
VNO Stock Forecast & Price Target
VNO Analyst Ratings
Bulls say
Vornado Realty's positive outlook is supported by projected increases in average market rent, which is anticipated to generate a strong double-digit positive overall GAAP rent spread over the next few years. The company's funds from operations (FFO) estimates have been raised for both 2025 and 2026, reflecting robust performance above market consensus, indicating improved profitability. Additionally, a forecasted increase in portfolio occupancy rates, expected to rise to 85.2% by year-end 2025 and 87.0% by year-end 2026, further enhances the company’s financial stability and growth potential.
Bears say
The negative outlook on Vornado Realty's stock is primarily driven by expectations of flat funds from operations (FFO) for 2025, aligning with management's projections, which indicate a disconnect from higher analyst estimates. Additionally, the potential for a recession and an ongoing trend of remote work could exacerbate declines in office demand, leading to further reductions in office space needs by tenants. Furthermore, Vornado's current trading metrics, including a 12% discount to net asset value (NAV) and a price-to-FFO ratio of 17.3x significantly above its historical average of 13.1x, suggest financial pressures that may not justify its current valuation.
This aggregate rating is based on analysts' research of Vornado Realty Trust and is not a guaranteed prediction by Public.com or investment advice.
VNO Analyst Forecast & Price Prediction
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