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$73.35 -6.26 (-7.86%)
10/7/2008 4:02 PM

Vornado Realty Trust (VNO)

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A fully integrated real estate investment trust that owns and operates office, retail and showroom properties with large concentrations of office and retail properties in the New York City metropolitan area and in the Washington, DC and Northern Virginia.

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Avatar jwfoster (99.48) Submitted: 2/05/07 3:01 PM : Underperform Start Price: $118.72 VNO Score: 7.27

Massive REIT bubble. I bought this stock after Sept 11 attacks when the yield was over 9%. Current yield is under 3% fully taxable. Its a greater fools game with ZERO value at this price.

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Avatar scosan (< 20) Submitted: 2/08/07 2:43 PM

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I hope you're right. I want to buy more of this at a cheaper price. (I voted it would go up).

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Avatar jwfoster (99.48) Submitted: 2/08/07 5:19 PM

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You'll be able to get shares at about half the going rate.

Most REITS have fully taxable yields inline with the S&P 500 and real estate portfolios worth 1/3 the REITs current market caps and declining in value. The valuations make about as much sense as Intel when it was worth a half trillion. These stocks will enter a 2-3 year bear market similar to the home builders.

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