Please ensure Javascript is enabled for purposes of website accessibility

Vornado Buys 1.2 stake in McDonald’s

The REIT’s investment in the fast-food firm totals about $500 million.Paramus-based Vornado Realty Trust (NYSE: VNO) Tuesday announced it is buying a 1.2% stake in McDonald”s. In a Securities and Exchange Commission filing, Vornado said it had acquired 858,000 McDonald”s shares for $25,346,000 in July. During the three months ended September 30 it bought another 14,565,000 shares. The investment totaled about $500 million. The company, a real estate investment trust, declined to offer additional comments.

The company reported net income of $27.2 million on revenue of $656.96 million for the third quarter against income of $104.5 million on revenue of $415.3 million for the year-ago period.

Vornado’s shares were down $1.30 to $79.70 in morning trading.

NJBIZ Business Events

2022 NJBIZ Panel Discussion: Cybersecurity

Tuesday, February 22, 2022
2022 NJBIZ Panel Discussion: Cybersecurity

NJBIZ Digi-Tech Innovator Awards 2022

Thursday, March 31, 2022
NJBIZ Digi-Tech Innovator Awards 2022

NJBIZ Leaders in Finance 2022

Wednesday, April 27, 2022
NJBIZ Leaders in Finance 2022

NJBIZ Leaders in Law 2022

Wednesday, May 25, 2022
NJBIZ Leaders in Law 2022