Short interest for Vornado Realty gives investors a sense of the degree to which investors are betting on the decline of Vornado Realty's stock. Short interest data is updated every two weeks.

Vornado Realty Stock (NYSE:VNO), Short Interest Report

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Vornado owns and has an ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.

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Real estate stocks drop due to poor housing data and high mortgage rates, with concerns for sector&#39;s future. Rates highest since December 2023.

Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: &#39;Inflation Is Proving Tougher To Bring Down&#39;

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Viper Energy, Inc. - Class A Common Stock

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VORNADO RLTY TR 6.50 A PR by Vornado Realty Trust

Vornado Realty Trust 5.25% Series M Cumulative Redeemable Preferred Shares of Beneficial Interest, liquidation preference $25.00 per share, no par value per share

Vornado Realty Trust 5.25% Series N Cumulative Redeemable Preferred Shares of Beneficial Interest, liquidation preference $25.00 per share

Vornado Realty Trust 4.45% Series O Cumulative Redeemable Preferred Shares, Liquidation Preference $25.00 Per Share

Real estate stocks slid at Wednesday&#8217;s market open, weighed down by the latest disappointing data on housing starts and a spike in mortgage rates, darkening the <a href="https://www.benzinga.com/real-estate">outlook for the sector.</a>
By 9:00 a.m. EST, the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) had dropped by 0.3%. This marked its fourth consecutive day of losses and set a course for its lowest close since the end of November 2023. 
The fund has also slipped below its 200-day moving average, a critical long-term benchmark, signaling that investor sentiment has turned negative.
The average interest rate for 30-year fixed-rate mortgages with loan balances up to $766,550 climbed by 12 basis points to 7.13% for the week ending Apr. 12, 2024, according to the latest figures from the Mortgage Bankers Association. This rate is the highest recorded since early December.
On Wednesday, the yield on a 30-year Treasury bond, a key benchmark for long-term mortgage rates, traded at 4.75%, at the highest since mid-November 2023, as Fed Chair Powell admitted that there has been a lack of progress in the disinflation trend. 
Read also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38278182/powell-delays-fed-rate-cuts-we-need-greater-confidence-in-inflation-2-year-yields-spik">Powell Delays Fed Rate Cuts, Says &#8216;We Need Greater Confidence In Inflation&#8217;: 2-Year Yields Spike To 5%</a>
Chart: Real Estate Stocks Fall Below Key Long-Term Moving Average As Inflation Bites Again
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-1024x495.png" alt="" class="wp-image-296075" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17102612/image-116.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Weaknesses In Multifamily Segment Continue</h3>
Joel Kan, MBA's Vice President and Deputy Chief Economist, explained the rise in rates, stating, &#8220;Rates increased for the second consecutive week, driven by incoming data indicating that the economy remains strong and inflation is proving tougher to bring down.&#8221;
Despite the uptick in mortgage rates, there was a 3.3% week-over-week increase in the Market Composite Index, which measures mortgage loan application volume.
Kan further noted, &#8220;Application activity picked up, possibly as some borrowers decided to act in case rates continue to rise. Purchase applications were the primary driver of this increase, although they are still about 10% lower than last year's levels. There was a slight uptick in refinance applications, mainly due to a 3% rise in conventional applications.&#8221;
Chart: US 30-Year Mortgage Rates Rose To The Highest Level Since Late November 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="495" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-1024x495.png" alt="" class="wp-image-296087" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-1024x495.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-300x145.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-768x372.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117-1536x743.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/17103028/image-117.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
The real estate market&#8217;s challenges are linked to affordability and a shrinking availability as the supply of new homes falls. 
Andrew Foran, an economist at Toronto Dominion Securities, commented on the trend in home building, &#8220;Homebuilding activity moderated in March as weakness in the multifamily segment persisted and the single-family segment gave back most of its considerable gain from the prior month.&#8221;
Data revealed a 14.7% month-over-month decline in housing starts in March, with the figures dropping to 1.32 million annualized units, significantly below the anticipated 1.49 million.
Both the single-family and multifamily sectors experienced declines, with single-family starts down by 12.4% (or 145,000 units) and multifamily starts plummeting by 21.7% (or 83,000 units). This retreat in multifamily starts marked the lowest level since April 2020.
Additionally, residential permits decreased more than expected in March, falling by 4.3% month-over-month to 1.46 million annualized units. This included a 5.7% drop in single-family permits—the first decline in fifteen months—and a 1.2% reduction in multifamily permits.
<h3 class="wp-block-heading">Rising &amp; Falling</h3>
The weakest performers among real estate stocks with a market cap of at least $1 billion on Wednesday were:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>Prologis, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>)</td>
<td>-6.55%</td>
</tr>
<tr>
<td>First Industrial Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FR#NYSE">FR</a>)</td>
<td>-3.33%</td>
</tr>
<tr>
<td>STAG Industrial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STAG#NYSE">STAG</a>)</td>
<td>-2.89%</td>
</tr>
<tr>
<td>EastGroup Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>)</td>
<td>-2.89%</td>
</tr>
<tr>
<td>Rexford Industrial Realty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>)</td>
<td>-2.35%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 09:20 a.m. EDT </figcaption></figure>
Those showing the highest gains were: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Name</th>
<th>1-day %chg</th>
</tr>
</thead>
<tbody>
<tr>
<td>SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>)</td>
<td>3.18%</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>2.55%</td>
</tr>
<tr>
<td>Medical Properties Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>)</td>
<td>2.49%</td>
</tr>
<tr>
<td>eXp World Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NYSE">EXPI</a>)</td>
<td>2.32%</td>
</tr>
<tr>
<td>Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) </td>
<td>2.25%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 09:20 a.m. EDT </figcaption></figure>
Now Read: <a href="https://www.benzinga.com/money/best-reits">Best REITs to Buy in April</a>
Image: Midjourney

Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: 'Inflation Is Proving Tougher To Bring Down'

News

Sl Green Realty And Vornado Realty Trust Modified And Extended The $125.0M Mezzanine Loan On 280 Park Avenue And Subsequently Repaid The Loan For $62.5M

The March consumer price index was another splash of cold water on investors' hopes that the Federal Reserve would be able to cut interest rates three times in 2024. When inflation numbers came in higher than expected for both core and noncore readings, it signaled that the Fed may have difficulty fulfilling its goal to reduce inflation to 2% annually.
As a result, stocks sold off and interest-sensitive real estate investment trusts (REITs) were hit hard. The dividend yields on many REITs have risen over the past few days.
In a best-of-both-worlds scenario, REIT investors would hold stocks that provide both appreciation and high-yield income. However, it's often difficult to find high-yielding stocks that aren't price laggards.
Take a look at five REITs that have demonstrated appreciation year to date (YTD) and have annual dividend yields between 7% and 9%. In addition, these five have diversification among several different REIT subsectors. Long-term investors can take advantage of present market sentiment to build a basket of these REITs while interest rates are still high.
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NewLake Capital Partners Inc. (OTCMARKETS: NLCP) is a New Canaan, Connecticut-based internally managed specialized industrial REIT with 31 properties totaling 1.7 million square feet across 12 states. NewLake Capital Partners specializes in triple-net leases to cannabis companies and provides capital to them when necessary. Its market cap is only $369.06 million.
NewLake was founded in 2019 and had its initial public offering (IPO) in August 2021. Its tenants include the largest companies in the cannabis industry, such as Curaleaf, Cresco Labs Inc. and Truelieve. As of March, it had a 100% occupancy rate with an average of 14.3 years remaining on its lease terms and 2.6% annual rent escalations on 15- to 20-year lease terms. &nbsp;&nbsp;
On March 14, Compass Point analyst Merrill Ross upgraded NewLake from Neutral to Buy and announced an $18.25 price target.&nbsp;
On March 11, NewLake announced its fourth-quarter operating results. Funds from operations (FFO) of $0.51 beat the estimates of $0.45 and its FFO of $0.48 in the fourth quarter of 2022. Revenue of $13.02 million beat the Wall Street estimate of $11.41 million and topped fourth-quarter 2022 revenue of $12.18 million.
On March 11, NewLake Capital Partners raised its quarterly dividend from $0.40 per share to $0.41 per share. The $1.64 annualized dividend per share yields 8.93%.
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On April 2, the Florida Supreme Court approved an initiative to legalize recreational marijuana in Florida through a referendum on the November ballot. This should benefit NewLake, as it has one property leased to Curaleaf Holdings in Florida and has several other tenants with Florida locations.&nbsp;&nbsp;&nbsp;
Year to date, NewLake Capital Partners has had a total return of 16.03%. Keep in mind that as an over-the-counter (OTC) stock with an average daily volume of about 32,000 shares, it can be quite volatile.
Omega Healthcare Investors Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OHI#NYSE">OHI</a>) is a Hunt Valley, Maryland-based triple-net equity healthcare REIT that provides financing, capital and leasing to 69 operators of 862 senior housing, skilled nursing and assisted living facilities across 42 U.S. states and the United Kingdom. Omega Healthcare Investors has no part in the daily management of these facilities, which the operators run.
On March 22, Citigroup analyst Nicholas Joseph upgraded Omega Healthcare from Neutral to Buy and raised the price target from $32 to $35. On April 2, Truist Securities analyst Michael Lewis maintained a Hold on Omega and raised the price target from $31 to $32.
Omega has a total return of 1.62% YTD. The annualized dividend of $2.68 per share yields 8.73%.
Alexander's Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALX#NYSE">ALX</a>) is a Paramus, New Jersey-based, mixed retail REIT that's externally managed by Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>), which also owns 33.1% of Alexander's stock. Alexanders has five large properties in the New York City metropolitan area.
On Feb. 12, Alexander's reported its fourth-quarter operating results. FFO of $4.99 was ahead of FFO of $4.03 in the fourth quarter of 2022. Revenue of $62.94 million topped $53.05 million in the fourth quarter of 2022.&nbsp;
Alexander's $18 per share annualized dividend yields 8.06%. Year to date, Alexander's has had a total return of 5.38%.
Highwoods Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) is a Raleigh, North Carolina-based office REIT that owns, develops, acquires, leases and manages properties in the Southern cities of Atlanta; Charlotte and Raleigh, North Carolina; Dallas, Nashville, Tennessee; Orlando and Tampa, Florida; and Richmond, Virginia. It was founded in 1978 and had its IPO in 1994.
Highwoods owns 28.4 million square feet of office space. As of Dec. 31, its occupancy rate was 88.9%. Highwoods' tenant base is well diversified by industries, and its top 10 tenants include Bank of America Corp., the federal government, MetLife Inc., Bridgestone Americas Inc. and PPG Industries Inc. It also owns about 120 acres of land.
On Feb. 7, Highwoods Properties reported its fourth-quarter operating results. FFO of $0.99 per share trounced analyst estimates of $0.91 per share and was above FFO of $0.96 in the fourth quarter of 2022. Revenue of $206.86 million was slightly below the Street estimate of $207.83 million and declined from $211.71 million in the fourth quarter of 2022.&nbsp;
On March 28, Morgan Stanley analyst Ronald Kamdem maintained Highwoods Properties with an Underweight rating and raised the price target from $18 to $21.&nbsp;
On April 4, Highwoods announced it sold nine office buildings for gross proceeds of $79.4 million that will be used to reduce outstanding debt on its revolving credit facility.&nbsp;
Highwoods' annualized dividend of $2 per share yields 7.96%. Highwoods Properties' total return YTD is 9.82%.&nbsp;
Modiv Industrial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDV#NYSE">MDV</a>) is a Reno, Nevada-based, internally managed diversified REIT with 42 single-tenant net-lease properties totaling 4.5 million square feet across 15 states. It has 39 industrial, four office and one retail property in a portfolio of about 30 tenants. Modiv Industrial was founded in 2015 and had its IPO date in February 2022.&nbsp;
Its portfolio has an excellent weighted average lease term (WALT) of 14 years and includes average annual rental increases of 2.5%. It has a 100% occupancy rate. Over the past year, Modiv has disposed of noncore office properties to focus more on an industrial portfolio.
On March 4, Modiv reported its fourth-quarter operating results. FFO of $0.40 per share beat the Street estimate of $0.38 per share. Revenue of $12.29 million just missed estimates of $12.14 million.&nbsp;
Modiv's annualized $1.15 dividend per share yields 7.27%. Its total return YTD is 17.23%.
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Shares of REITs are trading lower as Treasury yields rise following hotter-than-expected March inflation data.

With interest rates remaining at their highest levels in over two decades, and with U.S. Treasury bonds comfortably exceeding a 4% yield, an increasing number of investors are turning their attention to the <a href="https://www.benzinga.com/money/how-to-buy-corporate-bonds">realm of corporate bonds. </a>
In this landscape, they seek not only promising yield opportunities but also the strategic advantage of diversifying away from equity investments.
The Financial Times recently reported that inflows into corporate bond funds have surged to $22.8 billion in 2024, marking the first positive start to a year since 2019. 
<h3 class="wp-block-heading">Corporate Bonds: Investment Grade Vs. High Yield</h3>
Corporate bonds come in two main types: investment-grade and high-yield. Investment-grade bonds are issued by financially stable companies, while high-yield (or speculative grade) bonds come from riskier firms but offer higher returns.
Rating agencies like S&amp;P, Fitch and Moody&#8217;s determine which category a bond falls into based on the issuer&#8217;s ability to repay debts. Ratings range from AAA (very safe) to D (in default).
For example, companies like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Eli Lilly Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) and Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) are rated as investment grade. 
Conversely, firms like AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>), Office Property Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>) and Navient Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) belong to the speculative-grade world. 
Read also: <a href="https://www.benzinga.com/news/large-cap/24/04/38098774/top-10-us-high-yield-corporate-bonds-with-returns-over-20-in-april-2024">Top 10 US High-Yield Corporate Bonds With Returns Over 20% In April 2024</a>
<h3 class="wp-block-heading">Comparison of Investment Grade And High Yield Bond Ratings</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Rating</th>
<th>Status</th>
</tr>
</thead>
<tbody>
<tr>
<td>AAA</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>AA+</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>AA</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>AA-</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>A+</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>A</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>A-</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BBB+</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BBB</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BBB-</td>
<td>Investment Grade</td>
</tr>
<tr>
<td>BB+</td>
<td>High Yield</td>
</tr>
<tr>
<td>BB</td>
<td>High Yield</td>
</tr>
<tr>
<td>BB-</td>
<td>High Yield</td>
</tr>
<tr>
<td>B+</td>
<td>High Yield</td>
</tr>
<tr>
<td>B</td>
<td>High Yield</td>
</tr>
<tr>
<td>B-</td>
<td>High Yield</td>
</tr>
<tr>
<td>CCC+</td>
<td>High Yield</td>
</tr>
<tr>
<td>CCC</td>
<td>High Yield</td>
</tr>
<tr>
<td>CCC-</td>
<td>High Yield</td>
</tr>
<tr>
<td>CC</td>
<td>High Yield</td>
</tr>
<tr>
<td>C</td>
<td>High Yield</td>
</tr>
<tr>
<td>D</td>
<td>In Default</td>
</tr>
</tbody>
</table>
</figure>
The cutoff between investment-grade and high-yield is at the BB+ rating. Anything below BB+ is considered high yield, while BBB- or higher is investment-grade.
In general, the riskier the bond, the higher the potential return. Investment-grade bonds tend to offer lower yields because they are safer bets, with stronger financial health and better chances of repayment.
However, even within the realm of investment-grade bonds, there are opportunities to find attractive yields from companies with solid fundamentals. 
This allows investors to earn better returns without taking on excessive risk, compared to investing solely in ultra-safe U.S. Treasuries.
<h3 class="wp-block-heading">Highest Yielding Investment-Grade Corporate Bonds As Of April 2024</h3>
Benzinga used the Public.com bond screener to discover which investment-grade corporate bonds offer the best yield as of April 2024.
Below are the top 10 investment-grade corporate bonds with the highest yields:
<ol>
<li>PSEC 3.0% 05/15/2026
<ul>
<li>Issuer: Prospect Capital Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSEC#NASDAQ">PSEC</a>)</li>
<li>Yield: 8.16%</li>
<li>Coupon: 3%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $88.62</li>
<li>Maturity: 05/15/2026</li>
</ul>
</li>
<li>PDM 2.75% 04/01/2032
<ul>
<li>Issuer: Piedmont Office Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDM#NYSE">PDM</a>) </li>
<li>Yield: 7.75%</li>
<li>Coupon: 2.75%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $70.66</li>
<li>Maturity: 04/01/2032</li>
</ul>
</li>
<li>SNX 1.25% 08/09/2024
<ul>
<li>Issuer: Td Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>)</li>
<li>Yield: 7.59%</li>
<li>Coupon: 1.25%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $97.94</li>
<li>Maturity: 08/09/2024</li>
</ul>
</li>
<li>CHTR 5.875% 11/15/2040
<ul>
<li>Issuer: Spectrum Management Holding Company Llc, owned by Charter Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>)</li>
<li>Yield: 7.41%</li>
<li>Coupon: 5.875%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $85.47</li>
<li>Maturity: 11/15/2040</li>
</ul>
</li>
<li>VNO 3.4% 06/01/2031
<ul>
<li>Issuer: Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>)</li>
<li>Yield: 7.32%</li>
<li>Coupon: 3.4%</li>
<li>Price: $78.49</li>
<li>Maturity: 06/01/2031</li>
</ul>
</li>
<li>F 7.7% 05/15/2097
<ul>
<li>Issuer: Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>)</li>
<li>Yield: 7.27%</li>
<li>Coupon: 7.7%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $105.88</li>
<li>Maturity: 05/15/2097</li>
</ul>
</li>
<li>BAYG 5.875% 04/15/2038
<ul>
<li>Issuer: Monsanto Co., owned by Bayer A.G. (OTCPK: BAYRY)</li>
<li>Yield: 7.17%</li>
<li>Coupon: 5.875%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $88.66</li>
<li>Maturity: 04/15/2038</li>
</ul>
</li>
<li>VICI 4.5% 09/01/2026
<ul>
<li>Issuer: Vici Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>)</li>
<li>Yield: 7.17%</li>
<li>Coupon: 4.5%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $94.27</li>
<li>Maturity: 09/01/2026</li>
</ul>
</li>
<li>ALLY 6.9% 02/15/2034
<ul>
<li>Issuer: Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>)</li>
<li>Yield: 7.08%</li>
<li>Coupon: 6.9%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $98.75</li>
<li>Maturity: 02/15/2034</li>
</ul>
</li>
<li>CNXC 6.85% 08/02/2033
<ul>
<li>Issuer: Concentrix Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNXC#NASDAQ">CNXC</a>)</li>
<li>Yield: 7.04%</li>
<li>Coupon: 6.85%</li>
<li>Coupon Frequency: Semi-annually</li>
<li>Price: $98.73</li>
<li>Maturity: 08/02/2033</li>
</ul>
</li>
</ol>
Read now: <a href="https://www.benzinga.com/fintech/24/04/38110804/top-10-us-corporate-bonds-by-market-performance-in-2024-april-update">Top 10 US Corporate Bonds By Market Performance In 2024: April Update</a>
Image generated using artificial intelligence with Midjourney.

Offerings

Vornado Realty Trust Filed For Mixed Shelf Offering; Size Not Disclosed

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Keybanc boosted the price target for Robinhood Markets, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hood#NASDAQ">HOOD</a>) from $15 to $22. Keybanc analyst Josh Beck maintained an Overweight rating. Robinhood shares gained 3.8% to close at $20.01 on Wednesday. <a href="https://www.benzinga.com/quote/HOOD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Macquarie increased the price target for Carnival Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>) from $22 to $24. Macquarie analyst Paul Golding maintained an Outperform rating. Carnival shares gained 0.9% to close at $17.19 on Wednesday. <a href="https://www.benzinga.com/quote/CCL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HSBC increased Citigroup Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) price target from $61 to $70. HSBC analyst Saul Martinez maintained a Buy rating. Citigroup shares rose 1.8% to close at $62.75 on Wednesday. <a href="https://www.benzinga.com/quote/C/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HSBC boosted the price target for The Goldman Sachs Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gs#NYSE">GS</a>) from $432 to $460. HSBC analyst Saul Martinez maintained a Buy rating. Goldman Sachs shares rose 2.2% to close at $415.25 on Wednesday. <a href="https://www.benzinga.com/quote/GS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities raised The Est&eacute;e Lauder Companies Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/el#NYSE">EL</a>) price target from $160 to $170. B of A Securities analyst Bryan Spillane upgraded the stock from Neutral to Buy. Est&eacute;e Lauder shares gained 4.1% to close at $145.04 on Wednesday. <a href="https://www.benzinga.com/quote/EL/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods boosted the price target for KB Home (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbh#NYSE">KBH</a>) from $67 to $77. Keefe, Bruyette &amp; Woods analyst Jade Rahmani maintained a Market Perform rating. KB Home shares gained 2% to close at $69.56 on Wednesday. <a href="https://www.benzinga.com/quote/KBH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>MoffettNathanson increased DraftKings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dkng#NASDAQ">DKNG</a>) price target from $52 to $55. MoffettNathanson analyst Robert Fishman maintained a Buy rating. DraftKings shares fell 6.8% to close at $45.35 on Wednesday. <a href="https://www.benzinga.com/quote/DKNG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Telsey Advisory Group boosted RH (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rh#NYSE">RH</a>) price target from $285 to $335. Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating. RH shares gained 3.7% to close at $296.99 on Wednesday. <a href="https://www.benzinga.com/quote/RH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised Vornado Realty Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vno#NYSE">VNO</a>) price target from $24 to $26. Morgan Stanley analyst Ronald Kamdem upgraded the stock from Underweight to Equal-Weight. Vornado Realty Trust shares rose 4% to close at $27.48 on Wednesday. <a href="https://www.benzinga.com/quote/VNO/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Canaccord Genuity cut Braze, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/brze#NASDAQ">BRZE</a>) price target from $70 to $65. Canaccord Genuity analyst David Hynes maintained a Buy rating. Braze shares gained 2.4% to close at $50.58 on Wednesday. <a href="https://www.benzinga.com/quote/BRZE/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/03/37975718/rh-walgreens-and-3-stocks-to-watch-heading-into-thursday"> RH, Walgreens And 3 Stocks To Watch Heading Into Thursday </a>

Price Target

Markets

Trading Ideas

BRZE

DKNG

HOOD

Robinhood To Rally Around 10%? Here Are 10 Top Analyst Forecasts For Thursday

Across the recent three months, 4 analysts have shared their insights on Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>), expressing a variety of opinions spanning from bullish to bearish.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Vornado Realty, presenting an average target of $24.75, a high estimate of $26.00, and a low estimate of $21.00. Highlighting a 6.6% decrease, the current average has fallen from the previous average price target of $26.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1711627313_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Vornado Realty. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ronald Kamdem</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$26.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Sell</td>
<td>$21.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$26.00</td>
<td>$28.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Vornado Realty. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Vornado Realty compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Vornado Realty's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Vornado Realty's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/VNO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Vornado Realty analyst ratings.</a>
<h2>Discovering Vornado Realty: A Closer Look</h2>
Vornado owns and has an ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.
<h3>Vornado Realty: Delving into Financials</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Challenges: Vornado Realty's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -1.13%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of -13.81%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -1.36%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Vornado Realty's ROA stands out, surpassing industry averages. With an impressive ROA of -0.37%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Vornado Realty's debt-to-equity ratio stands notably higher than the industry average, reaching 2.08. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where Vornado Realty Stands With Analysts

Morgan Stanley analyst Ronald Kamdem upgrades Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) from Underweight to Equal-Weight and raises the price target from $24 to $26.

Upgrades

Morgan Stanley Upgrades Vornado Realty to Equal-Weight, Raises Price Target to $26

The Federal Reserve&#8217;s indication of upcoming interest rate cuts injected optimism into the real estate sector, particularly benefiting stocks under pressure due to exposure to the office industry <a href="https://www.benzinga.com/real-estate/reit">or elevated debt levels.</a>
<h1 class="wp-block-heading">A Shift Towards Speculation</h1>
Thursday&#8217;s session suggests the rally has been more pronounced among real estate companies with higher debt levels 
This shift may signify a growing investor inclination towards speculative stocks within the real estate sector, banking on the premise that forthcoming rate cuts could provide a much-needed respite for real estate investment trusts (REITs) grappling with significant debt burdens.
The Fed&#8217;s March dot plot hints at three rate cuts in 2024, with a further three anticipated the following year. This strategic direction is coupled with an upgraded growth forecast, from 1.4% to 2.1%, painting a potentially brighter picture for the real estate sector.
<h1 class="wp-block-heading">Market Reactions Among Real Estate ETFs And Stocks</h1>
<ul>
<li>The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) experienced an uplift, marking a 0.8% rise on Wednesday followed by a 0.7% increase on Thursday.</li>
<li>Within the ETF&#8217;s portfolio, stocks of companies heavily indebted or linked to the challenged office sector saw the largest gains.</li>
<li>City Office REIT, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIO#NYSE">CIO</a>) skyrocketed by over 16% on Thursday, a significant rebound after a year-to-date loss exceeding 30%. The company&#8217;s net debt stood at more than six times its EBITDA (earnings before interest, taxes, debt and amortization). </li>
<li>Compass Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) and Office Properties Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>): Both companies enjoyed rallies of over 7%. Office Properties Income Trust&#8217;s net debt surpassed its EBITDA by over eight times. </li>
<li>Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) and Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>): These companies also featured among the top performers for the day, with shares up 7% and 5.5%, respectively. </li>
<li>The VanEck Office And Commercial Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESK#NYSE">DESK</a>) showcased a back-to-back 2.2% rally on Wednesday and Thursday, indicating office-related REITs positively reacted after the Fed meeting. </li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Company Name</td>
<td>1-Day %</td>
<td>Net Debt / EBITDA (FY)</td>
</tr>
<tr>
<td>City Office REIT, Inc.</td>
<td>16.47%</td>
<td>6.8x</td>
</tr>
<tr>
<td>Office Properties Income Trust</td>
<td>8.22%</td>
<td>8.5x</td>
</tr>
<tr>
<td>Compass, Inc.</td>
<td>7.93%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Anywhere Real Estate Inc.</td>
<td>7.10%</td>
<td>8.9x</td>
</tr>
<tr>
<td>DigitalBridge Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBRG#NYSE">DBRG</a>)</td>
<td>6.42%</td>
<td>0.2x</td>
</tr>
<tr>
<td>Vornado Realty Trust</td>
<td>5.47%</td>
<td>9.1x</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>5.37%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>)</td>
<td>4.92%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Zillow Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NYSE">ZG</a>)</td>
<td>4.85%</td>
<td>&#8211;</td>
</tr>
<tr>
<td>Diversified Healthcare Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHC#NYSE">DHC</a>)</td>
<td>4.82%</td>
<td>13.0x</td>
</tr>
<tr>
<td>Douglas Emmett, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>)</td>
<td>4.71%</td>
<td>8.6x</td>
</tr>
</tbody>
</table>
</figure>
Now Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37875455/bank-stocks-hit-all-time-highs-analyst-points-to-further-rally-on-a-1995-soft-landi">Bank Stocks Hit All-Time Highs: Analyst Points To Further Rally On &#8216;A 1995 Soft Landing Scenario&#8217;</a>
Photo: Sean Pollock via Unsplash

Movers

COMP

DBRG

DESK

HOUS

PKST

10 Real Estate Stocks Move On Thursday: Fed Rate Cut Possibility Sparks Rally For Troubled Sector

Financial giants have made a conspicuous bullish move on Vornado Realty. Our analysis of options history for Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) revealed 8 unusual trades.
Delving into the details, we found 62% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $168,480, and 4 were calls, valued at $541,400.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $30.0 for Vornado Realty over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Vornado Realty's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Vornado Realty's substantial trades, within a strike price spectrum from $20.0 to $30.0 over the preceding 30 days.
<h3>Vornado Realty Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711046764_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>VNO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$30.00</td>
<td>$360.0K</td>
<td>61</td>
<td style="text-align: right;">743</td>
</tr>
<tr>
<td>VNO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$25.00</td>
<td>$65.0K</td>
<td>112</td>
<td style="text-align: right;">57</td>
</tr>
<tr>
<td>VNO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$30.00</td>
<td>$64.8K</td>
<td>1.0K</td>
<td style="text-align: right;">220</td>
</tr>
<tr>
<td>VNO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$30.00</td>
<td>$63.9K</td>
<td>61</td>
<td style="text-align: right;">33</td>
</tr>
<tr>
<td>VNO</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$20.00</td>
<td>$52.6K</td>
<td>1.7K</td>
<td style="text-align: right;">56</td>
</tr>
</tbody>
</table>

<h3>About Vornado Realty</h3>
Vornado owns and has an ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.
Following our analysis of the options activities associated with Vornado Realty, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Vornado Realty</h3>
<ul>
<li>With a trading volume of 1,557,082, the price of VNO is up by 1.87%, reaching $27.76.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 39 days from now.</li>
</ul>
<h3>Expert Opinions on Vornado Realty</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $23.5.
<ul>
<li>Maintaining their stance, an analyst from Goldman Sachs continues to hold a Sell rating for Vornado Realty, targeting a price of $21. </li>
<li>An analyst from Truist Securities persists with their Hold rating on Vornado Realty, maintaining a target price of $26. </li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Vornado Realty with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Vornado Realty Options Trading: A Deep Dive into Market Sentiment

Throughout the last three months, 7 analysts have evaluated Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>), offering a diverse set of opinions from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $26.71, with a high estimate of $31.00 and a low estimate of $21.00. Marking an increase of 8.27%, the current average surpasses the previous average price target of $24.67. 
<img src="https://www.benzinga.com/files/images/story/2024/1709910029_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Vornado Realty's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Caitlin Burrows</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Sell</td>
<td>$21.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$26.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Underweight</td>
<td>$25.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$30.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>John Kim</td>
<td>BMO Capital</td>
<td>Announces</td>
<td>Market Perform</td>
<td>$31.00</td>
<td>-</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Underperform</td>
<td>$28.00</td>
<td>$23.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Vornado Realty. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Vornado Realty compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Vornado Realty's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Vornado Realty's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/VNO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Vornado Realty analyst ratings.</a>
<h2>Get to Know Vornado Realty Better</h2>
Vornado owns and has an ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.
<h3>Key Indicators: Vornado Realty's Financial Health</h3>
Market Capitalization Highlights: Above the industry average, the company's market capitalization signifies a significant scale, indicating strong confidence and market prominence.
Revenue Challenges: Vornado Realty's revenue growth over 3 months faced difficulties. As of 31 December, 2023, the company experienced a decline of approximately -1.13%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Vornado Realty's net margin is impressive, surpassing industry averages. With a net margin of -13.81%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of -1.36%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Vornado Realty's ROA excels beyond industry benchmarks, reaching -0.37%. This signifies efficient management of assets and strong financial health.
Debt Management: Vornado Realty's debt-to-equity ratio stands notably higher than the industry average, reaching 2.08. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Beyond The Numbers: 7 Analysts Discuss Vornado Realty Stock

Truist Securities analyst Michael Lewis maintains Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) with a Hold and lowers the price target from $30 to $26.

Truist Securities Maintains Hold on Vornado Realty, Lowers Price Target to $26

Following Donald Trump&#8217;s success in the Michigan Primary, the investment community is closely monitoring market trends, anticipating the potential impacts of his political success. Trump&#8217;s track record in business and the anticipated direction of his policies are of particular interest, especially concerning the real estate sector. Certain Real Estate Investment Trusts (REITs) are in a prime position to capitalize on the economic and regulatory shifts that may come with Trump&#8217;s ongoing political role. Highlighted below are three REITs worth considering, each poised to potentially benefit from the developments tied to Trump&#8217;s political activities.&nbsp;
<h2 class="wp-block-heading">Simon Property Group</h2>
Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>), offering a dividend of 5%, is the largest shopping mall operator in the United States. Its portfolio includes premier shopping, dining, entertainment, and mixed-use destinations. The company specializes in high-end malls and premium outlets, catering to a broad consumer and retailer base. Policies under Trump&#8217;s administration aimed at strengthening domestic businesses and consumer spending could benefit SPG directly. Tax cuts, deregulation, and efforts to boost consumer confidence might lead to increased retail sales, driving higher foot traffic to Simon&#8217;s properties. Furthermore, SPG&#8217;s focus on redeveloping its properties to offer more than just retail—by incorporating dining, entertainment, and lifestyle amenities—aligns well with evolving consumer preferences and could capitalize on the broader economic uplift. 
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that,<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Vornado Realty Trust</h2>
Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) boasts a significant presence in office and retail real estate, predominantly in New York City and Chicago. Its portfolio is deeply invested in high-demand urban centers, which are sensitive to business environment fluctuations. Trump's policies, potentially including business tax incentives and infrastructure enhancement initiatives, could spur economic growth, especially in these metropolitan areas. Vornado's strategic investments in office spaces may experience heightened demand as businesses look to expand or relocate, leveraging potential tax benefits or regulatory reforms. Moreover, the company's prime urban retail spaces could gain from increased consumer spending and revitalized urban development efforts
<h2 class="wp-block-heading">American Tower Corporation</h2>
American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>), providing a 4% dividend, stands as a global leader in wireless and broadcast communications infrastructure ownership and operation. The company leases space on its multi-tenant towers to various wireless service providers, broadcasters, and other clients. Trump&#8217;s focus on enhancing America&#8217;s infrastructure, including advanced telecommunications networks, positions AMT to benefit significantly. Supportive policies for the swift deployment of 5G technology and telecommunications framework enhancements could boost demand for AMT's services. With over 40,000 sites in the United States, the company's extensive infrastructure is vital for the growing needs of wireless communications, positioning it to benefit from technological upgrades and infrastructure improvements
Investing in these REITs could offer a strategic avenue to tap into the potential economic shifts associated with Trump&#8217;s political influence, especially following his Michigan Primary win. As his policies and administration&#8217;s directives unfold, the real estate sector might experience significant transformations, potentially benefiting these strategically positioned REITs. Investors looking to leverage the intertwining of politics and real estate markets may find valuable opportunities in these companies, combining the stability of real estate investments with the dynamic changes of the current political landscape.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that,<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
</ul>
Image credit: Shutterstock

Donald Trump Takes Michigan: How His Victory Could Transform These Three REITs

6 analysts have shared their evaluations of Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>
Analysts have set 12-month price targets for Vornado Realty, revealing an average target of $26.33, a high estimate of $31.00, and a low estimate of $18.00. This upward trend is evident, with the current average reflecting a 24.2% increase from the previous average price target of $21.20.
<img src="https://www.benzinga.com/files/images/story/2024/1708023657_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive Vornado Realty. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Lowers</td>
<td>Underperform</td>
<td>$26.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>Alexander Goldfarb</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Underweight</td>
<td>$25.00</td>
<td>$16.00</td>
</tr>
<tr>
<td>Michael Lewis</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$30.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>John Kim</td>
<td>BMO Capital</td>
<td>Announces</td>
<td>Market Perform</td>
<td>$31.00</td>
<td>-</td>
</tr>
<tr>
<td>Steve Sakwa</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Underperform</td>
<td>$28.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Emmanuel Korchman</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Sell</td>
<td>$18.00</td>
<td>$12.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Vornado Realty. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Vornado Realty compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Vornado Realty's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into Vornado Realty's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/VNO/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Vornado Realty analyst ratings.</a>
<h2>Unveiling the Story Behind Vornado Realty</h2>
Vornado owns and has an ownership interest in Class A office and retail properties highly concentrated in Manhattan, with additional properties in San Francisco and Chicago. It operates as a real estate investment trust.
<h3>A Deep Dive into Vornado Realty's Financials</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Negative Revenue Trend: Examining Vornado Realty's financials over 3 months reveals challenges. As of 31 December, 2023, the company experienced a decline of approximately -1.13% in revenue growth, reflecting a decrease in top-line earnings. When compared to others in the Real Estate sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Vornado Realty's net margin is impressive, surpassing industry averages. With a net margin of -13.81%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -1.36%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Vornado Realty's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.37% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Vornado Realty's debt-to-equity ratio stands notably higher than the industry average, reaching 2.08. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Unveiling 6 Analyst Insights On Vornado Realty

Shares of REITs are trading lower amid a rise in Treasury yields, which could drive a rotation out of income-paying stocks.

Vornado Realty Trust shares are trading higher after the company reported mixed Q4 financial results.

Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) reported quarterly FFO As Adjusted of $0.63 per share which beat the analyst consensus estimate of $0.60 by 5 percent. This is a 12.5 percent decrease over FFO As Adjustedof $0.72 per share from the same period last year. The company reported quarterly sales of $441.89 million which missed the analyst consensus estimate of $454.99 million by 2.88 percent. This is a 1.13 percent decrease over sales of $446.94 million the same period last year.

Earnings

Vornado Realty Q4 FFO Per Share As Adjusted $0.63 Beats $0.60 Estimate, Sales $441.89M Miss $454.99M Estimate

U.S. stock futures once again displayed indecision on Monday, echoing recent sessions and reflecting market uncertainties. With no major earnings reports expected in the morning, attention is likely to turn to Federal Reserve officials&#8217; speeches scheduled for the day and the New York Fed&#8217;s January consumer expectations reading. Bond yields remained stagnant above the 4% mark, while&nbsp;<a target="_blank" href="https://www.benzinga.com/money/how-to-invest-in-commodities" rel="noreferrer noopener">oil prices retraced</a>&nbsp;after last week&#8217;s surge.
Cues From Last Week&#8217;s Trading:
Positive tech earnings overshadowed concerns about rate uncertainty, leading to a week of gains across the board. Despite hawkish comments from Fed officials, traders remained focused on upbeat earnings and a rally in crude oil, buoying energy stocks and lifting market sentiment.
As a result, major indices extended their winning streak for a fifth consecutive week. The Nasdaq Composite Index closed at its highest level since Nov. 19, 2021, while the Nasdaq 100 Index set a new closing record. The S&amp;P 500 breached the 5,000 level for the first time, driven by optimistic fundamentals and better-than-expected earnings.
Although the 30-stock Dow Industrials closed slightly below its record high on Friday, broader participation was evident as the Russell 2,000 Index surpassed the psychological resistance of 2,000 for the first time since early January.
 US Index Performance In Week Ended Feb. 9
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.31%</td>
<td>15,990.66</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.06%</td>
<td>5,026.61</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.37%</td>
<td>38,726.33</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+2.41%</td>
<td>2,009.99</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Analyst Color:</figcaption></figure>
Analysts and economists are optimistic about the strong performance of the market this year. LPL Chief Economist Jeffrey Roach attributed the recent market buoyancy to the expectations that artificial intelligence will boost productivity and help strong economic performance. 
&#8220;This year should be another good year despite the risks of some choppiness in the near term as investors wait for that first cut from the Fed,&#8221; he said.
Rob Swanke, Senior Equity Strategist at Commonwealth Financial Network, sounded a note of caution. &#8220;Some caution is warranted with valuations continuing to climb above 20x forward earnings and getting closer to the peak of 21.4x we saw when the S&amp;P 500 was at 4,800 at the beginning of 2022,&#8221; the analyst said.
&#8220;We're still well below the 25x forward earnings of the dot com bubble and many of the companies driving the markets have solid earnings prospects so I wouldn't say we're in bubble territory, but the market is pricing closer to perfection now and companies will have to continue to hit high earnings targets in 2024, something they didn't have to do in 2023.&#8221;
Futures Today
 Futures Performance On Monday
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.01%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.01%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.10%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.27%</td>
</tr>
</tbody>
</table>
</figure>
<a href="https://www.benzinga.com/premarket/">In premarket trading</a> on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) moved up 0.01% to $501.26 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) added 0.06% to $437.30, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Upcoming Economic Data:
The week&#8217;s economic events start slow but momentum builds up in the second half of the week. Notable among the reports due are the Labor Department&#8217;s producer and consumer price inflation reports for January as well as the weekly jobless claims report, the Commerce Department&#8217;s retail sales report for January, two regional manufacturing activity data from the New York Federal Reserve and the Philadelphia Fed, and the Fed&#8217;s January industrial production report.
Traders also get to digest another slew of Fed speeches, two housing market reports and the University of Michigan&#8217;s preliminary consumer sentiment reading for February.
On Monday, Fed Governor Michelle Bowman is scheduled to speak at 9:20 a.m. ET. Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari will make public appearances at 12 p.m. ET and 1 p.m. ET, respectively.
The New York Fed will release its January consumer price inflation expectations report at 11 a.m. ET. The December survey showed inflation expectations, one year ahead, falling from 3.4% in November to 3%.
The Treasury will auction three- and six-month bills at 11:30 a.m. ET.
The Treasury will release the monthly federal budget for January at 2 p.m. ET, with the deficit likely narrowing from $39 billion to $21 billion.
See Also: <a href="https://www.benzinga.com/money/best-brokers-futures-traders">Best Futures Brokers</a> 
Stocks In Focus:
<ul>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) fell over 3% in premarket trading on a negative analyst action.</li>
<li>monday.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) and Trimble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) are due to announce their quarterly results before the market opens.</li>
<li>Notable companies scheduled to report after the close include Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>), Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>), Lattice Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>), Principal Financial Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFG#NASDAQ">PFG</a>), Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) and Waste Management, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>).</li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil futures fell 0.95% to $76.11 in early European session on Monday after the commodity rallied 6.31% in the week ended Feb. 9. The benchmark 10-year Treasury note remained unchanged at 4.098%.
Most Asian markets remained closed for the Chinese New Year holiday, while Japan was shut in observance of the National Day. Those markets that were open for trading on Monday ended lower due to indecision amid a lack of domestic trading cues and apprehensions over the sustenance of the rally in the U.S.
European stocks advanced rose and were moderately higher in late-morning trading on Monday.
In the currency market, the U.S. dollar firmed up against most major trading pairs but it slipped against the yen. Most cryptocurrencies pulled back early Monday, with the apex currency, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down about 1% to the sub-$48,000 level.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37061300/puzzling-says-analyst-as-microsofts-valuation-double-that-of-energy-companies-despi">&#8216;Puzzling,&#8217; Says Analyst As Microsoft&#8217;s Valuation Double That Of Energy Companies Despite Generating Half Their Cash Flow</a>
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Nasdaq, S&P Futures Flatline As Key Inflation Data, More Earnings Lie In Store This Week: Analyst Flags 'Some Caution' On Overvaluations

<h3>Companies Reporting Before The Bell</h3>
&bull; Beasley Broadcast Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBGI#NASDAQ">BBGI</a>) is projected to report quarterly loss at $0.07 per share on revenue of $66.05 million.
&bull; Trimble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMB#NASDAQ">TRMB</a>) is likely to report quarterly earnings at $0.59 per share on revenue of $911.34 million.
&bull; Monday.Com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDY#NASDAQ">MNDY</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $197.95 million.
&bull; Alexander&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALX#NYSE">ALX</a>) is projected to report earnings for its fourth quarter.
<h3>Companies Reporting After The Bell</h3>
&bull; Cemtrex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) is estimated to report earnings for its first quarter.
&bull; Star Bulk Carriers (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBLK#NASDAQ">SBLK</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $203.01 million.
&bull; Safe Bulkers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SB#NYSE">SB</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $74.54 million.
&bull; PetVivo Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PETV#NASDAQ">PETV</a>) is estimated to report earnings for its third quarter.
&bull; Delta Apparel (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/DLA#AMEX">DLA</a>) is likely to report quarterly loss at $0.91 per share on revenue of $92.50 million.
&bull; Goodyear Tire &amp; Rubber (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $5.39 billion.
&bull; Electrovaya (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELVA#NASDAQ">ELVA</a>) is likely to report earnings for its first quarter.
&bull; 2U (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) is likely to report quarterly earnings at $0.64 per share on revenue of $280.67 million.
&bull; Service Corp Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCI#NYSE">SCI</a>) is estimated to report quarterly earnings at $0.91 per share on revenue of $1.02 billion.
&bull; Equity Commonwealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQC#NYSE">EQC</a>) is projected to report earnings for its fourth quarter.
&bull; Safehold (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAFE#NYSE">SAFE</a>) is estimated to report quarterly earnings at $0.35 per share on revenue of $85.95 million.
&bull; Brixmor Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRX#NYSE">BRX</a>) is projected to report earnings for its fourth quarter.
&bull; Federal Realty Investment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRT#NYSE">FRT</a>) is estimated to report earnings for its fourth quarter.
&bull; SPDR ICE Preferred Securities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSK#NYSE">PSK</a>) is likely to report quarterly earnings at $0.23 per share on revenue of $125.00 million.
&bull; Intercorp Financial Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IFS#NYSE">IFS</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $419.95 million.
&bull; ZoomInfo Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $310.67 million.
&bull; Teradata (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) is likely to report quarterly earnings at $0.51 per share on revenue of $456.79 million.
&bull; Avis Budget Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) is projected to report quarterly earnings at $4.15 per share on revenue of $2.81 billion.
&bull; Investcorp Credit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICMB#NASDAQ">ICMB</a>) is estimated to report quarterly earnings at $0.13 per share on revenue of $6.42 million.
&bull; Blackbaud (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLKB#NASDAQ">BLKB</a>) is estimated to report quarterly earnings at $1.05 per share on revenue of $299.05 million.
&bull; Bank of N.T Butterfield (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTB#NYSE">NTB</a>) is estimated to report quarterly earnings at $1.11 per share on revenue of $141.34 million.
&bull; Otter Tail (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTTR#NASDAQ">OTTR</a>) is estimated to report quarterly earnings at $1.25 per share on revenue of $319.48 million.
&bull; Hudson Pacific Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>) is estimated to report earnings for its fourth quarter.
&bull; Watts Water Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTS#NYSE">WTS</a>) is estimated to report quarterly earnings at $1.78 per share on revenue of $532.29 million.
&bull; Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) is projected to report quarterly loss at $0.12 per share on revenue of $80.86 million.
&bull; Trinseo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSE#NYSE">TSE</a>) is estimated to report quarterly loss at $1.33 per share on revenue of $853.00 million.
&bull; Brighthouse Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHF#NASDAQ">BHF</a>) is likely to report quarterly earnings at $3.69 per share on revenue of $2.13 billion.
&bull; Beyond Air (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XAIR#NASDAQ">XAIR</a>) is expected to report quarterly loss at $0.53 per share on revenue of $450 thousand.
&bull; Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) is likely to report quarterly earnings at $1.70 per share on revenue of $1.53 billion.
&bull; Lattice Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LSCC#NASDAQ">LSCC</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $176.19 million.
&bull; Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) is likely to report earnings for its fourth quarter.
&bull; Medpace Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDP#NASDAQ">MEDP</a>) is estimated to report quarterly earnings at $2.22 per share on revenue of $498.71 million.
&bull; James Hardie Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JHX#NYSE">JHX</a>) is estimated to report earnings for its third quarter.
&bull; Principal Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFG#NASDAQ">PFG</a>) is expected to report quarterly earnings at $1.68 per share on revenue of $3.60 billion.
&bull; Cadence Design Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNS#NASDAQ">CDNS</a>) is likely to report quarterly earnings at $1.33 per share on revenue of $1.06 billion.
&bull; Waste Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WM#NYSE">WM</a>) is expected to report quarterly earnings at $1.53 per share on revenue of $5.20 billion.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For February 12, 2024

Vornado Realty (VNO) has provided an announcement. Vornado Realty Trust recently announced the release of its 2023 Sustainability Report, showcasin...

Vornado Realty Highlights Commitment in Sustainability Report

A Hawkish Pivot

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
These stocks that are vulnerable to rate cuts won&rsquo;t be saved by a potential interest rate cut. Readers can take that statement one of two ways. It&rsquo;s either a reflection that rate cuts are now expected to occur later than previously expected, and that the firms will run out of time. Or, it implies that even if rate cuts are quickly enacted that it won&rsquo;t be enough to save these firms.&nbsp;



I&rsquo;d suggest that in either case the firms discussed are not worthy of investment. Each stock has suffered in the face of continued quantitative tightening. However, each firm also has a unique variety of other factors which conspire to weaken their respective stocks.



Investors should not be lured in by suggestions of outsized gains on implied rebounds. Instead avoid these stocks that are vulnerable to rate cuts at all costs.



<h2>AMC (AMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/amc1600-4-300x169.png" alt="AMC Entertainment sell off continues as stock sees tenth straight losing day, as the markets continued to see volatility following Federal Reserve Chairman's speech."><div>Source: TY Lim / Shutterstock.com</div></div>AMC (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) was one of the primary names during the Reddit meme stock era. That era is essentially over and what remains is the naked truth of its business.



AMC operates movie theaters that are struggling to find their niche in the new digital era. people simply are not going out to the movies as often as they did in the past. The long-term trends continue to point to the continued emergence of other modes of watching movies.



The problem won&rsquo;t get any better for AMC in the immediate future. AMC posted $4.81 billion in sales during all of 2023. That figure is <a href="https://stockanalysis.com/stocks/amc/forecast/">expected to shrink</a> to $4.55 billion in 2024. Bullish investors could argue that AMC&rsquo;s EPS losses are narrowing over the same period in order to make an argument in favor of investing. However, AMC is expected to continue producing losses through at least 2026. It&rsquo;s all part and parcel of a larger narrative in which the movie theater industry continues to contract. That has been and will continue to be the primary reason to avoid AMC which is the largest theater chain in the U.S.



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/01/muln1600-2-300x169.png" alt="In this photo illustration, the Mullen Technologies (MULN) logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Mullen Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/">MULN</a>) continues to use naive investors to enrich its ownership. Those investors have become blind to the fact that the company has enacted three reverse stock splits over the last 12 months. They somehow continue to believe that the company will emerge as a legitimate EV truck and van manufacturer in the future.



Mullen shares themselves currently trade for approximately $4. However, that is simply a function of the arithmetic that governs stock splits. Most of the time investors understand that reverse stock splits are a desperate hail Mary to increase the value of share prices. The common result is that firms enacting reverse stock splits are usually punished. Yet, that doesn&rsquo;t seem to be the case with Mullen Automotive which should trade for mere pennies by now.



Several of my colleagues <a href="https://investorplace.com/2024/03/red-alert-3-stocks-you-should-never-ever-own/">have noted</a> that the company continues to enrich its ownership. This is happening despite the horrendous underlying business. Do not reward Mullen Automotive&rsquo;s ownership with your capital. It will not be utilized to enact a turnaround. Instead it will line the pockets of a CEO steering the company into oblivion.&nbsp;



<h2>Vornado Realty (VNO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/office-1600-300x169.png" alt="Group of colleagues discuss something in an office conference room. commercial real estate"><div>Source: GaudiLab / Shutterstock</div></div>Vornado Realty (NYSE:<a href="https://investorplace.com/stock-quotes/vno-stock-quote/">VNO</a>) is a large commercial real estate firm and precisely the kind of stock that suffers as interest rates rise.



Commercial real estate continues to face severe headwinds due to the emergence of remote and hybrid work models. The problem is particularly acute for Vornado Realty which is focused on office properties.



Occupancy rates have rebounded to a degree but remote work is here to stay. firms like tornado Realty cannot remain stuck in the past because that past doesn&rsquo;t exist anymore.



That&rsquo;s only one problem for the firm. Its holdings are concentrated in the New York metropolitan area. Cheaper options have emerged making New York City less attractive than it was before.



The company is also plagued by a troubled dividend <a href="https://www.gurufocus.com/stock/VNO/dividend">that has shrunk</a> by 19% annually over the past 5 years. Beyond that, the firm is also clearly in distress based on multiple metrics <a href="https://www.gurufocus.com/term/zscore/VNO/Altman-Z-Score/Vornado-Realty-Trust">including its Altman-Z score</a> which measures bankruptcy risk.



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-dying-stocks-that-wont-be-saved-by-interest-rate-cuts/">3 Dying Stocks That Won&#8217;t Be Saved by Interest Rate Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Dying Stocks That Won't Be Saved by Interest Rate Cuts

Sell Alert: 5 Worst REIT Categories To Buy In 2024

In a report released today, Brendan Lynch from Barclays maintained a Sell rating on Vornado Realty (VNO – Research Report), with a price target of ...

Barclays Keeps Their Sell Rating on Vornado Realty (VNO)

Vornado Realty Trust 4.45% CUM PFD O declares $0.2781 dividend

Vornado Realty Trust 5.25% CUM PFD M declares $0.3281 dividend

Vornado Realty Trust PFD CONV SER A declares $0.813 dividend

Vornado Realty Trust 5.25 PFD SR N declares $0.3281 dividend

Vornado Realty Trust Cum Red Pfd Shs Series L declares $0.3375 dividend

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Vornado Realty Stock (NYSE:VNO), Short Interest Report

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