
VNO Stock Forecast & Price Target
VNO Analyst Ratings
Bulls say
Vornado Realty is projected to experience a strong double-digit positive overall GAAP rent spread in the coming years, supported by an anticipated increase in average market rents. The company's funds from operations (FFO) estimates for 2025 and 2026 have been raised to $2.39 and $2.44 per share, respectively, indicating upward momentum that exceeds consensus estimates. Furthermore, Vornado's portfolio occupancy is expected to improve significantly, reaching 85.2% by year-end 2025 and 87.0% by year-end 2026, up from 84.5% in the first quarter of 2025.
Bears say
The analysis indicates a negative outlook on Vornado Realty's stock due to projected flat comparable funds from operations (FFO) for 2025, with estimates exceeding both management's guidance and the consensus reported by FactSet. The company faces significant downside risks, including the potential for an economic recession that could adversely impact office employment and persistent remote work trends prompting tenants to reduce office space requirements. Additionally, despite trading at a 12% discount to net asset value (NAV), Vornado's valuation at 17.3 times projected 2025 FFO exceeds its historical average of 13.1 times, suggesting overvaluation in the current market context.
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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