Argus took its Vornado Realty Trust [NYSE:VNO] rating to the equivalent of Buy from Hold, and the price target to $42, in a research note dated December 30, 2020. That figure represents around a 16.70% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with Evercore ISI’s analysts downgrading the shares from “an In-line” rating to “an Underperform” rating in a research note to investors issued in mid October. Meanwhile, Morgan Stanley had lowered its rating on VNO to “an Underweight” from the earlier “an Equal-weight”, in a research note produced for clients May 28, 2020. In addition, there was a downgrade from Stifel on May 06, 2020. The rater changed VNO from “a Hold” to “a Sell”.
Is Vornado Realty Trust [NYSE:VNO] a Good Buy Right Now?
It should be noted that VNO technical indicators for short, intermediate as well as long term progress have placed an overall average of 8% as Sell. The average signal changed from 24% Sell in the last week and compares with 24% Buy in the past month. Data from Vornado Realty Trust’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 2.09 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 2.67 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Sell and the 100-day average volume stands at 2.19 million shares.
VNO Price Performance
On Wall Street, Vornado Realty Trust [NYSE:VNO] finished Tuesday’s session down -2.68% at $35.99. The stock went up to $37.53 at the same session while its lowest single day price was $35.83. In the last five days, it saw a fall of about -0.53%, Vornado Realty Trust shares dropped by almost -45.88% since the beginning of the year. However, the share price has dropped to as low as -47.59% below its one year high. On 01/23/20, the company shares recorded $68.68, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/23/20, the same year at $27.64. The company’s shares have declined by -45.17% in the past year. The 50-day SMA achieved is $36.86 while the 200-day SMA is $36.83. Volume gained to 1.46 million from 1.2 million in the previous session.
Vornado Realty Trust [VNO] Valuation Measures
Notably, Vornado Realty Trust [VNO] stock cannot be classified as a good candidate in the listing of underestimated low-priced REIT – Office companies to purchase soonest possible with the prevailing 12-month PE ratio of 128.54. The measure means the stock is exchanging at a premium as compared to the 19.08x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 4.31 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 7.43 which means VNO serve an unattractive investment opportunity compared to its competitors.
VNO Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 35.37 level, and in case of violation of this particular level, it will cause more drop to 34.75 level. On the upper level, 38.15 is still the key resistance. The stock may increase to the subsequent resistance at 37.07. The Relative Strength Index (RSI) pinned on the 14-day chart is 42.30, implying a neutral technical stance while the MACD stands at -1.16, meaning price will decrease in the next trading period. Percent R indicator moved to 81.80%, implying bearish price movement. Stochastic %K at 23.00% suggest selling the stock.
What is the short interest in Vornado Realty Trust?
Short interest in the Vornado Realty Trust stock has plunged, decreasing by -1.09 million shares to total 15.6 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 14.51 million, data from Yahoo Finance shows. The increase of 6.99% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 10.62% of the overall float for the stock.
Vornado Realty Trust’s Biggest Shareholders: Who Owns Vornado Realty Trust [VNO]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 24,813,850 shares or roughly 12.97% of the outstanding VNO shares. This means their shares have reduced by -1,034,516 from the 24,813,850 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Norges Bank Investment Management updated stake is worth $701,512,437. Details in the latest 13F filings reveal that BlackRock Fund Advisors acquired their 0.13% stake valued at $419,876,643 while SSgA Funds Management, Inc. cut theirs at $415,720,043. During the last quarter, BlackRock Fund Advisors raised 13,775 of its shares in Vornado Realty Trust while SSgA Funds Management, Inc. sold -836,242 shares. The TCI Fund Management Ltd.’s holdings currently number 9,926,516 shares at $357255310.84. According to the firm’s last 13F report, JPMorgan Investment Management, I shares in the company at filing stood at 7,542,680 shares, roughly $293,485,679.
VNO Earnings Forecast For The Current Quarter
Vornado Realty Trust [VNO] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $365.98M and an earnings per share of -$0.12 for Dec 2020. Looking further ahead, the company is expected to report revenue of $376.46M at an EPS of -$0.16 for Mar 2021. The estimates represent downside of -2.40% and 98.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
VNO Earnings Estimates For The Current Year
For the financial year, Vornado Realty Trust [NYSE:VNO] is expected to bring in revenue of $1.64B. The returns are nearly $-280.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.76, lower than that of FY19 by -$16.97. Estimates put this year’s earnings growth at -104.70%, 98.70% for the next, and at an annual 17.33% over the next 5-year period. As for sales, forecasts are for a decrease of -14.90% in the current fiscal year and a further -2.40% over the following year.