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

41.46

Mkt cap

7.7B

Volume

2.2M

High

41.59

P/E Ratio

-145.04

52-wk high

46.63

Low

39.89

Div yield

0.01

52-wk low

21.16

In the last quarter, Vornado Realty (NYSE:VNO) received 3 indifferent, 1 somewhat bearish, and 2 bearish ratings from analysts. The company's average 12-month price target is $21.83, which has increased by 16.12% over the past month.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 3:00 pm

Goldman Sachs analyst Caitlin Burrows maintains a Sell rating on Vornado Realty (NYSE:VNO) and raises the price target from $18 to $20.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 2:54 pm

Shares of REITs are trading higher amid a decline in US Treasury yields, which has lifted dividend-paying stocks in Friday's session.

Portfolio Pulse from Benzinga Newsdesk

November 03, 2023 | 7:36 pm

Piper Sandler analyst Alexander Goldfarb maintains an Underweight rating on Vornado Realty (NYSE:VNO) and has lowered the price target from $17 to $16.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 4:44 pm

A contraction in lending is leading to a rise in defaults across the commercial real estate (CRE) sector and a slowdown in new construction projects. Lenders are cutting back their exposure due to the Federal Reserve’s interest rate hikes. Commercial property construction starts are predicted to fall by 17% in 2023. The total volume of CRE loans held by banks fell in the first two weeks of October. The lending squeeze has affected office owners refinancing maturing loans at higher rates and other commercial borrowers in the apartment building and warehouse sectors. The VanEck Office and Commercial REIT ETF (NYSE:DESK), Vornado Realty Trust (NYSE:VNO), SL Green Realty Corp. (NYSE:SLG), and Boston Properties, Inc. (NYSE:BXP) saw their values tumble in October.

Portfolio Pulse from Piero Cingari

October 31, 2023 | 3:29 pm

Vornado Realty (NYSE:VNO) reported Q3 Adjusted FFO of $0.66 per share, a decrease of 18.52% from the same period last year. The company's quarterly sales were $450.995 million, missing the analyst consensus estimate of $451.46 million by 0.10% and marking a 1.41% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 8:31 pm

US stocks are expected to bounce back from oversold levels as more earnings and the Federal Reserve’s rate decision are anticipated. The Fed is likely to maintain the status quo, with a 98.6% probability. Key earnings reports from Apple, Qualcomm, and Advanced Micro Devices are expected to take center stage. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF rose in premarket trading. Stellantis and General Motors rose in premarket trading after reaching tentative deals with the United Auto Workers union.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 11:22 am

The third-quarter earnings season has been mixed, with some high-profile companies like Meta Platforms and Alphabet disappointing investors, while others like Microsoft and Amazon have calmed nerves with positive results. Energy giants Exxon Mobil and Chevron reported below-consensus earnings, dragging down the profit growth of S&P 500 companies. This week, tech companies like Apple, AMD, and Qualcomm are set to release their earnings, which could influence the near-term trajectory of the equity market. The market is also awaiting the Fed decision due Wednesday.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 7:40 am

Vornado Realty (NYSE:VNO) is set to release its latest quarterly earnings report on October 30, 2023. Analysts estimate an earnings per share (EPS) of $0.66. The company's past performance shows a mix of EPS beats and misses, with the stock price generally negatively affected. The stock is currently trading at $19.7, down 17.42% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

October 27, 2023 | 8:01 pm

Real estate stocks, tracked by the Real Estate Select Sector SPDR Fund (NYSE:XLRE), fell by over 1% on Thursday, ending a six-day winning streak. This was due to higher inflation rates and a surge in mortgage rates to 23-year highs. Office REITs were the hardest hit, with Hudson Pacific Properties Inc. (NYSE:HPP), Paramount Group Inc. (NYSE:PGRE), Douglas Emmett, Inc. (NYSE:DEI), and Vornado Realty Trust (NYSE:VNO) experiencing significant declines. Other real estate companies such as Alexandria Real Estate Equities, Inc. (NYSE:ARE), Prologis Inc. (NYSE:PLD), CBRE Group Inc. (NYSE:CBRE), and Boston Properties, Inc. (NYSE:BXP) also saw declines.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 9:13 pm

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