VNO Vornado Realty Trust Common Stock
$38.63
Price · Aug 19, 2026
Fundamentals as of Aug 3, 2026
52W Range
$25–$43
75% of range
Analyst Rating
HOLD
21 analysts
Price Target
$40
+5% upside
P/E (TTM)
9.1
ROE
16.2%
Net Profit Margin
50.0%
About Vornado Realty Trust Common Stock Company overview from Wikipedia
Vornado Realty Trust is an American real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.
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Vornado Realty Trust is an American real estate investment trust formed in Maryland in 1982, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.
History
The origins of the company can be traced back to the Two Guys discount store chain, founded in 1947 by brothers Sidney and Herbert Hubschman. In 1959, Two Guys acquired O. A. Sutton Corporation, manufacturers of the Vornado line of electric fans, and the company was renamed Vornado Inc.
By 1964, the company operated over 200 stores. In the 1970s, Vornado began divesting its retail operations. In 1978, the company sold 80 Two Guys locations in California.
In 1980, Interstate Properties, a real estate development company controlled by Steven Roth, acquired an 18% stake in Vornado due to its real estate holdings. In 1981, Interstate Properties took control of the firm after winning a proxy fight against existing management and reduced the number of stores in operation to 12.
In 1986, Interstate Properties and Donald Trump each bought approximately 20% of Alexander's, a failing retailer whose real estate holdings included a store that occupied the entire block between East 58th and 59th streets and Lexington and Third Avenues in Manhattan. In 1988, they each raised their stakes to 27% of the company, but Trump pledged his interest as collateral for a personal loan from Citicorp and in 1991, Trump was forced to turn over his holdings to Citibank. In 1992, Roth and Alexander's creditors forced Alexander's into bankruptcy and all 11 of its stores were shut. Alexander's emerged from bankruptcy in 1993 as a real estate investment trust. That same year, Vornado Inc. was converted into a REIT, Vornado Realty Trust. In 1995, Vornado bought Citicorp's interest in Alexander's.
In 1989, the Vornado name was licensed to Vornado Air, a new company formed to manufacture heating and cooling equipment.
In April 1997, the company acquired a portfolio of office buildings in Manhattan from Bernard H. Mendik in a $654 million stock transaction. Mendik became co-chairman of Vornado until his resignation in October 1998.
In February 2001, Vornado Realty Trust won the bid for a 99-year lease for the World Trade Center, offering $3.25 billion. Silverstein Properties was outbid by $30 million by Vornado. However, Vornado balked over lease terms and possible tax liabilities. Silverstein signed a lease for the World Trade Center in April 2001, five months before the September 11 attacks.
In October 2001, the company acquired Charles E. Smith Commercial Realty, owner of assets primarily in Arlington, Virginia, in a $1.58 billion transaction. Robert H. Smith and Robert P. Kogod were added to the board of directors of Vornado.
In 2005, the company bought a 32.5% interest in Toys "R" Us. Toys "R" Us filed bankruptcy in 2018 and the investment was written off.
In 2013, Steven Roth replaced Michael D. Fascitelli as CEO of Vornado. Fascitelli had been CEO since 2009.
In 2015, the company completed the corporate spin-off of its interest in Urban Edge Properties, owner of retail holdings outside Manhattan.
In 2017, the company merged its Charles E. Smith Companies subsidiary into the JBG Companies, forming JBG Smith.
Investments
Notable properties owned by the company include:
New York Marriott Marquis (Retail & signage)
1540 Broadway (Retail & signage)
Manufacturers Trust Company Building (510 Fifth Avenue) (Retail)
660 Fifth Avenue (Retail)
770 Broadway
888 Seventh Avenue
Crowne Plaza Times Square Manhattan (Retail & office)
Fuller Building
Penn 1
The future site of 15 Penn Plaza
Rego Center
350 Park Avenue
The company also owns:
70% of 555 California Street in San Francisco, California (30% is owned by affiliates of Donald Trump)
70% of 1290 Avenue of the Americas in New York City (30% is owned by Donald Trump)
Merchandise Mart in Chicago, Illinois
32.4% of Alexander's, which owns 731 Lexington Avenue
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
VNO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$38.63
Market Cap
$7.27B
P/E (TTM)
9.1
EPS (TTM)
$4.20
Revenue (TTM)
$1.81B
Div Yield
1.9%
ROE
16.2%
Debt/Equity
—
52W Range
$25 – $43
VNO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.81B
2016-12-31
→
2025-12-31
EPS
$4.20
2016-12-31
→
2025-12-31
Free Cash Flow
—
Margins
50.0%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VNO
Peer Median
P/E (TTM)
9.1
38.1
P/S (TTM)
4.0
3.6
P/B
1.2
1.0
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VNO
Peer Median
Net Profit Margin
50.0%
4.2%
ROA
5.7%
0.63%
ROE
16.2%
2.2%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VNO
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VNO
Peer Median
Revenue YoY
1.3%
—
Revenue CAGR 3Y
0.19%
—
Revenue CAGR 5Y
3.5%
—
EPS YoY
10400.0%
—
Net Income YoY
1185.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VNO
Peer Median
Payout Ratio
15.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
1.9%
Payout Ratio
15.6%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Dec. 18, 2025 | $0.7400 |
| Dec. 16, 2024 | $0.7400 |
| Dec. 14, 2023 | $0.3000 |
| Jan. 27, 2023 | $0.3750 |
| Nov. 4, 2022 | $0.5300 |
| Aug. 5, 2022 | $0.5300 |
| May 6, 2022 | $0.5300 |
| Jan. 28, 2022 | $0.5300 |
| Nov. 5, 2021 | $0.5300 |
| Aug. 6, 2021 | $0.5300 |
| May 7, 2021 | $0.5300 |
| Jan. 29, 2021 | $0.5300 |
| Nov. 6, 2020 | $0.5300 |
| Aug. 7, 2020 | $0.5300 |
| May 8, 2020 | $0.6600 |
| Jan. 24, 2020 | $0.6600 |
| Dec. 27, 2019 | $1.9500 |
| Nov. 1, 2019 | $0.6600 |
| Aug. 2, 2019 | $0.6600 |
| May 3, 2019 | $0.6600 |
VNO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
21 analysts
- Strong Buy 1 4.8%
- Buy 3 14.3%
- Hold 8 38.1%
- Sell 8 38.1%
- Strong Sell 1 4.8%
12-Month Price Target
13 analysts · 2026-08-20
Median
$40.00
Now
$38.63
Low
$31.00
High
$50.00
Median target
$40.00
+3.5%
Mean target
$40.38
+4.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.65%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.08 | $-0.08 | -0.00% |
| March 31, 2026 | $-0.12 | $-0.09 | -0.03% |
| Dec. 31, 2025 | $0.00 | $0.01 | -0.01% |
| Sept. 30, 2025 | $0.06 | $-0.04 | 0.10% |
| June 30, 2025 | $3.70 | $0.09 | 3.6% |
| March 31, 2025 | $0.43 | $0.19 | 0.24% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VNO | $6.35B | 7.9 | 1.3% | 50.0% | 16.2% | — |
| BXP | $10.70B | 38.8 | 2.2% | 8.0% | 5.2% | 59.1% |
| CDP | $3.15B | 20.7 | 1.4% | 20.9% | 10.6% | — |
| CUZ | $4.33B | 107.4 | 16.0% | 4.1% | 0.85% | — |
| SLG | $3.26B | -28.5 | 13.2% | -9.7% | -2.5% | — |
| KRC | $4.42B | 16.1 | -2.0% | 27.2% | 5.6% | — |
| HIW | $2.84B | 17.8 | -2.4% | 20.2% | 6.9% | — |
| DEI | $1.84B | 122.1 | 1.8% | 1.6% | 0.82% | 63.3% |
| PDM | $1.04B | -12.4 | -0.93% | -14.8% | -5.4% | — |
| DEA | $981M | 78.5 | 11.3% | 3.9% | 0.98% | — |
| ESRT | — | 26.1 | 0.05% | 9.5% | 7.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.81B | $1.79B | $1.81B | $1.80B | $1.59B | $1.53B | $1.92B | $2.16B | $2.08B | $2.00B | |
| SG&A Expense | $156M | $149M | $163M | $134M | $135M | $182M | $170M | $142M | $151M | $144M | |
| Operating Expenses | $1.55B | $1.54B | $1.57B | $1.53B | $1.37B | $1.55B | $1.63B | $1.58B | $1.48B | $1.42B | |
| Operating Income | · | · | · | · | · | · | · | $583M | $609M | $580M | |
| Interest Income | $10M | $3M | $1M | $5M | $3M | $3M | $6M | $10M | $4M | $4M | |
| Other Non-op | · | $0 | $0 | $235.0K | $2M | $4M | $4M | $4M | $5M | $4M | |
| Pretax Income | $951M | $43M | $62M | $-361M | $197M | $-425M | $3.44B | $460M | $320M | $585M | |
| Income Tax | $14M | $23M | $29M | $22M | $-10M | $37M | $103M | $38M | $42M | $8M | |
| Net Income | $905M | $70M | $105M | $-346M | $176M | $-297M | $3.15B | $450M | $227M | $907M | |
| EPS (Basic) | $4.40 | $0.04 | $0.23 | $-2.13 | $0.53 | $-1.83 | $16.23 | $2.02 | $0.85 | $4.36 | |
| EPS (Diluted) | $4.20 | $0.04 | $0.23 | $-2.13 | $0.53 | $-1.83 | $16.21 | $2.01 | $0.85 | $4.34 | |
| Shares (Basic) | 191,759,000 | 190,539,000 | 191,005,000 | 191,775,000 | 191,551,000 | 191,146,000 | 190,801,000 | 190,219,000 | 189,526,000 | 188,837,000 | |
| Shares (Diluted) | 201,049,000 | 196,626,000 | 191,856,000 | 191,775,000 | 192,122,000 | 191,146,000 | 191,053,000 | 191,290,000 | 191,258,000 | 190,173,000 | |
| EBITDA | $481M | $469M | $458M | $526M | $433M | $418M | $439M | $1.06B | $1.14B | · |
Balance Sheet 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $841M | $734M | $997M | $890M | $1.76B | $1.62B | $1.52B | $571M | $1.82B | $1.50B | |
| Short-term Investments | · | · | $0 | $472M | $0 | · | · | · | · | · | |
| Intangibles | $111M | $118M | $127M | $140M | $155M | $24M | $31M | $137M | $159M | $190M | |
| Total Assets | $15.52B | $16.00B | $16.19B | $16.49B | $17.27B | $16.22B | $18.29B | $17.18B | $17.40B | $20.81B | |
| Total Liabilities | $8.72B | $9.83B | $9.84B | $9.98B | $10.06B | $8.67B | $10.09B | $11.29B | $11.41B | $11.92B | |
| Long-term Debt | $2.26B | $2.57B | $2.56B | $2.56B | $2.56B | $1.82B | $1.77B | $1.67B | $1.59B | $1.33B | |
| Common Stock | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | |
| Paid-in Capital | $8.29B | $8.05B | $8.26B | $8.37B | $8.14B | $8.19B | $7.83B | $7.73B | $7.49B | $7.15B | |
| Retained Earnings | $-3.49B | $-4.14B | $-4.01B | $-3.89B | $-3.08B | $-2.77B | $-1.95B | $-4.17B | $-4.18B | $-1.42B | |
| AOCI | $-5.0K | $58M | $65M | $175M | $-18M | $-75M | $-40M | $8M | $129M | $119M | |
| Stockholders' Equity | $5.99B | $5.16B | $5.51B | $5.84B | $6.24B | $6.53B | $6.73B | $4.47B | $4.34B | $6.90B | |
| Liabilities + Equity | $15.52B | $16.00B | $16.19B | $16.49B | $17.27B | $16.22B | $18.29B | $17.18B | $17.40B | $20.81B | |
| Shares Outstanding | 190,666,367 | 190,847,000 | 190,391,000 | 191,867,000 | 191,724,000 | 191,355,000 | 190,986,000 | 190,535,499 | 189,983,858 | 189,100,876 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $481M | $469M | $458M | $526M | $433M | $418M | $439M | $473M | $530M | $595M | |
| Stock-based Comp | $25M | $30M | $43M | $29M | $38M | $49M | $54M | $32M | $33M | · | |
| Other Non-cash | $-154M | $-32M | $42M | $590M | $115M | $255M | $-2.98B | $-120M | $103M | · | |
| Operating Cash Flow | $1.26B | $538M | $648M | $799M | $762M | $424M | $663M | $803M | $860M | $995M | |
| Investing Cash Flow | $116M | $-597M | $-129M | $-907M | $-532M | $-88M | $2.46B | $-878M | $-206M | $-893M | |
| Debt Issued | $836M | $75M | $0 | $1.03B | $3.25B | $1.06B | $1.11B | $527M | $1.06B | $2.40B | |
| Net Debt Issued | $-1.07B | $-22M | $-148M | $-222M | $1.66B | $-11M | $-1.61B | $-158M | $424M | · | |
| Stock Repurchased | $51M | $0 | $29M | $0 | $0 | · | · | · | · | · | |
| Net Stock Activity | $-51M | $0 | $-29M | · | · | · | · | · | · | · | |
| Dividends Paid | $141M | $141M | $129M | $407M | $406M | $827M | $504M | $479M | $496M | $476M | |
| Financing Cash Flow | $-1.35B | $-252M | $-279M | $-801M | $-29M | $-213M | $-2.24B | $-1.12B | $-338M | $-446M | |
| Net Change in Cash | $28M | $-312M | $240M | $-909M | $200M | $123M | $890M | $-1.20B | $315M | $-344M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | · | · | 26.9% | · | · | |
| Net Margin | 50.0% | 3.9% | 5.8% | -19.2% | 11.1% | -19.4% | 163.5% | 20.8% | · | · | |
| Pretax Margin | 52.5% | 2.4% | 3.4% | -20.1% | 12.4% | -27.8% | 178.6% | 21.2% | · | · | |
| EBITDA Margin | 26.6% | 26.3% | 25.3% | 29.2% | 27.2% | 27.4% | 22.8% | 48.8% | · | · | |
| ROA | 5.7% | 0.44% | 0.65% | -2.1% | 1.1% | -1.7% | 17.8% | 2.6% | 1.2% | · | |
| ROE | 16.2% | 1.3% | 1.9% | -5.7% | 2.8% | -4.5% | 56.2% | 10.2% | 4.0% | · | |
| ROIC | · | · | · | · | · | · | · | 12.0% | 12.2% | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | · |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.3% | -1.3% | 0.62% | 13.3% | 4.0% | · | · | · | · | · | |
| Revenue CAGR 3Y | 0.19% | 4.0% | 5.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.5% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 10400.0% | -82.6% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | -57.7% | · | · | · | · | · | · | · | · | |
| Net Income YoY | 1185.7% | -33.3% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | -26.3% | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -29.8% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.81B | $1.79B | $1.81B | $1.80B | $1.59B | $1.53B | $1.92B | $2.16B | $2.08B | $2.00B | |
| Net Income TTM | $905M | $70M | $105M | $-346M | $176M | $-297M | $3.15B | $450M | $227M | $907M | |
| Market Cap | $6.35B | $8.02B | $5.38B | $3.99B | $8.03B | $7.15B | $12.70B | $11.82B | $14.85B | · | |
| P/E | 7.9 | 1051.0 | 122.8 | -9.8 | 79.0 | -20.4 | 4.1 | 30.9 | 92.0 | 19.4 | |
| P/S | 3.5 | 4.5 | 3.0 | 2.2 | 5.0 | 4.7 | 6.6 | 5.5 | 7.1 | · | |
| P/B | 1.1 | 1.6 | 1.0 | 0.7 | 1.3 | 1.1 | 1.9 | 2.6 | 3.4 | · | |
| P / Tangible Book | 1.1 | 1.6 | 1.0 | 0.7 | 1.3 | 1.1 | · | · | · | · | |
| P / Cash Flow | 5.0 | 14.9 | 8.3 | 5.0 | 10.5 | 16.8 | 19.2 | 14.7 | 17.3 | · | |
| Dividend Yield | 2.2% | 1.8% | 2.4% | 10.2% | 5.1% | 11.6% | 4.0% | 4.1% | 3.3% | · | |
| Earnings Yield | 12.6% | 0.10% | 0.81% | -10.2% | 1.3% | -4.9% | 24.4% | 3.2% | 1.1% | 5.1% | |
| Payout Ratio | 15.6% | 200.5% | 122.3% | -117.3% | 230.8% | -278.6% | 16.0% | 106.5% | 218.3% | · | |
| Annual Payout | $141M | $141M | $129M | $407M | $406M | $827M | $504M | $479M | $496M | $476M |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $462M | $459M | $454M | $454M | $441M | $462M | $458M | $443M | $450M | $436M | $442M | $451M | $472M | $446M | $447M | $457M | |
| SG&A Expense | $39M | $42M | $40M | $37M | $40M | $39M | $37M | $36M | $38M | $38M | $46M | $36M | $39M | $42M | $31M | $29M | |
| Operating Expenses | $437M | $409M | $388M | $407M | $379M | $378M | $389M | $393M | $382M | $378M | $430M | $382M | $372M | $381M | $406M | $386M | |
| Interest Income | $155.0K | $269.0K | $3M | $4M | $1M | $1M | $1M | $2M | $0 | $0 | $298.0K | $291.0K | $278.0K | $484.0K | $2M | $1M | |
| Other Non-op | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | · | $231.0K | $0 | |
| Pretax Income | $43M | $-16M | $13M | $14M | $817M | $107M | $12M | $-15M | $45M | $467.0K | $-92M | $71M | $67M | $16M | $-518M | $24M | |
| Income Tax | $4M | $6M | $8M | $-6M | $4M | $7M | $6M | $5M | $5M | $7M | $8M | $12M | $4M | $5M | $7M | $4M | |
| Net Income | $32M | $-7M | $16M | $27M | $759M | $102M | $17M | $-4M | $51M | $6M | $-45M | $68M | $62M | $21M | $-478M | $23M | |
| EPS (Basic) | $0.09 | $-0.12 | $0.02 | $0.06 | $3.87 | $0.45 | $0.00 | $-0.10 | $0.19 | $-0.05 | $-0.32 | $0.28 | $0.24 | $0.03 | $-2.57 | $0.04 | |
| EPS (Diluted) | $0.08 | $-0.12 | $0.01 | $0.06 | $3.70 | $0.43 | $0.01 | $-0.10 | $0.18 | $-0.05 | $-0.32 | $0.28 | $0.24 | $0.03 | $-2.57 | $0.04 | |
| Shares (Basic) | 187,279,000 | 189,658,000 | -383,646,000 | 192,050,000 | 191,984,000 | 191,371,000 | -380,938,000 | 190,556,000 | 190,492,000 | 190,429,000 | -382,696,000 | 190,364,000 | 191,468,000 | 191,869,000 | -383,492,000 | 191,793,000 | |
| Shares (Diluted) | 194,201,000 | 189,682,000 | -400,902,000 | 200,150,000 | 201,066,000 | 200,735,000 | -378,764,000 | 190,556,000 | 194,405,000 | 190,429,000 | -387,750,000 | 192,921,000 | 194,804,000 | 191,881,000 | -384,320,000 | 192,018,000 | |
| EBITDA | · | $124M | · | · | · | $121M | · | · | · | $114M | · | · | · | $113M | · | · |
Balance Sheet 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $675M | $1.08B | $841M | $1.01B | $1.20B | $569M | $734M | $784M | $873M | $893M | $997M | $1.00B | $1.13B | $891M | $890M | $845M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $277M | · | $445M | |
| Intangibles | $107M | $109M | $111M | $112M | $114M | $116M | $118M | $120M | $122M | $125M | · | $130M | $135M | $137M | · | $142M | |
| Total Assets | $15.61B | $15.92B | $15.52B | $15.75B | $15.61B | $15.60B | $16.00B | $16.08B | $16.21B | $16.21B | · | $16.45B | $16.44B | $16.27B | · | $17.18B | |
| Total Liabilities | $8.91B | $9.21B | $8.72B | $8.73B | $8.59B | $9.37B | $9.83B | $9.82B | $9.80B | $9.83B | · | $9.91B | $9.96B | $9.91B | · | $10.00B | |
| Long-term Debt | $2.60B | $2.80B | $2.26B | $2.26B | $2.12B | $2.12B | $2.57B | $2.57B | $2.57B | $2.56B | · | $2.56B | $2.56B | $2.56B | · | $2.56B | |
| Common Stock | $7M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | $8M | · | $8M | $8M | $8M | · | $8M | |
| Paid-in Capital | $8.20B | $8.41B | $8.29B | $8.17B | $8.20B | $8.15B | $8.05B | $8.09B | $8.31B | $8.26B | · | $8.34B | $8.33B | $8.37B | · | $8.36B | |
| Retained Earnings | $-3.63B | $-3.59B | $-3.49B | $-3.30B | $-3.31B | $-4.06B | $-4.14B | $-4.00B | $-3.98B | $-4.02B | · | $-3.89B | $-3.94B | $-3.96B | · | $-3.30B | |
| AOCI | $26M | $15M | $-5.0K | $4M | $10M | $27M | $58M | $-478.0K | $105M | $106M | · | $170M | $152M | $96M | · | $185M | |
| Stockholders' Equity | $5.79B | $6.02B | $5.99B | $6.07B | $6.09B | $5.31B | $5.16B | $5.28B | $5.63B | $5.54B | · | $5.81B | $5.73B | $5.69B | · | $6.44B | |
| Liabilities + Equity | $15.61B | $15.92B | $15.52B | $15.75B | $15.61B | $15.60B | $16.00B | $16.08B | $16.21B | $16.21B | · | $16.45B | $16.44B | $16.27B | · | $17.18B | |
| Shares Outstanding | 186,720,531 | 188,097,756 | 190,666,367 | 192,054,832 | 192,040,522 | 191,949,153 | 190,846,580 | 190,649,061 | 190,505,371 | 190,483,416 | 190,391,000 | 190,321,756 | 190,543,866 | 191,880,615 | 191,867,000 | 191,816,684 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $176M | $124M | $118M | $122M | $120M | $121M | $118M | $121M | $116M | $114M | $116M | $116M | $113M | $113M | $140M | $140M | |
| Stock-based Comp | $8M | $6M | $6M | $6M | $8M | $6M | $7M | $7M | $9M | $8M | $10M | $10M | $12M | $12M | $6M | $4M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | |
| Other Non-cash | · | $-75M | · | · | · | $-178M | · | · | · | $-97M | · | · | · | $-53M | · | · | |
| Operating Cash Flow | $164M | $48M | $146M | $33M | $1.03B | $52M | $206M | $105M | $195M | $31M | $211M | $62M | $283M | $92M | $239M | $129M | |
| Investing Cash Flow | $-269M | $-230M | $-93M | $-317M | $250M | $276M | $-110M | $-180M | $-178M | $-129M | $-195M | $-87M | $27M | $126M | $-57M | $-134M | |
| Debt Issued | $200M | $1.51B | $374.0K | $715M | $0 | $120M | $0 | $0 | $75M | $0 | $0 | $0 | · | · | $0 | $0 | |
| Net Debt Issued | · | $547M | · | · | · | $-454M | · | · | · | $0 | · | · | · | $-110M | · | · | |
| Stock Repurchased | $53M | $80M | · | · | $0 | $0 | $0 | $0 | · | · | $0 | $6M | · | · | $0 | $0 | |
| Net Stock Activity | · | $-80M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | · | · | · | · | · | · | $141M | $0 | $0 | $0 | $57M | $0 | $0 | $72M | $102M | $102M | |
| Financing Cash Flow | $-318M | $416M | $-228M | $72M | $-720M | $-470M | $-175M | $-13M | $-48M | $-16M | $-18M | $-25M | $-31M | $-205M | $-138M | $-135M | |
| Net Change in Cash | $-423M | $234M | $-175M | $-211M | $556M | $-143M | $-79M | $-88M | $-32M | $-113M | $-896.0K | $-50M | $278M | $13M | $44M | $-139M |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 6.9% | -1.6% | · | 6.0% | 172.0% | 22.2% | · | -0.82% | 11.3% | 1.5% | · | 15.2% | 13.1% | 4.6% | · | 5.1% | |
| Pretax Margin | 9.2% | -3.5% | · | 3.0% | 185.2% | 23.2% | · | -3.3% | 10.1% | 0.11% | · | 15.8% | 14.2% | 3.6% | · | 5.2% | |
| EBITDA Margin | · | 27.0% | · | · | · | 26.3% | · | · | · | 26.1% | · | · | · | 25.2% | · | · | |
| ROA | 0.20% | -0.05% | · | 0.17% | 4.8% | 0.64% | · | -0.02% | 0.31% | 0.04% | · | 0.41% | 0.37% | 0.12% | · | 0.13% | |
| ROE | 0.54% | -0.13% | · | 0.48% | 13.0% | 1.9% | · | -0.07% | 0.89% | 0.12% | · | 1.1% | 1.0% | 0.35% | · | 0.37% |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.82B | $1.82B | · | $1.80B | $1.80B | $1.79B | · | $1.78B | $1.81B | $1.81B | · | $1.83B | $1.83B | $1.80B | · | $1.76B | |
| Net Income TTM | $811M | $882M | · | $885M | $909M | $156M | · | $122M | $188M | $157M | · | $174M | $172M | $152M | · | $195M | |
| Market Cap | $7.34B | $4.89B | · | $7.78B | $7.34B | $7.10B | · | $7.51B | $5.01B | $5.48B | · | $4.32B | $3.46B | $2.95B | · | $4.44B | |
| P/E | 10.6 | 6.4 | · | 9.9 | 9.1 | 80.4 | · | 127.1 | 40.4 | 57.5 | · | 38.4 | 31.8 | 32.7 | · | 36.2 | |
| P/S | 4.0 | 2.7 | · | 4.3 | 4.1 | 4.0 | · | 4.2 | 2.8 | 3.0 | · | 2.4 | 1.9 | 1.6 | · | 2.5 | |
| P/B | 1.3 | 0.8 | · | 1.3 | 1.2 | 1.3 | · | 1.4 | 0.9 | 1.0 | · | 0.7 | 0.6 | 0.5 | · | 0.7 | |
| P / Tangible Book | 1.3 | 0.8 | · | 1.3 | 1.2 | 1.4 | · | 1.5 | 0.9 | 1.0 | · | 0.8 | 0.6 | 0.5 | · | 0.7 | |
| P / Cash Flow | · | 102.4 | · | · | · | 136.5 | · | · | · | 174.1 | · | · | · | 32.1 | · | · | |
| Earnings Yield | 9.5% | 15.7% | · | 10.1% | 11.0% | 1.2% | · | 0.79% | 2.5% | 1.7% | · | 2.6% | 3.1% | 3.1% | · | 2.8% | |
| Payout Ratio | · | · | · | · | · | · | · | · | · | 0.00% | · | · | · | 347.6% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.81B | $1.79B | $1.81B | $1.80B | $1.59B |
| Net Income | $905M | $70M | $105M | $-346M | $176M |
| Diluted EPS | $4.20 | $0.04 | $0.23 | $-2.13 | $0.53 |
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Institutional owners (13F) 465 filers · $4.2B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 82 (+4 vs prior Q) | 36 (-14 vs prior Q) | 137 (-20 vs prior Q) | 133 (+26 vs prior Q) | +18.4M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $570,971,622 | 14,528,540 | 13.68% | Shares |
| NORGES BANK | $566,364,404 | 14,411,308 | 13.56% | Shares |
| Resolution Capital Ltd | $369,002,045 | 9,389,365 | 8.84% | Shares |
| STATE STREET CORP | $316,704,749 | 8,058,645 | 7.59% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $296,653,063 | 7,548,424 | 7.11% | Shares |
| Kemnay Advisory Services Inc. | $229,295,103 | 5,834,481 | 5.49% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $134,265,856 | 3,416,434 | 3.22% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $114,695,608 | 2,917,739 | 2.75% | Shares |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | $109,085,010 | 2,775,700 | 2.61% | Shares |
| EARNEST PARTNERS LLC | $97,562,997 | 2,482,519 | 2.34% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $86,779,981 | 2,208,142 | 2.08% | Shares |
| Gotham Asset Management, LLC | $75,821,254 | 1,929,294 | 1.82% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $70,435,071 | 1,792,241 | 1.69% | Shares |
| First Pacific Advisors, LP | $66,171,807 | 1,683,761 | 1.58% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $51,466,455 | 1,309,579 | 1.23% | Shares |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | $46,036,649 | 1,171,416 | 1.10% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $39,808,896 | 1,012,949 | 0.95% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $34,701,271 | 882,984 | 0.83% | Shares |
| State of Tennessee, Department of Treasury | $32,005,999 | 814,402 | 0.77% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $29,813,732 | 754,587 | 0.71% | Shares |
| Adelante Capital Management LLC | $27,030,047 | 687,780 | 0.65% | Shares |
| AMERICAN CENTURY COMPANIES INC | $26,058,022 | 663,054 | 0.62% | Shares |
| APG Asset Management US Inc. | $25,383,178 | 633,629 | 0.61% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $20,475,261 | 520,999 | 0.49% | Shares |
| Lodge Hill Capital, LLC | $18,753,960 | 477,200 | 0.45% | Shares |
| UBS Group AG | $18,706,250 | 475,986 | 0.45% | Shares |
| RHUMBLINE ADVISERS | $18,613,539 | 473,628 | 0.45% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $17,271,682 | 439,483 | 0.41% | Shares |
| TWO SIGMA INVESTMENTS, LP | $15,919,133 | 405,067 | 0.38% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $15,781,802 | 401,573 | 0.38% | Shares |
| Pacific Heights Asset Management LLC | $15,720,000 | 400,000 | 0.38% | Shares |
| California Public Employees Retirement System | $15,523,068 | 394,989 | 0.37% | Shares |
| AMERIPRISE FINANCIAL INC | $15,495,715 | 394,293 | 0.37% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $14,885,072 | 378,755 | 0.36% | Shares |
| BANK OF AMERICA CORP /DE/ | $14,552,043 | 370,281 | 0.35% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,794,300 | 351,000 | 0.33% | Call option |
| BlackRock, Inc. | $13,484,970 | 343,129 | 0.32% | Shares |
| MILLENNIUM MANAGEMENT LLC | $13,243,786 | 336,992 | 0.32% | Shares |
| Swiss National Bank | $12,619,898 | 321,117 | 0.30% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $12,560,752 | 319,612 | 0.30% | Shares |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO | $11,122,490 | 283,015 | 0.27% | Shares |
| Quantinno Capital Management LP | $10,964,970 | 279,006 | 0.26% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $10,736,128 | 322,600 | 0.26% | Shares |
| FIRST TRUST ADVISORS LP | $10,603,937 | 269,820 | 0.25% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $10,514,126 | 267,535 | 0.25% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $10,283,474 | 261,666 | 0.25% | Shares |
| GOLDMAN SACHS GROUP INC | $9,091,308 | 231,331 | 0.22% | Shares |
| Allianz Asset Management GmbH | $8,617,036 | 219,263 | 0.21% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $7,630,095 | 194,150 | 0.18% | Shares |
| Mariner, LLC | $7,464,600 | 189,935 | 0.18% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $7,169,931 | 182,441 | 0.17% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $6,883,002 | 175,140 | 0.16% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $6,690,196 | 170,234 | 0.16% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $6,556,891 | 166,842 | 0.16% | Shares |
| Retirement Systems of Alabama | $6,422,367 | 163,419 | 0.15% | Shares |
| RAYMOND JAMES FINANCIAL INC | $6,330,130 | 161,072 | 0.15% | Shares |
| Vanguard Investments Australia, Ltd. | $6,275,699 | 159,687 | 0.15% | Shares |
| Marnell Management LLC | $6,142,276 | 156,292 | 0.15% | Shares |
| ALLIANCEBERNSTEIN L.P. | $6,031,265 | 232,061 | 0.14% | Shares |
| Asset Management One Co., Ltd. | $5,961,872 | 229,391 | 0.14% | Shares |
| Lighthouse Investment Partners, LLC | $5,895,000 | 150,000 | 0.14% | Call option |
| NAN FUNG TRINITY (HK) LTD | $5,651,340 | 143,800 | 0.14% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $5,451,489 | 138,715 | 0.13% | Shares |
| BARCLAYS PLC | $5,451,068 | 138,704 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $5,333,010 | 135,700 | 0.13% | Call option |
| Mitsubishi UFJ Asset Management Co., Ltd. | $5,329,945 | 135,622 | 0.13% | Shares |
| Squarepoint Ops LLC | $5,263,370 | 133,928 | 0.13% | Shares |
| TUDOR INVESTMENT CORP ET AL | $5,059,364 | 128,737 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,022,412 | 193,244 | 0.12% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $4,880,274 | 124,180 | 0.12% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $4,732,455 | 120,375 | 0.11% | Shares |
| GOLDMAN SACHS GROUP INC | $4,716,000 | 120,000 | 0.11% | Call option |
| IEQ CAPITAL, LLC | $4,705,167 | 119,724 | 0.11% | Shares |
| OPPENHEIMER ASSET MANAGEMENT INC. | $4,584,463 | 116,653 | 0.11% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $4,583,048 | 116,617 | 0.11% | Shares |
| JANE STREET GROUP, LLC | $4,385,880 | 111,600 | 0.11% | Call option |
| BNP PARIBAS FINANCIAL MARKETS | $4,247,190 | 108,071 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,220,820 | 107,400 | 0.10% | Put option |
| MACQUARIE GROUP LTD | $4,182,345 | 106,421 | 0.10% | Shares |
| Amundi | $4,100,994 | 104,351 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,076,589 | 103,730 | 0.10% | Shares |
| Taproot Management LP | $3,987,958 | 153,442 | 0.10% | Shares |
| Skopos Labs, Inc. | $3,935,350 | 151,418 | 0.09% | Shares |
| New Age Alpha Advisors, LLC | $3,783,215 | 96,265 | 0.09% | Shares |
| Holocene Advisors, LP | $3,768,988 | 95,903 | 0.09% | Shares |
| Legal & General Group Plc | $3,733,736 | 95,006 | 0.09% | Shares |
| Lighthouse Investment Partners, LLC | $3,548,918 | 90,303 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $3,446,610 | 87,700 | 0.08% | Put option |
| Vert Asset Management LLC | $3,321,086 | 84,506 | 0.08% | Shares |
| WATERFALL ASSET MANAGEMENT, LLC | $3,183,300 | 81,000 | 0.08% | Shares |
| MetLife Investment Management, LLC | $3,175,637 | 80,805 | 0.08% | Shares |
| Police & Firemen's Retirement System of New Jersey | $3,166,598 | 80,575 | 0.08% | Shares |
| Odyssean, LLC | $3,052,824 | 77,680 | 0.07% | Shares |
| Nebula Research & Development LLC | $3,040,042 | 79,499 | 0.07% | Shares |
| PineBridge Investments, L.P. | $2,895,585 | 71,443 | 0.07% | Shares |
| Collar Capital Management, LLC | $2,893,659 | 73,630 | 0.07% | Shares |
| NORTHERN TRUST CORP | $2,881,869 | 73,330 | 0.07% | Shares |
| Aberdeen Group plc | $2,792,108 | 71,046 | 0.07% | Shares |
| Resona Asset Management Co.,Ltd. | $2,743,340 | 69,462 | 0.07% | Shares |
| Vanguard Personalized Indexing Management, LLC | $2,718,813 | 69,181 | 0.07% | Shares |
Company insiders 35 insiders · 18 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steven Roth | CHAIRMAN AND CEO | May 18, 2026 G | 0 | 0 | 0 | $0 |
| Michael J. Franco | President and CFO | Jan. 12, 2022 A | 12,231 | 0 | 0 | $0 |
| Stephen W. Theriot | Chief Financial Officer | Jan. 13, 2017 A | 3,100 | 0 | 0 | $0 |
| Mitchell N Schear | President - VNO/Smith Division | April 3, 2017 M | 63,877 | 0 | 0 | $0 |
| Mark Falanga | President-Merch. Mart Division | March 1, 2013 M | 6,376 | 0 | 0 | $0 |
| Christopher Kennedy | President - Merchandise Mart | March 1, 2011 M | 135,127 | 0 | 0 | $0 |
| Melvyn H Blum | Former President - Development | Oct. 21, 2005 M | 60,000 | 0 | 0 | $0 |
| Haim Chera | EVP- Head of Retail | Jan. 12, 2022 A | — | 0 | 0 | $0 |
| Glen J. Weiss | EVP- Off Leasing Co- Head R.E. | Jan. 12, 2022 A | 0 | 0 | 0 | $0 |
| Barry Langer | EVP - Dev. Co-Head of R.E. | Jan. 12, 2022 A | 11,966 | 0 | 0 | $0 |
| Matthew Iocco | EVP - Chief Accounting Officer | Jan. 12, 2021 A | 0 | 0 | 0 | $0 |
| David R Greenbaum | Vice Chairman | April 18, 2020 D | 43,577 | 0 | 0 | $0 |
| Wendy Silverstein | EVP - Capital Markets & Acq. | March 2, 2015 J | 86,854 | 0 | 0 | $0 |
| Robert Minutoli | EVP - Retail | Sept. 17, 2014 P | 7,035 | 0 | 0 | $0 |
| Michael J. Demarco | EVP | Feb. 28, 2011 A | 11,995 | 0 | 0 | $0 |
| Sandeep Mathrani | EVP - Retail Division | Jan. 12, 2011 M | 24,208 | 0 | 0 | $0 |
| Michelle Felman | EVP - Acquisitions | Nov. 5, 2010 M | 17,883 | 0 | 0 | $0 |
| Paul Larner | Exec Vice Pres-Chief Admin Off | Oct. 3, 2003 M | 45,056 | 0 | 0 | $0 |
| Michael D Fascitelli | Director | June 17, 2026 S | 475,161 | 0 | 2 | $-4,882,770 |
| Russell B Wight JR | Director | June 8, 2026 P | 4,000 | 4 | 0 | $67,750 |
| Candace K Beinecke | Director | May 21, 2026 A | 10,201 | 0 | 0 | $0 |
| Mandakini Puri | Director | May 21, 2026 A | — | 0 | 0 | $0 |
| Daniel R Tisch | Director | May 21, 2026 A | 215,000 | 5 | 0 | $5,633,850 |
| Beatrice Hamza Bassey | Director | May 20, 2021 A | — | 0 | 0 | $0 |
| Michael Lynne | Director | Feb. 15, 2019 A | 2,136 | 0 | 0 | $0 |
| Robert P Kogod | Director | May 17, 2018 A | 196,842 | 0 | 0 | $0 |
| Ronald G Targan | Director | Aug. 7, 2013 A | 0 | 0 | 0 | $0 |
| VORNADO REALTY TRUST | Director | March 4, 2013 S | 6,184,610 | 0 | 0 | $0 |
| Anthony W Deering | Director | May 24, 2012 A | 5,643 | 0 | 0 | $0 |
| Robert H Smith | Director | Dec. 14, 2009 A | 1,750 | 0 | 0 | $0 |
| Raymond J Mcguire | — | May 21, 2026 A | — | 0 | 0 | $0 |
| William W Helman | — | May 21, 2026 A | 15,200 | 0 | 0 | $0 |
| David Mandelbaum | — | May 21, 2026 A | 5,607,174 | 0 | 0 | $0 |
| Richard R West | — | May 20, 2021 A | 0 | 0 | 0 | $0 |
| Joseph Macnow | — | March 30, 2020 A | 3,128 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 36 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Interstate Properties, Steven Roth, Russell B. Wight, Jr., David Mandelbaum ×4 filings | Aug. 22, 2023 | — | Initial filing | — | SEC |
| Vornado Realty Trust, Vornado Realty L.P., VNO Fashion LLC, VSPS I LLC, Two Penn Plaza REIT, Inc., Two Penn Plaza REIT JP Fashion LLC, CESC H Street L.L.C., H Street Building Corporation, H Street JP Fashion LLC, Vornado RTR, Inc., PCJ I Inc. ×6 filings | Sept. 20, 2013 | — | Initial filing | — | SEC |
| Sept. 19, 2011 | — | Initial filing | — | SEC | |
| Feb. 25, 2011 | — | Initial filing | — | SEC | |
| Feb. 9, 2011 | — | Initial filing | — | SEC | |
| Jan. 25, 2011 | — | Initial filing | — | SEC | |
| Nov. 10, 2010 | — | Initial filing | — | SEC | |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 4, 2009 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 26, 2008 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Nov. 16, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 5, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 12, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 19, 2005 | — | Initial filing | Board campaign | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 10, 2004 | — | Initial filing | Board campaign | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Feb. 13, 2004 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 86 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| EPSV · Harbor ETF Trust | 1.57% | 2,624 NS | April 30, 2026 | N-PORT |
| PPTY · ETF Series Solutions | 1.52% | 11,126 NS | May 31, 2026 | N-PORT |
| EPMV · Harbor ETF Trust | 1.47% | 2,176 NS | April 30, 2026 | N-PORT |
| FLOW · Global X Funds | 1.13% | 9,567 NS | May 31, 2026 | N-PORT |
| FNK · First Trust Exchange-Traded AlphaDE… | 0.81% | 58,637 NS | April 30, 2026 | N-PORT |
| HWSM · HOTCHKIS & WILEY FUNDS /DE/ | 0.79% | 555 NS | June 30, 2026 | N-PORT |
| GQRE · FlexShares Trust | 0.59% | 76,160 NS | April 30, 2026 | N-PORT |
| BBRE · J.P. Morgan Exchange-Traded Fund Tr… | 0.52% | 188,796 NS | May 31, 2026 | N-PORT |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.39% | 175,034 NS | April 30, 2026 | N-PORT |
| SCHH · SCHWAB STRATEGIC TRUST | 0.38% | 1,133,020 NS | May 31, 2026 | N-PORT |
| PAMC · Pacer Funds Trust | 0.38% | 8,000 NS | April 30, 2026 | N-PORT |
| DFAR · Dimensional ETF Trust | 0.38% | 211,765 NS | April 30, 2026 | N-PORT |
| FREL · FIDELITY COVINGTON TRUST | 0.32% | 155,975 NS | April 30, 2026 | N-PORT |
| DFGR · Dimensional ETF Trust | 0.25% | 290,159 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.24% | 11,332 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.23% | 33,697 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.22% | 217 NS | May 29, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.19% | 20,419 NS | April 30, 2026 | N-PORT |
| PTMC · Pacer Funds Trust | 0.14% | 18,398 NS | April 30, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.14% | 110,924 NS | April 30, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 19,743 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.12% | 25,543 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.12% | 5,535 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.11% | 768,078 NS | May 31, 2026 | N-PORT |
| FVAL · FIDELITY COVINGTON TRUST | 0.11% | 45,895 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.10% | 433,362 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 65,931 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.09% | 2,652 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.08% | 773 NS | May 31, 2026 | N-PORT |
| REVS · Columbia ETF Trust I | 0.06% | 6,157 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.06% | 157,188 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.05% | 30,646 NS | April 30, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.03% | 1,391 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.03% | 6,994 NS | May 31, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.03% | 50,342 NS | April 30, 2026 | N-PORT |
| GVUS · Goldman Sachs ETF Trust | 0.02% | 2,121 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 5,448 NS | May 31, 2026 | N-PORT |
| FNDX · SCHWAB STRATEGIC TRUST | 0.01% | 82,251 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.01% | 5,406 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.01% | 12,966 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.01% | 95,387 NS | May 31, 2026 | N-PORT |
| MSLC · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 6,515 NS | May 31, 2026 | N-PORT |
| CLSE · Trust for Professional Managers | -0.14% | -25,734 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | — | — | July 15, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | — | — | July 15, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | — | — | July 15, 2026 | Daily |