Time to Buy REITs? Vornado Cuts Its Dividend - Here's Why!

Vornado Realty Trust announced they were suspending their quarterly dividend over the next three quarters and authorized up to $200 million in stock buybacks. Vornado stock, VNO, was down as much as 13% but closed almost unchanged. Is it time to buy REITs like Vornado or even REIT ETFs like Black Rock's IYR or Vanguard's VNQ? There might be a lot more problems coming in Commercial Real Estate with $2.5 Trillion in mortgages that need to be refinanced in the next five years while office space has large vacancies because workers do not want to return to the office.
I look at IYR and VNQ ETFs and see what REITs they are holding.

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