In a report released today, John Kim from BMO Capital maintained a Buy rating on Vornado Realty, with a price target of $46.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
John Kim’s rating is based on Vornado Realty’s strong performance in the second quarter of 2025, which included a beat on Core Funds From Operations (FFOps) and improvements in leasing activity, occupancy, and leverage. The company’s positive results were significantly influenced by a major lease agreement with NYU at 770 Broadway, which contributed to a noticeable increase in leasing activity and occupancy rates.
Despite some challenges, such as a decrease in cash same-store net operating income (SSNOI), Vornado Realty showed resilience with an accelerated leasing activity and improved cash leasing spreads. The company’s financial leverage also improved, with a reduction in the Net Debt to EBITDAre ratio, indicating better financial health. These factors collectively support John Kim’s Buy rating for Vornado Realty.