Vornado Realty Trust (VNO)
NYSEReal EstateReit - OfficeSnapshot 2026-09-04
$36.59+0.14%
Close 2026-09-04 · 1-day change
NYSEReal EstateReit - OfficeSnapshot 2026-09-04
QuarterlyIQ Insights · VNO
Price, fair value, and the multiples that frame it on the same time axis. Scroll over the price chart to zoom.
Daily closes. Earnings/event dots inline.
A consensus fair price across 6 valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $37 VNO trades at 11× p/ffo, below its 13× p/ffo peer median, but our blended $34 fair value sits below the price. It's a high-confidence read. Analysts target $29–$44. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
Score 100 = cheapest in the cohort, 0 = richest. Bars are filled left-to-right based on the peer-relative score (or PEG/self-history where shown).
Each method's implied share price per horizon. Provisional rows use a projected (historical-CAGR) growth input rather than analyst or management guidance.
| Method | Horizon | Est. price | Multiple | Per-share input | EPS source | Confidence |
|---|---|---|---|---|---|---|
| analyst target | 12M | $39.00 | — | — | Analyst | high |
| graham number | 12M | $20.86 | — | — | TTM | high |
| Peer P/FFO | 12M | $43.53 | 13.2 | 3.30 | TTM | high |
| Peer P/S | 12M | $36.06 | 3.8 | 9.42 | TTM | high |
| residual income |
A “consensus-then vs. actual-now” overlay is on the way — what our valuation estimate said on a past date versus where the price actually landed.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
A long-thesis check that carries the widest uncertainty of the three horizons.
Below average on quality vs scored peers
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
$29.00 – $44.00 (median $39.00) · 12 analysts · as of 2026-09-02
No fragility gates fired.
For similar setups historically (n=20,154): about 33% saw a 20%+ drawdown, and roughly 76% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Looks more expensive than peers.
Self-history needs ~20 months of data.
Trailing four: 2025-Q2, 2025-Q3, 2026-Q1, 2026-Q2
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
| 12M |
| $22.57 |
| — |
| — |
| TTM |
| high |
| triangulated | 12M | $9.31 | 13.2 | 0.71 | Triangulated | high |
| Peer P/FFO | 3Y | $66.20 | 13.2 | 5.02 | Hist. CAGR(prov.) | medium |
| Peer P/S | 3Y | $48.08 | 3.8 | 12.55 | Analyst | medium |
| Peer P/FFO | 5Y | $87.55 | 13.2 | 6.63 | Hist. CAGR(prov.) | medium |
| Peer P/S | 5Y | $57.97 | 3.8 | 15.14 | Analyst | medium |