|Bid||0.00 x 800|
|Ask||0.00 x 1000|
|Day's range||43.68 - 45.82|
|52-week range||27.64 - 52.53|
|Beta (5Y monthly)||1.41|
|PE ratio (TTM)||N/A|
|Earnings date||03 May 2021|
|Forward dividend & yield||2.12 (4.71%)|
|Ex-dividend date||29 Jan 2021|
|1y target est||40.82|
Vornado (VNO) refinanced a previous $300-million LIBOR plus 1.75% loan with a $525-million LIBOR plus 1.107% one, receiving net proceeds of nearly $105 million.
Fed sounds CRE alarm, Texas biz climate takes a beating, a look ahead for Vornado, a loss for Marriott, and an extension for opportunity zone tax breaks. A new Federal Reserve report says that CRE prices "appear susceptible to sharp declines" from historically high levels, especially if distressed sales pick up or if the pandemic leads to longer-term declines in demand. This Bloomberg report evokes memories of the "irrational exuberance" then-Fed Chair Alan Greenspan warned of a quarter-century ago.
Vornado Realty Trust (NYSE: VNO) has undergone many changes over the years. The diversified real estate investment trust (REIT) has reduced its retail sector presence by selling its stakes in retail REITs PREIT (NYSE: PEI) and Urban Edge Properties (NYSE: UE). It also exited the Washington, D.C., market by spinning off and merging those properties with JBG SMITH Properties (NYSE: JBGS).