Streetbeat News

VNO

Vornado Realty Trust

https://www.vno.com

Industry

REIT - Office

Vornado's portfolio is concentrated in the nation's key market "New York City" along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019. In 2012, Vornado commemorated 50 years on the NYSE.

Open

44.90

Mkt cap

8.7B

Volume

1.1M

High

45.90

P/E Ratio

-163.43

52-wk high

45.90

Low

44.73

Div yield

0.01

52-wk low

19.63

Vornado Realty (NYSE:VNO) reported Q2 2024 earnings per share (EPS) of $0.57, beating the analyst estimate of $0.54. Sales were $450.266 million, also surpassing the estimate of $439.277 million. However, both EPS and sales were down compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 8:27 pm

The anticipation of Federal Reserve rate cuts has led to a significant drop in mortgage rates, reaching a four-month low. This has spurred a surge in new mortgage applications and refinancing demand. Real estate ETFs and stocks have reacted positively to the news.

Portfolio Pulse from Piero Cingari

July 17, 2024 | 2:01 pm

A lower-than-expected inflation report for May has driven Wall Street to record highs, with significant gains in tech, real estate, and small caps ahead of the Federal Reserve meeting. The Nasdaq 100, S&P 500, and iShares Russell 2000 ETF (IWM) saw notable increases. Treasury yields fell, boosting the iShares 20+ Year Treasury Bond ETF (TLT). Sector-specific ETFs like SPDR S&P Homebuilders ETF (XHB) and SPDR S&P Regional Banking ETF (KRE) also surged. Key stock movers included Apple (AAPL), Tesla (TSLA), and several real estate and regional bank stocks.

Portfolio Pulse from Piero Cingari

June 12, 2024 | 5:26 pm

Shares of REIT stocks are trading higher due to a drop in Treasury yields following soft May CPI figures.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 5:02 pm

BMO Capital analyst John Kim maintains a Market Perform rating on Vornado Realty (NYSE:VNO) but lowers the price target from $31 to $29.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 2:35 pm

Casey's General Stores, Inc. (CASY) reported better-than-expected earnings and increased its dividend, leading to a 16.5% rise in its stock price. Other notable stock movements include Avidity Biosciences, Inc. (RNA) surging 27% due to positive trial data, and Rentokil Initial plc (RTO) jumping 15.5% following a report of Trian's stake. Affirm Holdings, Inc. (AFRM), Zillow Group, Inc. (ZG), and Oracle Corporation (ORCL) also saw significant gains.

Portfolio Pulse from Avi Kapoor

June 12, 2024 | 2:15 pm

New York Governor Kathy Hochul has indefinitely paused NYC's congestion pricing plan, which would have charged $15 for entering Manhattan. The decision impacts truckers, rideshare apps like Uber and Lyft, and real estate owners like Blackstone and Vornado Realty Trust.

Portfolio Pulse from Hayden Buckfire

June 06, 2024 | 3:59 pm

Barclays analyst Ross Smotrich maintains an Underweight rating on Vornado Realty (NYSE:VNO) and lowers the price target from $22 to $21.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 3:13 pm

Scotiabank analyst Nicholas Yulico maintains a Sector Perform rating on Vornado Realty (NYSE:VNO) but lowers the price target from $24 to $23.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 2:11 pm

Analysts have mixed views on Vornado Realty (NYSE:VNO), with recent ratings ranging from bearish to neutral. The average 12-month price target is now $24.67, down from $26.50. Vornado faces revenue challenges, with a -2.14% growth over 3 months, but has strong net margins and ROE. The company's debt-to-equity ratio is high at 2.06, indicating potential financial risks.

Portfolio Pulse from Benzinga Insights

May 13, 2024 | 2:00 pm

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