Vornado Realty: I'm Buying The Dip In The Series O Preferreds As Manhattan Office Demand Soars
Portfolio Pulse from
Vornado Realty Trust's shares have surged over 60% following a strong fiscal 2024 Q4 earnings beat. Despite a slight FFO dip, the Series O preferreds offer a 7.5% yield on cost, trading at a discount due to high risk-free rates and office property risks. Manhattan's office leasing market is strong, with VNO's occupancy expected to exceed 90% by 2025.
February 14, 2025 | 6:30 pm
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Vornado Realty Trust's shares have increased by over 60% due to a strong fiscal 2024 Q4 earnings beat. The Series O preferreds are trading at a discount with a 7.5% yield, influenced by high risk-free rates and office property risks. Manhattan's office market is strong, with occupancy expected to exceed 90% by 2025.
Vornado Realty Trust's strong earnings and the robust Manhattan office market are positive indicators for the company's stock. The Series O preferreds offer a high yield, attracting investors despite perceived risks. The projected occupancy exceeding 90% by 2025 further supports a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100