ARE vs VNO

For growth investors, Vornado Realty Trust (VNO) is the stronger pick with 1.

3% revenue growth year-over-year, versus -2. 6% for Alexandria Real Estate Equities, Inc. (ARE). Vornado Realty Trust (VNO) offers the better valuation at 7. 6x trailing P/E (376. 9x forward), making it the more compelling value choice. Analysts rate Alexandria Real Estate Equities, Inc. (ARE) a "Hold" — based on 24 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On forward P/E, Alexandria Real Estate Equities, Inc.

is actually cheaper at 78. 8x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Vornado Realty Trust (VNO) delivered a total return of -17.

6%, compared to -61. 1% for Alexandria Real Estate Equities, Inc. (ARE). Over 10 years, the gap is even starker: ARE returned -8. 6% versus VNO's -34. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Alexandria Real Estate Equities, Inc.

(ARE) is the lower-risk stock at 0. 95β versus Vornado Realty Trust's 1. 19β — meaning VNO is approximately 25% more volatile than ARE relative to the S&P 500. On balance sheet safety, Alexandria Real Estate Equities, Inc. (ARE) carries a lower debt/equity ratio of 67% versus 116% for Vornado Realty Trust — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Vornado Realty Trust (VNO) is pulling ahead at 1.

3% versus -2. 6% for Alexandria Real Estate Equities, Inc. (ARE). On earnings-per-share growth, the picture is similar: Vornado Realty Trust grew EPS 104. 0% year-over-year, compared to -568. 9% for Alexandria Real Estate Equities, Inc.. Over a 3-year CAGR, ARE leads at 4. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Vornado Realty Trust (VNO) is the more profitable company, earning 50.

0% net margin versus -48. 2% for Alexandria Real Estate Equities, Inc. — meaning it keeps 50. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VNO leads at 15. 0% versus -40. 5% for ARE. At the gross margin level — before operating expenses — VNO leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Alexandria Real Estate Equities, Inc.

(ARE) trades at 78. 8x forward P/E versus 376. 9x for Vornado Realty Trust — 298. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ARE: 20. 7% to $55. 00.

All stocks in this comparison pay dividends.

Alexandria Real Estate Equities, Inc. (ARE) offers the highest yield at 11. 7%, versus 2. 3% for Vornado Realty Trust (VNO).

For long-horizon retirement investors, Alexandria Real Estate Equities, Inc.

(ARE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 95), 11. 7% yield). Both have compounded well over 10 years (ARE: -8. 6%, VNO: -34. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: ARE is a small-cap income-oriented stock; VNO is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.