 191.1 M | 191.1 M | 192.1 M | 191.8 M | 191.9 M | 196.6 M | 191.8 M |
Price
| Price | $34.55 (closing price, October 30, 2026) |
| Market Cap | $6.5B |
| Exchange | NYSE |
| Country | US |
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Explore sector: Real Estate · REIT - Office
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