• Sun. May 19th, 2024

Vornado Goes on ‘Offense’ in Reaction to Slumping Stock


May 2, 2023
Vornado Realty Trust, a major New York developer behind the Penn District project surrounding Penn Station, said it plans to buy back stocks after years of resisting the idea. (Andria Cheng/CoStar)


After “years and years” of balking at stock repurchases, Vornado Realty Trust CEO Steven Roth said he’s had a change of heart. The New York real estate investment trust, which owns prominent office properties around the United States, plans to buy back as much as $200 million of its common shares outstanding while it suspends paying dividends until later this year.

Leave a Reply

Your email address will not be published. Required fields are marked *