V
ornado Realty Trust shareholders may be eagerly awaiting the departure of CEO Steven Roth, who shows no signs of slowing down at 83 years old. According to JPMorgan real estate analyst Anthony Paolone, Roth's retirement could lead to a boost in the company's stock price. Paolone believes that succession planning and the future direction of the company are key factors influencing its stock performance.

    While Vornado's board initiated a "management success process" in 2019, Roth remains tight-lipped about his plans for stepping down. Company president Michael Franco is widely seen as the likely successor. However, Paolone notes that other concerns weigh on the company, including structural headwinds from work-from-home policies and high debt levels.

    To improve investor sentiment, Paolone suggests that Vornado focus on improved leasing, redevelopment around Penn Station, and potential sales. The company's stock price has been volatile, opening at $41.07 after a 38% decline over the past five years but a 54% increase in the last year. In 2023, Vornado suspended its dividend for part of the year, and its stock was removed from the S&P 500 two years ago.