OPI vs ARE vs VNO Stock Comparison

Office Properties Income Trust, Alexandria Real Estate Equities and Vornado Realty Trust Prices as of Nov 4, 2026 Peers: Industry group
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VNO Vornado Realty Trust
$36.29 +9.2% 1M +1.2% 1Y
Market cap
$6.78B
P/E
–
Revenue (TTM)
$1.84B
Div. yield
2.04%
Office REITs Real Estate
6 wins

Head to Head

10 decided of 12

Vornado Realty Trust leads on 6 of the 12 questions below (Vornado Realty Trust 6, Alexandria Real Estate Equities 3, Office Properties Income Trust 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionOPIAREVNOLeader
Larger companyMarket capitalisation $948.64M $8.01B $6.78B ARE
Cheaper on earningsLower P/E, profitable companies only -0.9x -5.5x -128.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 29.5x — –
Faster revenue growthRevenue growth, trailing twelve months -9.7% -9.9% +1.6% VNO
More profitableNet margin, trailing twelve months -253.1% -52.0% -2.9% VNO
Better return on capitalReturn on invested capital -44.8% — 2.6% VNO
Less leveragedLower net debt / EBITDA -2.4x — 7.3x OPI
Higher dividend yieldTrailing dividend yield 0.00% 6.26% 2.04% ARE
Better 1-year returnPrice return, last 12 months — -14.8% +1.2% VNO
Better 5-year returnAnnualised price return, 5 years — -25.9%/yr -4.0%/yr VNO
Less volatileAnnualised volatility, 1 year 125.9% 45.7% 33.0% VNO
Higher overall scoreMean of the five percentile scores vs peers 3/100 40/100 33/100 ARE

Percentile Scorecard

OPIAREVNO

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisOPIAREVNO
Valuation 1 #144 of 146 74 #39 of 146 38 #91 of 146
Growth 0 #145 of 145 8 #134 of 145 19 #118 of 145
Profitability 1 #140 of 141 15 #120 of 141 29 #101 of 141
Financial Health 6 #138 of 146 75 #37 of 146 33 #98 of 146
Shareholder Returns 6 #128 of 136 30 #96 of 136 49 #70 of 136
Overall 3 40 33
  • OPI ranked among 149 companies in Property REITs
  • ARE ranked among 149 companies in Property REITs
  • VNO ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodOPIAREVNOSPY
1 month -15.5%+0.4%+9.2% -1.0%
3 months -31.5%-8.2%-9.0% -0.4%
6 months —+0.4%+15.0% +4.5%
Year to date —-6.0%+9.0% +12.4%
1 year —-14.8%+1.2% +13.6%
3 years —-55.0%+57.4% +76.4%
3 years, per year —-23.4%+16.3% +20.8%
5 years —-77.7%-18.6% +63.7%
5 years, per year —-25.9%-4.0% +10.4%
10 years —-55.3%-49.1% +267.7%
10 years, per year —-7.7%-6.5% +13.9%

Risk

MeasureOPIAREVNOSPY
Volatility, 1Y 125.9%45.7%33.0% 12.8%
Downside volatility, 1Y 162.3%46.9%32.9% 12.7%
Beta vs S&P 500, 1Y 2.190.761.00 1.00
Return / volatility, 1Y —-0.320.04 1.06
Max drawdown, 5Y -64.2%-82.1%-73.6% -25.4%
From 52-week high -61.6%-22.9%-11.3% -1.6%
52-week high $33.85$59.69$40.91 $779.14
52-week low $12.11$39.91$24.71 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleOPIAREVNO
P/E now vs peer median -0.9xmedian 26.6x -5.5xmedian 26.6x -128.1xmedian 26.6x
P/S now vs peer median 2.2xmedian 4.3x 2.9xmedian 4.3x 3.7xmedian 4.3x
EV/EBITDA now vs peer median -3.7xmedian 14.7x —median 14.7x 14.4xmedian 14.7x
P/FCF now vs peer median -5.9xmedian 22.1x -16.9xmedian 22.1x -39.8xmedian 22.1x
P/B now vs peer median 1.8xmedian 1.3x 0.4xmedian 1.3x 1.1xmedian 1.3x
PEG now vs peer median 0.00median 2.01 0.05median 2.01 -2.67median 2.01

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsOPIAREVNO
Revenue $421.78M $2.76B $1.84B
Net income -$1.07B -$1.39B -$23.88M
Free cash flow -$160.30M -$473.23M -$170.39M
EPS (diluted) $-14.64 $-8.40 $-0.28
Cash & equivalents $45.80M $508.86M $580.50M
Total debt $1.68B $12.90B $7.45B
Shares (diluted) 72.92M 170.75M 186.85M
Enterprise value $802.44M $4.03B $4.24B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricOPIAREVNO
P/E -0.9x -5.5x -128.1x
P/FCF -5.9x -16.9x -39.8x
P/Operating cash flow -7.8x 6.7x 16.6x
P/S 2.2x 2.9x 3.7x
P/B 1.8x 0.4x 1.1x
P/Tangible book -3.0x 0.4x 1.1x
EV/EBITDA -3.7x – 14.4x
EV/EBIT -2.9x – 39.0x
EV/Revenue 6.1x 6.8x 7.4x
EV/FCF -16.1x -39.7x -80.1x
EV/Operating cash flow -21.2x 15.8x 33.4x
PEG (3Y EPS CAGR) 0.00 0.05 -2.67

Growth

14 metrics
MetricOPIAREVNO
Revenue growth (1Y) -9.7% -9.9% 1.6%
Revenue CAGR (3Y) – -0.5% 0.5%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – – –
Operating income CAGR (3Y) – – –
Net income growth (1Y) -262.9% -339.2% -102.5%
Net income CAGR (3Y) -367.3% -74.6% 60.0%
EPS growth (1Y) -254.7% -239.7% -106.7%
EPS CAGR (3Y) -308.9% -100.7% 48.0%
Operating cash flow growth (1Y) -1,078% -13.7% -69.0%
Operating cash flow CAGR (3Y) -39.4% -9.5% -15.4%
Free cash flow growth (1Y) -111.9% 33.5% -126.6%
Free cash flow CAGR (3Y) -25.2% 43.5% -1.0%

Profitability

14 metrics
MetricOPIAREVNO
Gross margin – – –
EBITDA margin -163.5% – 51.3%
Operating margin – – –
Pretax margin -253.2% – -0.2%
Net margin -253.1% -52.0% -2.9%
FCF margin -38.0% -17.1% -9.2%
Operating cash flow margin -28.9% 43.0% 22.2%
Return on equity -163.9% -6.6% -0.4%
Return on assets -36.6% -3.6% -0.2%
Return on invested capital -44.8% – 2.6%
Return on capital employed – – –
Asset turnover 0.1x 0.1x 0.1x
Cash conversion (OCF / net income) 0.1x -0.9x -17.1x
Stock comp / revenue – 1.5% 1.3%

Financial Health

11 metrics
MetricOPIAREVNO
Debt / assets 71.2% 37.9% 47.6%
Debt / equity 3.3x 0.7x 1.2x
Net debt / EBITDA -2.4x – 7.3x
Debt / FCF -10.5x -27.3x -43.7x
Liabilities / assets 78.2% 45.9% 61.5%
Equity / assets 21.8% 54.1% 38.5%
Interest coverage -4.9x – 1.0x
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricOPIAREVNO
Dividend yield – 6.3% 2.0%
Net buyback yield -3.7% – 2.7%
Shareholder yield -3.7% 6.3% 4.8%
Payout ratio (earnings) – -43.0% –
Payout ratio (FCF) – -126.5% –
Dividend growth (1Y) – -34.4% –
Dividend CAGR (3Y) – -10.2% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusOPIAREVNO
Forward P/E – 29.5xFY2026 –
EPS, next fiscal year – $1.56FY2026 $-0.40FY2026
EPS growth, next FY – – -109.5%FY2026
EPS growth, the year after – -150.6% –
Revenue, next fiscal year – $2.71BFY2026 $1.78BFY2026
Revenue growth, next FY – -8.2%FY2026 -1.9%FY2026
Revenue growth, the year after – -13.7% +24.9%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersOPIAREVNO
Held by institutions 86.0% 97.2% 99.2%
Institutions holding 36 597 434
Change in shares held, QoQ – +14.1% +14.6%
Institutions buying 36 336 233
Institutions selling 0 192 126
Buyers to sellers – 1.75 1.85

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

OPIAREVNO
OPI 1.00 0.02 0.10
ARE 0.02 1.00 0.49
VNO 0.10 0.49 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, OPI, ARE and VNO?

Alexandria Real Estate Equities (ARE) is the largest by market capitalisation: Office Properties Income Trust (OPI) $948.64M, Alexandria Real Estate Equities (ARE) $8.01B, Vornado Realty Trust (VNO) $6.78B.

Which company is growing faster?

Vornado Realty Trust (VNO) grew revenue fastest over the trailing twelve months: Office Properties Income Trust (OPI) -9.7%, Alexandria Real Estate Equities (ARE) -9.9%, Vornado Realty Trust (VNO) +1.6%.

Which company is more profitable?

Vornado Realty Trust (VNO) has the highest net margin (Office Properties Income Trust (OPI) -253.1%, Alexandria Real Estate Equities (ARE) -52.0%, Vornado Realty Trust (VNO) -2.9%). On return on invested capital, Vornado Realty Trust (VNO) leads (Office Properties Income Trust (OPI) -44.8%, Vornado Realty Trust (VNO) 2.6%).

Which stock has performed better?

Over the past year Vornado Realty Trust (VNO) returned the most: Alexandria Real Estate Equities (ARE) -14.8%, Vornado Realty Trust (VNO) +1.2%. Over five years, Vornado Realty Trust (VNO) compounded fastest (Alexandria Real Estate Equities (ARE) -25.9%/yr, Vornado Realty Trust (VNO) -4.0%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Alexandria Real Estate Equities (ARE) has the highest dividend yield: Office Properties Income Trust (OPI) 0.00%, Alexandria Real Estate Equities (ARE) 6.26%, Vornado Realty Trust (VNO) 2.04%. Office Properties Income Trust (OPI) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Vornado Realty Trust (VNO) has been the steadiest (Office Properties Income Trust (OPI) 125.9%, Alexandria Real Estate Equities (ARE) 45.7%, Vornado Realty Trust (VNO) 33.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, OPI, ARE and VNO?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Vornado Realty Trust (VNO) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.