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

Vornado Realty

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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The recent market recovery shows signs of a slight falter. Index futures indicate a mixed open on Tuesday.

Wall Street Stutters After Disney, Palantir Earnings Frustrate: Apple Event, Hawkish Fed Speech In Focus While Analyst Insists &#39;Bull Market Is Back&#39;

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The stock market is poised to mark a third consecutive session of gains, with major indices all trading in the green during midday trading in New York on Monday, as traders continue to react positively to quarterly earnings and the Federal Reserve’s unexpectedly dovish stance 

Stocks On Track For Third Green Session, Palantir Ignites Rally In Chipmakers, Commodities Rebound: What&#39;s Driving Markets Monday?

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U.S. stocks are likely to extend their gains as major index futures are modestly higher on Monday. Strong earnings reports continue to support the market, with S&amp;P 500 earnings expected to grow by 5% year-over-year — the highest rate since Q2 2022.

Wall Street Looks To Extend Rally Amid Caution Over Fed Speeches, More Earnings: Why This Analyst Thinks Bull Market Is Still &#39;Quite Young&#39;

Vornado Realty Trust

Viper Energy, Inc. - Class A Common Stock

Viper Energy Inc

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

WIIM

Vornado Realty shares are trading lower following worse-than-expected Q1 financial results.

The recent market recovery shows signs of a slight falter. Index futures indicate a mixed open on Tuesday. Negative reactions to earnings from AI-linked company&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38653781/palantir-q1-earnings-revenue-beat-and-raise-us-commercial-growth-continued-gaap-profitability-and-m" rel="noreferrer noopener">Palantir Technologies</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) could weigh on the tech sector. Surprisingly,&nbsp;Walt Disney Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) shares fell sharply pre-market despite reporting a profit and its direct-to-consumer business turning a profit for the first time.
Traders may also focus on a speech by a hawkish Federal Reserve official scheduled for midday. Bond yields and the March consumer credit report could also be in the spotlight.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.14%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.05%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.13%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.10%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Tuesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.06% to $516.86,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slipped 0.12% to $439.70, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session: 
The positive catalysts driving the market last week continued on Monday, pushing stocks higher. Fed Chair&nbsp;Jerome Powell&#8216;s dismissal of rate hikes, the &#8220;Goldilocks&#8221; job numbers, and positive earnings reports further lowered bond yields, leading to improved risk appetite.
The major averages opened higher and traded sideways, with buying accelerating in late trading. The Dow Industrials rose for a fourth session, while the Nasdaq Composite and S&amp;P 500 advanced for three straight days, all three reaching one-month highs. Information technology, consumer discretionary, and communication services stocks led the gains, with all sectors except real estate advancing.
<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>+1.19%</td>
<td>16,349.25</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.03%</td>
<td>5,180.74</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.46%</td>
<td>38,852.27</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.23%</td>
<td>2,060.67</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Fund manager Louis Navellier said in a note that the &#8220;bull market is back.&#8221; Outlining the rationale behind his conviction, he said:
<ul>
<li>rebound off the April correction should give investors more confidence in buying dips going forward.</li>
<li>lower interest rates are a bit more incentive to deploy funds out of money market accounts.</li>
<li>AI theme remains intact</li>
<li>an election year which should be heating up soon.</li>
</ul>
&#8220;The Magnificent 7&#8221; is a few cents from hitting a new high for the year, he noted.
Adam Turnquist, Chief Technical Strategist for LPL Financial, said technically, the S&amp;P 500 has bounced off oversold levels and rallied back to resistance at the 50-day moving average. The March high of 5,254 is the next resistance hurdle to clear, the analyst said. 
The technical strategist noted that the market breadth remained robust, with nearly three-quarters of S&amp;P 500 stocks remaining above their 200-dma. Cyclical sectors exhibited the broadest participation, he added.
&#8220;Momentum is also improving as the Percent Price Oscillator — a momentum indicator based on the relationship between two moving averages — recently flipped back into a buy position,&#8221; Turnquist said.
Upcoming Economic Data:
<ul>
<li>Minneapolis Fed President Neel Kashkari is due to speak at 11:30 a.m. EDT.</li>
<li>The Energy Information Administration will release its short-term energy outlook report at noon EDT.</li>
<li>The Treasury will auction three-year notes at 1 p.m. EDT.</li>
<li>The Fed will release its consumer credit report for March at 3 p.m. EDT. The outstanding consumer credit is expected to rise from $14.1 billion in February to $15 billion in March.</li>
</ul>
See also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Stocks In Focus:
<ul>
<li> Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) fell over 8.50% <a href="https://www.benzinga.com/premarket">in premarket trading </a>following the company&#8217;s earnings announcement.</li>
<li>Other stocks moving on earnings are Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>) (up over 4%), Palantir (down over 9.70%), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) (down about 4%), The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>), Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) (down over 3%) and Coherent Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COHR#NYSE">COHR</a>) (up over 7.50%).</li>
<li>Crocs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>), Datadog, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>), Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), Embraer S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERJ#NYSE">ERJ</a>), Expeditors International of Washington, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPD#NYSE">EXPD</a>), EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), Rockwell Automation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>), UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), Disney and WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) are among the<a href="https://www.benzinga.com/calendars/earnings"> notable companies reporting ahead of the market open.</a></li>
<li>Those reporting after the close include Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), GoPro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRO#NASDAQ">GPRO</a>), iRobot Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRBT#NASDAQ">IRBT</a>), Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>), Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>), Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), Reddit, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>), Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>) and Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>).</li>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) climbed over 5% amid rumors of a <a href="https://www.benzinga.com/markets/equities/24/05/38660790/is-apple-back-in-the-ev-game-tech-giant-reportedly-eyes-rivian-partnership">potential partnership with</a> Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). Apple was up a little less than a percent ahead of its &#8220;Let Loose&#8221; hardware launch event.</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
After Monday&#8217;s recovery, crude futures were headed lower and traded just above the $78-a-barrel mark, while gold futures fell. The 10-year bond yield fell further and held under 4.5%. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) eased below $64,000 at the last check.
Markets in Asia ended on a mixed note, with those reopening after Monday&#8217;s public holiday playing catchup and rising sharply, while the Hong Kong, Chinese, Indian, Indonesian, and New Zealand markets retreated. European stocks have started on a firm note.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38636014/will-earnings-cheer-continue-this-week-all-eyes-on-disney-palantir-robinhood-while-reddit-gears-up-">Will Earnings Cheer Continue This Week? All Eyes On Disney, Palantir, Robinhood While Reddit Gears Up For Debut Quarterly Report</a>
illustration created using artificial intelligence via MidJourney.

Wall Street Stutters After Disney, Palantir Earnings Frustrate: Apple Event, Hawkish Fed Speech In Focus While Analyst Insists 'Bull Market Is Back'

Vornado Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>) reported quarterly earnings of $0.55 per share which missed the analyst consensus estimate of $0.58 by 5.17 percent. This is a 8.33 percent decrease over earnings of $0.60 per share from the same period last year. The company reported quarterly sales of $436.375 million which missed the analyst consensus estimate of $445.534 million by 2.06 percent. This is a 2.14 percent decrease over sales of $445.923 million the same period last year.

Earnings Misses

Vornado Realty Q1 2024 FFO $0.55 Misses $0.58 Estimate, Sales $436.375M Miss $445.534M Estimate

The stock market is poised to mark a third consecutive session of gains, with major indices all trading in the green during midday trading in New York on Monday, as traders continue to react positively to quarterly earnings and the Federal Reserve&#8217;s unexpectedly dovish stance <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38584705/federal-reserve-takes-cautious-stand-on-inflation-powell-signals-preference-for-r">in its latest meeting.</a>
For Q1 2024, 80% of S&amp;P 500 companies have disclosed actual results, with over three quarters of them surpassing EPS estimates and 61% exceeding revenue estimates, according to FactSet.
The S&amp;P 500 rose by 0.4%, with the tech-heavy Nasdaq 100 showing a similar daily surge. Small caps, as measured by the iShares Russell 2000 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), outperformed large caps, rising by 1.2%.
Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) surged over 6% ahead of its Q1 results, set to be released after the market closes. The broader chipmaker industry, as tracked by the iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>), rose 1.7%, showing solid gains. 
Commodities performed strongly overall, with natural gas prices surging nearly 6% to a 4-month high. West Texas Intermediate (WTI) light crude oil rose by 1%, on track to break a 5-day losing streak. 
Crude oil faced notable volatility around 12:47 EDT as gains were initially trimmed on news of Hamas accepting a ceasefire proposal, but then it partially recovered those losses after Israeli Forces stated that Hamas had agreed to a modified version not accepted by Israel.
Gold and silver also saw robust demand, with gold up over 0.7% and silver rallying about 3%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) softened 0.8%, with prices retracing after testing the 50-day moving average resistance at $65,500-$65,900 levels.
<h3 class="wp-block-heading">Monday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,065.27</td>
<td>1.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,002.16</td>
<td>0.6%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,156.88</td>
<td>0.6%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,736.04</td>
<td>0.2%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:45 p.m. EDT </figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.6% to $514.40, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.2% to $387.45 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.6% to $437.98, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) outperformed, up 1.3%, followed by the Industrials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>), up 0.8%. The Consumer Staples Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) was the major laggard, down 0.4%.
<h3 class="wp-block-heading">Monday&#8217;s Stock Movers</h3>
<ul>
<li>Tyson Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) fell over 7%, after the company missed the Street&#8217;s revenue estimates last quarter.</li>
<li>Other companies reacting to earnings were Loews Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/L#NYSE">L</a>) up 1.6%, CNA Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNA#NYSE">CNA</a>) up 0.5%, Jones Lang LaSalle Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JLL#NYSE">JLL</a>) up 4%, Freshpet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRPT#NASDAQ">FRPT</a>) up over 6%, Brookfield Renewable Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEPC#NYSE">BEPC</a>) up 3%, and Integra LifeSciences Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IART#NASDAQ">IART</a>) down 21%,</li>
<li>Gold and silver miners rallied sharply Monday, on the heels of surging metal prices. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) was up 2.4%, while the Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) rocketed 2.9%. Notable outperformers for the industry were Coeur Mining Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>), Hecla Mining Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HL#NYSE">HL</a>) and Fortuna Silver Mines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSM#NYSE">FSM</a>) all screening a 5% surge.</li>
<li>Shares of Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) rose over 5% following a report by The New York Times on Sunday, indicating that the special committee approved initiating deal discussions with Sony and Apollo.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) fell over 12% after it rallied by about 50% over the last two sessions. </li>
<li> Companies reporting after the close include ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), FMC Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>), Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>), Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>). </li>
</ul>
Read now: <a href="https://www.benzinga.com/news/24/05/38648277/tesla-lays-off-more-employees-over-weekend-report">Tesla Lays Off More Employees Over Weekend: Report</a>
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Stocks On Track For Third Green Session, Palantir Ignites Rally In Chipmakers, Commodities Rebound: What's Driving Markets Monday?

U.S. stocks are likely to extend their gains as major index futures are modestly higher on Monday. Strong earnings reports continue to support the market, with S&amp;P 500 earnings expected to grow by 5% year-over-year — the highest rate since Q2 2022. The <a href="https://www.benzinga.com/markets/equities/24/05/38563545/powell-keeps-hawks-at-bay-says-interest-rate-hike-unlikely-stocks-gold-rally-while-treasury-yiel" target="_blank" rel="noreferrer noopener">possibility of rate cuts</a> has re-emerged, making this week&#8217;s flurry of Fed speeches potentially market-moving events. Analysts are confident the upward momentum will continue after a slow April, with the typical strength seen in election years (over the next three months) likely aiding the rally.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.28%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.31%</td>
</tr>
<tr>
<td>Dow</td>
<td>+0.29%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.76%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Monday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) climbed 0.31% to $512.87,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) jumped 0.27% to $436.65, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session&nbsp;
A dovish Federal Reserve message, benign economic data, and positive earnings reports fueled the market rally for a second consecutive week. All three major indices closed the week ending May 3 firmly in positive territory. While Fed Chair&nbsp;Jerome Powell&nbsp;didn&#8217;t provide a specific timeline for rate cuts, he reassured investors by clarifying that hikes are not on the immediate horizon. Big tech companies like&nbsp;Apple, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and&nbsp;Amazon, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) met analyst expectations with their earnings reports.
The Institute for Supply Management&#8217;s service sector reading fell sharply and dipped into contraction territory. However, the monthly non-farm payrolls report offered mixed signals: lower-than-expected job growth in April, a slight increase in the unemployment rate, and slower-than-expected wage growth.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Weekly Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+1.43%</td>
<td>16,156.33</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+0.55%</td>
<td>5,127.79</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+1.14%</td>
<td>38,675.68</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>+1.68%</td>
<td>2,035.72</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts: 
An analyst highlighted data that increases the confidence in the current market rally. Carson Group&#8217;s Ryan Detrick said the current bull market was still quite young. As opposed to the average duration of 60 months for the past 12 bull markets, the current one is less than 19 months old, he said. On a more positive note, if the bull market starts in October, its average is even a litter bit longer, he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This bull market is still quite young, at less than 19 mos old. Looking at the past 12 bull markets showed the avg is just over 60 mos. But 5 of the past 12 started in October (like this one). When they start in October? They last even a little bit longer. <a href="https://t.co/sjck6Ghr61">pic.twitter.com/sjck6Ghr61</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1787307821790368252?ref_src=twsrc%5Etfw">May 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Upcoming Economic Data: 
A slew of Fed speeches are scheduled for the unfolding week, while the jobless claims data, the University of Michigan&#8217;s preliminary consumer sentiment index for May, the Fed&#8217;s outstanding consumer credit report for March, and the monthly federal budget for April may also attract some attention.
On Monday, the Treasury will auction three- and six-month notes at 11:30 a.m. EDT.
Richmond Fed President Thomas Barkin&nbsp;is scheduled to speak at 12:50 p.m. EDT. New York Fed President John Williams will speak at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) shares rose about 4% <a href="https://benzinga.grsm.io/lxquj26b2sag">in premarket trading </a>after the New York Times reported that the media company will end its exclusive negotiations with Skydance Media without reaching a deal.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>), Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>), TreeHouse Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>), and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting ahead of the market open.</a></li>
<li>Those reporting after the close include ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), FMC Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>), J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>), Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>), Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>)</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures sharply early Monday, trading a little under $79 a barrel. The commodity fell nearly 7% in the week ended May 3. Gold futures also gained ground.
Bond yields weakened further at the start of the new week, with the 10-year note yielding 4.473%.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) saw an upward bounce and has tacked on about 2% over the past 24 hours. At last check, the apex crypto was approaching the $65,000 level.
Asian stocks rose across the board, as they latched onto the optimism regarding rising prospects of a U.S. Fed rate cut. The Chinese market witnessed standout gains after the policymakers said at last week&#8217;s Politburo meeting that they would step up support for the economy with prudent monetary and proactive fiscal policies.
The New Zealand market, however, bucked the trend and fell sharply on Monday. The Japanese and South Korean markets remained closed for public holidays.
Sentiment across the Atlantic was positive, with the major European averages firmer in early trading.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38636014/will-earnings-cheer-continue-this-week-all-eyes-on-disney-palantir-robinhood-while-reddit-gears-up-">Will Earnings Cheer Continue This Week? All Eyes On Disney, Palantir, Robinhood While Reddit Gears Up For Debut Quarterly Report</a>
Photo generated using Midjourney

Wall Street Looks To Extend Rally Amid Caution Over Fed Speeches, More Earnings: Why This Analyst Thinks Bull Market Is Still 'Quite Young'

Earnings reports and a dovish stance from the&nbsp;Federal Reserve&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624536/federal-reserve-dismisses-rate-hike-fears-labor-market-cools-apple-lures-investors-" rel="noreferrer noopener">lifted stocks last week</a>. Major indices reacted positively, particularly to earnings from high-profile companies that hold significant weight in the indexes.
Tech Giants Lead Charge: Apple, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and&nbsp;Amazon, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) were top performers. Apple impressed investors with a record $110 billion stock buyback plan and better-than-expected guidance for the June quarter.
According to <a href="https://insight.factset.com/sp-500-earnings-season-update-may-3-2024?utm_source=Direct&amp;utm_medium=Email&amp;utm_campaign=FO-05-03-2024&amp;utm_content=httpsinsightfactsetcomsp500earningsseasonupdatemay32024" target="_blank" rel="noreferrer noopener">FactSet</a>, a financial data analytics firm, 80% of S&amp;P 500 companies have reported earnings so far. These reports have shown a higher-than-average percentage of companies exceeding earnings expectations and by a larger margin than usual.
FactSet estimates that S&amp;P 500 companies&#8217; blended year-over-year earnings growth is currently at 5%, up from 3.5% the prior week. This is the highest growth rate since Q2 2022.
Eight out of eleven S&amp;P 500 sectors are experiencing earnings growth. Communication services, utilities, consumer discretionary, and IT are leading the pack, while energy, healthcare, and materials are lagging behind.
See Also:<a target="_blank" href="https://www.benzinga.com/money/best-consumer-discretionary-stocks" rel="noreferrer noopener">&nbsp;Best Consumer Discretionary Stocks</a>
Looking Ahead:&nbsp;This week will see earnings reports from 56 S&amp;P 500 companies, including one from the Dow Jones Industrial Average. Investors will be watching earnings from restaurants, electric vehicle companies, media and entertainment companies, biotech companies, and tech companies.&nbsp;Walt Disney Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) is expected to be a key focus due to its consumer exposure, while&nbsp;Reddit, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) will be releasing its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37876921/reddit-stock-opens-for-trading-at-47-everything-you-need-to-know" rel="noreferrer noopener">first-ever quarterly report</a>&nbsp;as a public company.
Notable among the companies reporting earnings are: 
Monday 
<ul>
<li>Before the bell: BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>), Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>), TreeHouse Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THS#NYSE">THS</a>) and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>).</li>
<li>After the close: ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>), Coty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COTY#NYSE">COTY</a>), Fidelity National Information Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>), FMC Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>), J&amp;J Snack Foods Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JJSF#NASDAQ">JJSF</a>), Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), Lumentum Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LITE#NASDAQ">LITE</a>), Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Microchip Technology Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>), Vornado Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNO#NYSE">VNO</a>)</li>
</ul>
Tuesday 
<ul>
<li>Before the bell: BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), Crocs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>), Datadog, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>), Duke Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), Embraer S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERJ#NYSE">ERJ</a>), Expeditors International of Washington, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPD#NYSE">EXPD</a>), EVgo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), Rockwell Automation, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ROK#NYSE">ROK</a>), UBS Group AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBS#NYSE">UBS</a>), Disney and WK Kellogg Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>)</li>
<li>After the close: Arista Networks, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), Coupang, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>), Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), GoPro, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPRO#NASDAQ">GPRO</a>), iRobot Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRBT#NASDAQ">IRBT</a>), Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>), Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>), Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>), Reddit, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), Twilio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>), Wynn Resorts, Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NASDAQ">WYNN</a>), RingCentral, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNG#NYSE">RNG</a>), Lyft, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>)</li>
</ul>
Wednesday 
<ul>
<li>Before the bell: Anheuser-Busch InBev SA/NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>), Choice Hotels International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHH#NYSE">CHH</a>), The New York Times Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), Taboola.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBLA#NASDAQ">TBLA</a>), Sunoco LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>), Teva Pharmaceutical Industries Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), Uber Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), EchoStar Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SATS#NASDAQ">SATS</a>)</li>
<li>After the close: Airbnb, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), Beyond Meat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BYND#NASDAQ">BYND</a>), Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), Cheesecake Factory Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>), Exact Sciences Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXAS#NASDAQ">EXAS</a>), HubSpot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>), News Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWSA#NASDAQ">NWSA</a>), Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>), The Trade Desk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>)</li>
</ul>
Thursday 
<ul>
<li>Before the bell: Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>), Cars.com Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARS#NYSE">CARS</a>), Constellation Energy Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), Ferrari N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RACE#NYSE">RACE</a>), Hanesbrands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBI#NYSE">HBI</a>), Krispy Kreme, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DNUT#NASDAQ">DNUT</a>), Papa John&#8217;s International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>), Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIX#NYSE">SIX</a>), Warner Bros. Discovery, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>), US Foods Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USFD#NYSE">USFD</a>)</li>
<li>After the close: Akamai Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>), Dropbox, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>), Lions Gate Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>), Marathon Digital Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), Navitas Semiconductor Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVTS#NASDAQ">NVTS</a>), Rackspace Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXT#NASDAQ">RXT</a>), Synaptics Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNA#NASDAQ">SYNA</a>), Yelp Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>)</li>
</ul>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the performance of the broader S&amp;P 500 Index, ended Friday&#8217;s session up 1.24% at $511.29, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>The ETF has pulled back from its all-time high (intraday) of $524.61 hit on March 28. The Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), an ETF levered more to high-profile, non-financial tech stocks, rose 2% to $435.43.
Read Next: <a href="https://www.benzinga.com/news/24/05/38630719/warren-buffett-fears-the-ai-genie-thats-part-out-of-the-bottle-but-agrees-it-has-potential-to-do-goo">Warren Buffett Fears The &#8216;AI Genie&#8217; That&#8217;s &#8216;Part Out Of The Bottle&#8217; But Agrees It Has Potential To Do Good: &#8216;Don&#8217;t Know How That Plays Out&#8217;</a>
Image via Shutterstock

Media

ABNB

AKAM

BLNK

BMBL

BYND

CAKE

CARS

CSIQ

DNUT

EXAS

FFIV

HOOD

HUBS

LSCC

MARA

MSTR

NVTS

NWSA

NXPI

PZZA

QGEN

RACE

RBLX

RDDT

RMBS

SANM

SATS

SEDG

SOFI

SYNA

TBLA

TEVA

UBER

USFD

YELP

YUMC

Will Earnings Cheer Continue This Week? All Eyes On Disney, Palantir, Robinhood While Reddit Gears Up For Debut Quarterly Report

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

Analyst Color

Macro Economic Events

REIT

Analyst Ratings

Real Estate

EXPI

OPEN

REXR

STAG

XLRE

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

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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NLCP

Build A Basket Of Well-Performing, High-Paying Dividend Stocks

CUBE

EQIX

GLPI

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HASI

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VICI

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.

Bonds

ALLY

BAYRY

CHTR

CNXC

LUMN

NAVI

NVDA

PSEC

Wondering Where To Find An Over 7% Annual Return? Check Out These 10 Investment-Grade Corporate Bonds

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

BRZE

DKNG

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

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>
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<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

Vornado Realty Trust 5.25 PFD SR N declares $0.3281 dividend

Notable earnings after Monday's close

Vornado Realty Trust FFO of $0.55 misses by $0.03, revenue of $436.38M misses by $11.42M

John Kim, an analyst from BMO Capital, maintained the Hold rating on Vornado Realty (VNO – Research Report). The associated price target is $31.00....

Vornado Realty: A Balanced View on Financial Performance and Market Challenges

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

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