$VNO (Vornado Realty Trust)

$VNO {{ '2015-08-04T16:21:15+0000' | timeago}} • Webcast

$VNO 2Q15 Call: Our total debt to enterprise value is 35.5% and our total debt to EBITDA ratio is 7.3 times. Our consolidated debt mix is balanced with fixed rate debt accounting for 73% of the total with the weighted average rate of 4.34% and a weighted average term of 5.1 years.

$SLG {{ '2017-08-24T22:50:08+0000' | timeago}} • Announcement

$SLG and $VNO have closed a $1.2Bil refinancing of 280 Park Avenue, a premier 1,250,000 sq. ft. Manhattan office building held by the companies in a JV. The floating rate, interest-only loan carries a rate of LIBOR plus 1.73%, currently 2.97%, and matures in September 2024, as extended.

$VNO {{ '2017-07-31T22:10:17+0000' | timeago}} • Announcement

During 2Q17, $VNO reported FFO attributable to common shareholders plus assumed conversions of $257.7MM or $1.35 per share compared to $229.4MM or $1.21 per share for 2Q16. Adjusted FFO was $237.9MM or $1.25 per share in 2Q17.

$VNO {{ '2017-07-31T22:05:59+0000' | timeago}} • Announcement

$VNO reported net income attributable to common shareholders of $116MM or $0.61 per share in 2Q17 compared to $220.5MM or $1.16 per share for 2Q16. Adjusted net income was $82MM or $0.43 per share in 2Q17. Revenues grew to $626MM from last year.

$VNO {{ '2017-07-25T13:43:22+0000' | timeago}} • Announcement

$VNO's 25% owned JV completed $500MM refinancing of 330 Madison Avenue, an 845,000 square foot Manhattan office building. $VNO's share of the net proceeds, after repayment of the existing LIBOR plus 1.30% $150MM loan and closing costs, was about $85MM.

$VNO {{ '2017-07-19T13:34:54+0000' | timeago}} • Announcement

$VNO closed the separation of JBG Smith Properties from its New York business and the combination of JBG Smith with the operating company and certain Washington, DC metropolitan area assets of The JBG Companies. $JBG Smith is now an independent public company that will being regular-way trading on the NYSE under $JBGS ticker.

$VNO {{ '2017-06-27T12:29:33+0000' | timeago}} • Announcement

$VNO has set July 7, 2017, as the record date for the spin-off of its subsidiary JBG Smith. Post spin-off, JBG will hold Vornado’s Washington DC business, which will be combined with the operating company and certain assets of The JBG Companies. JBG Smith will be a publicly-traded company listed on the NY Stock Exchange under the symbol ‘JBGS’.

$VNO {{ '2017-04-27T20:03:54+0000' | timeago}} • Announcement

$VNO declared dividends of $0.8125000 per share on its Series A Convertible preferred shares, $0.4140625 per share on Series G and I Cumulative Redeemable stock, $0.3562500 per share on Series K and  $0.3375000 per share on Series L Cumulative Redeemable stock, payable July 3, 2017 to shareholders of record on June 15, 2017.

$VNO {{ '2017-02-14T16:37:03+0000' | timeago}} • Webcast

$VNO said that it has about 1,300 tenants in its portfolio. The top 20 tenants of the company represent less than 25% of its revenue.

$VNO {{ '2017-02-14T16:00:34+0000' | timeago}} • Webcast

$VNO reported that the retail sector is experiencing some level of disruption and retail leasing has slowed. For 2017, the company expects investment sales market to be a continuation of 2016.

$VNO {{ '2017-02-14T15:49:10+0000' | timeago}} • Webcast

$VNO said that the effect of new Trump administration's financial services deregulation could have a significant and positive economic impact for New York. The company expects employment in financial services employment to increase in New York with important implications for the real estate market.

$VNO {{ '2017-02-14T15:40:50+0000' | timeago}} • Webcast

$VNO, which spun off its Washington, DC business, and merged it with JBG Companies, said that it filed a Form 10 with the SEC on Jan. 23. The company targets JBG Smith to launch at the end of 2Q17 subject to final SEC approval.

$VNO {{ '2017-02-14T12:35:38+0000' | timeago}} • Announcement

$VNO said its CFO Stephen Theriot will transfer to Washington DC to become CFO of JBG SMITH Properties, effective Feb. 15, 2017. Joseph Macnow, EVP - Finance and CAO, will return as CFO on an interim basis, also effective Feb. 15, 2017. Matthew Iocco will also now serve as $VNO's Principal Accounting Officer for SEC reporting purposes.

$VNO {{ '2017-02-14T12:33:49+0000' | timeago}} • Announcement

$VNO said its CFO Stephen Theriot will transfer to Washington DC to become CFO of JBG SMITH Properties, effective Feb. 15, 2017. JBG SMITH will be a new publicly-traded company following the spin-off of $VNO's Washington, DC business and its combination with the JBG Companies. Vornado shareholders will own about 74% of JBG SMITH.

$VNO {{ '2017-02-13T23:03:33+0000' | timeago}} • Announcement

Real estate investment trust $VNO reported higher 4Q16 earnings, helped by gain from sale of assets. Net income attributable to Vornado rose 165.75% to $667.31MM, or $3.43 per share from $251.1MM or $1.22 per share a year ago. Revenue declined 2% to $638.26MM. FFO for 4Q16 rose to $797.7MM from $259.5MM in 4Q15.

$VNO {{ '2017-01-19T12:48:49+0000' | timeago}} • Announcement

The Board of Trustees of $VNO declared a quarterly dividend of $0.71 per share, making the 2017 annual dividend $2.84 per share.  The dividend will be payable on Feb. 15, 2017 to shareholders of record on Jan. 30, 2017.

$VNO {{ '2016-12-15T13:36:56+0000' | timeago}} • Announcement

$VNO completed a $625MM refinancing of the 85 Tenth Avenue property and now owns a 49.9% interest in the entity that owns 85 Tenth Avenue. Out of the proceeds of the refinancing, $VNO received $192MM in repayment of its loans to the entity. In 4Q16, the company expects to gain approx. $161MM from repayment.

$VNO {{ '2016-12-06T12:55:54+0000' | timeago}} • Announcement

$VNO announced the completion of the $400MM refinancing of 350 Park Avenue, a 571,000 square foot Manhattan office building. The ten-year interest-only loan matures in Jan. 2027 and has a fixed rate of 3.92%.  $VNO realized net proceeds of approx. $111MM after repaying the existing 3.75% $284MM loan and closing costs.

$VNO {{ '2016-11-08T12:19:35+0000' | timeago}} • Announcement

Vornado Realty L.P., an operating partner of $VNO, extended one of its two $1.25Bil unsecured revolving credit facilities from June 2017 to February 2021. The revolving credit facilities permit the recently announced tax-free spin-off of the company's Washington, DC business.

$VNO {{ '2016-11-01T22:36:10+0000' | timeago}} • Webcast

$VNO commented that the company has no remaining consolidated debt maturities in 2016, while 2017 maturities are of $360MM. The company added that it has $4.1Bil of liquidity, comprising of $1.7Bil of cash, restricted cash and marketable securities and $2.4Bil undrawn under the $2.5Bil revolving credit facilities.

$VNO {{ '2016-11-01T22:30:51+0000' | timeago}} • Webcast

$VNO said that in the Premier Street Retail portfolio, it leased 7,500 sq. ft. during 3Q16, while occupancy was up 180 BP to 96.7%. At the Mart in Chicago, same store numbers were positive at 12.4% GAAP & 5.5% cash. The company leased 20,000 sq. ft. of office space at avg. starting rents of $47.46, which brought the occupancy up by 40 BP to 98.2%.

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