Vornado Realty Trust refinanced a $120 million loan for 4 Union Square South at a fixed rate of 5.64%.
Quiver AI Summary
Vornado Realty Trust has successfully completed a $120 million refinancing of its retail property at 4 Union Square South in Manhattan, which spans 204,000 square feet. The new ten-year loan features a fixed interest rate of 5.64%, replacing an earlier loan that had a variable rate pegged to SOFR and was set to mature in August 2025. Vornado Realty Trust operates as a fully-integrated equity real estate investment trust. The press release includes a cautionary note regarding forward-looking statements, highlighting the potential impact of various risks and uncertainties on future performance, including interest rate fluctuations and inflation, which could affect not only their operations but also the broader economy and real estate market.
Potential Positives
- Vornado Realty Trust successfully refinanced a $120 million loan for a key Manhattan retail property, enhancing financial flexibility.
- The new ten-year loan at a fixed rate of 5.64% may provide cost stability compared to the previous variable interest rate loan.
- By replacing the existing loan scheduled to mature soon, Vornado has mitigated impending refinancing risk and secured long-term funding for its asset.
Potential Negatives
- The new refinancing comes with a slightly lower interest rate (5.64%) compared to the previous loan's effective rate (5.85%), which may indicate difficulty in securing more favorable financing terms amidst challenging economic conditions.
- The reliance on a ten-year interest-only loan may suggest concerns about future cash flow and repayment abilities, raising questions about long-term financial stability.
- Forward-looking statements caution about numerous risks and uncertainties, which can undermine investor confidence in the company's future performance and business outlook.
FAQ
What recent financing did Vornado Realty Trust announce?
Vornado Realty Trust announced a $120 million refinancing of 4 Union Square South.
What is the interest rate on the new loan?
The new loan has a fixed interest rate of 5.64%.
What type of property is 4 Union Square South?
4 Union Square South is a 204,000 square foot retail property located in Manhattan.
How does the new loan compare to the previous loan?
The previous loan had an interest rate of SOFR plus 1.50%, totaling 5.85% as of August 11, 2025.
What is Vornado Realty Trust?
Vornado Realty Trust is a fully-integrated equity real estate investment trust (REIT).
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$VNO Insider Trading Activity
$VNO insiders have traded $VNO stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $VNO stock by insiders over the last 6 months:
- HAIM CHERA (EVP- HEAD OF RETAIL) sold 20,000 shares for an estimated $759,629
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$VNO Hedge Fund Activity
We have seen 198 institutional investors add shares of $VNO stock to their portfolio, and 196 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DEUTSCHE BANK AG\ removed 2,742,441 shares (-92.9%) from their portfolio in Q2 2025, for an estimated $104,870,943
- JPMORGAN CHASE & CO added 2,344,037 shares (+88.1%) to their portfolio in Q2 2025, for an estimated $89,635,974
- PRICE T ROWE ASSOCIATES INC /MD/ removed 1,462,612 shares (-16.5%) from their portfolio in Q1 2025, for an estimated $54,102,017
- FMR LLC added 1,075,662 shares (+2968.4%) to their portfolio in Q1 2025, for an estimated $39,788,737
- INVESCO LTD. added 1,067,284 shares (+34.0%) to their portfolio in Q1 2025, for an estimated $39,478,835
- CITADEL ADVISORS LLC removed 1,066,751 shares (-47.2%) from their portfolio in Q1 2025, for an estimated $39,459,119
- BAMCO INC /NY/ removed 893,247 shares (-36.6%) from their portfolio in Q1 2025, for an estimated $33,041,206
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$VNO Analyst Ratings
Wall Street analysts have issued reports on $VNO in the last several months. We have seen 0 firms issue buy ratings on the stock, and 2 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Underweight" rating on 03/14/2025
- Goldman Sachs issued a "Sell" rating on 02/25/2025
To track analyst ratings and price targets for $VNO, check out Quiver Quantitative's $VNO forecast page.
$VNO Price Targets
Multiple analysts have issued price targets for $VNO recently. We have seen 8 analysts offer price targets for $VNO in the last 6 months, with a median target of $38.5.
Here are some recent targets:
- Steve Sakwa from Evercore ISI Group set a target price of $44.0 on 08/06/2025
- Nicholas Yulico from Scotiabank set a target price of $45.0 on 07/14/2025
- Vikram Malhorta from Mizuho set a target price of $43.0 on 07/14/2025
- Michael Lewis from Truist Securities set a target price of $38.0 on 06/03/2025
- Alexander Goldfarb from Piper Sandler set a target price of $39.0 on 05/23/2025
- Ross Smotrich from Barclays set a target price of $32.0 on 03/14/2025
- Ronald Kamdem from Morgan Stanley set a target price of $28.0 on 03/14/2025
Full Release
NEW YORK, Aug. 12, 2025 (GLOBE NEWSWIRE) --
Vornado Realty Trust (NYSE:VNO) announced today that it has completed a $120 million refinancing of 4 Union Square South, a 204,000 square foot Manhattan retail property. The ten-year interest only loan has a fixed rate of 5.64%.
The loan replaces the previous $120 million loan that bore interest at SOFR plus 1.50% (5.85% as of August 11, 2025) and was originally scheduled to mature in August 2025.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
CONTACT
Thomas J. Sanelli
(212) 894-7000
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2024. Currently, some of the factors are interest rate fluctuations and the effects of inflation on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general.
