Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
Not used by alerts or posts.
Treated as a REIT (property company). None of the usual models had enough data, so this uses Analyst consensus instead.
ACCE opinionVornado Realty Trust Common Stock (VNO)
Fair value (2 models)
Not available
ACCE price target
$32.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 10 Oct 2026, 00:00 CEST.
Price used: $34.80 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
45
out of 100
Analysts
31% buy
13 covering
P/E
858.5x
forward 57.1x
1-year return
-11.5%
Dividend yield
2.25%
Vornado Realty Trust Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Vornado owns and operates Manhattan office towers and a large retail-on-street portfolio concentrated in New York, including Midtown and Penn District assets, and it is one of the few REITs with a scaled, high-quality trophy office footprint in the city. Its edge is location and asset quality in a supply-constrained submarket, though that moat has been tested by the post-2020 shift to hybrid work and tenants consolidating into newer buildings. Reported revenue growth of 5.0% and a 9.8% operating margin are modest, and near-zero ROE (0.6%) with a trailing P/E above 800 reflects depressed GAAP earnings rather than a cheap stock, so any case rests on occupancy recovery and asset sales or redevelopment cash flows rather than current profitability. The forward P/E of 147 implies a sharp earnings rebound that the company has yet to show, which makes this a name worth a deeper look only if the work confirms that leasing momentum and funds-from-operations are inflecting. With a 48/100 score and no index membership, the screen is not flagging it as a high-conviction idea, so the burden of proof sits with the diligence.