Author's Note: This article has been modified from its original form to change its main focus to Vornado from Alexander's, as it included substantial commentary about Vornado
Value is becoming harder to find in the REIT
Vornado: An Excellent Value Stock Currently Yielding 5.1%
Summary
- Vornado owns iconic properties in the NYC region and is seeing signs of a rebound. Yet its stock trades in value territory.
- If the recent City Office transaction is any indication, it could mean a public and private market price dislocation for Vornado as well.
- I also highlight the balance sheet, dividends, and other points worth considering.
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