BUY Conviction3/5 Analysis quality70/100 now
Despite a challenging office real estate market, Vornado Realty is seen as a value play due to its valuation, with shares trading at 1.7 times price to book value, less than half its 2019 multiple. Occupancy rates are improving, and the company's premium office space in major cities will always have demand, leading to strong funds from operations growth.
“For NATO owns premium office space in New York San Francisco and Chicago with a book value of assets of 26.80 cents a share and that puts us price to book value at just 1.7 times less than half the average multiple back in 2019.”