Vornado downgraded to Neutral from Buy at Citi » 06:1004/0704/07/20
Citi analyst Emmanuel…
Story temporarily locked.
Early notable gainers among liquid option names on April 3rd » 09:5504/0304/03/20
CCL, SPG, FCX, VNO, KR
Notable gainers among…
Notable gainers among liquid option names this morning include Carnival (CCL) $8.68 +0.71, Simon Property (SPG) $45.82 +1.81, Freeport McMoRan (FCX) $6.64 +0.25, Vornado (VNO) $32.49 +1.13, and Kroger (KR) $32.65 +1.05.
Vornado downgraded to Sell from Neutral at Goldman Sachs » 05:1604/0204/02/20
Goldman Sachs analyst…
Goldman Sachs analyst Richard Skidmore downgraded Vornado to Sell from Neutral with a price target of $32, down from $64. The analyst estimates the company will generate flat core funds from operations growth through 2022 versus 3.3% growth for its office peers. Vornado has the largest exposure to retail in Skidmore's coverage.
|Over a week ago|
Vornado downgraded to In Line from Outperform at Evercore ISI » 06:4603/2503/25/20
Evercore ISI analyst…
Evercore ISI analyst Steve Sakwa downgraded Vornado to In Line from Outperform.
|Over a month ago|
Vornado downgraded to Neutral from Buy at BofA » 06:2102/2002/20/20
BofA analyst James…
BofA analyst James Feldman downgraded Vornado to Neutral from Buy with a $68 price target. The analyst notes that he anticipated 2020 FFO growth to be flat, but the company's latest earnings call commentary suggests that a decline of 8% is more likely. Feldman also sees further downside risk if Forever XXI gives up all of its space during the bankruptcy process. The analyst contends that investors will remain skeptical about the management's plan to return to growth in 2021 until more specific details are offered.
Vornado downgraded to Neutral from Buy at BofA » 06:0302/2002/20/20
BofA downgraded Vornado…
BofA downgraded Vornado to Neutral from Buy.
Vornado reports Q4 AFFO 89c, consensus 83c » 16:4402/1802/18/20
Reports Q4 revenue…
Reports Q4 revenue $460.97M, consensus $462.95M.
Elliott adds LogMeIn, exits Devon in Q4 » 16:5802/1402/14/20
LQD, LOGM, HYG, NLOK, AXE, DVN, HES, FOXA, COMM, DELL, T, MPC, NLSN, VNO, OPB, CTXS, RILY, ESI, ARNC, EBAY
Paul Singer's Elliott Management disclosed in an SEC filing its holdings as of December 31, 2019. The fund's five new buys during the fourth quarter included, by size of position, IShares iBoxx $ Investment Grade Corporate Bond ETF (LQD), LogMeIn (LOGM), IShares iBoxx High Yield Corporate Bond ETF (HYG), NortonLifeLock (NLOK), and Anixter (AXE). Elliott exited seven positions during the quarter, including by size of previous position Devon (DVN), Hess (HES), Fox Corp. Class A (FOXA), and CommScope (COMM). The fund increased its stake in six holdings, including by size of previous position Dell Technologies (DELL), AT&T (T), Marathon Petroleum (MPC), Nielsen (NLSN), and Vornado Realty Trust (VNO). Elliott reduced its stake in four holdings, including by size of previous position Opus Bank (OPB), Citrix Systems (CTXS), B. Riley Financial (RILY), and Element Solutions (ESI). The fund's top holdings as of December 31, in order of size, were Arconic (ARNC), Dell Technologies, Marathon Petroleum, Citrix Systems, and eBay (EBAY).
Vornado downgraded to Hold from Buy at SunTrust » 07:1501/1601/16/20
SunTrust analyst Ki Bin…
SunTrust analyst Ki Bin Kim downgraded Vornado (VNO) to Hold from Buy with an unchanged $68 price target. The analyst warns that 2020 may bring more headwinds before redevelopment benefits become more evident in 2021 and believes that the Street has already reflected the optimism about the move by Facebook (FB) into the REIT's Farley Building.
Easterly Government Properties downgraded to Hold from Buy at SunTrust » 07:0201/1601/16/20
SunTrust analyst Ki Bin…
SunTrust analyst Ki Bin Kim downgraded Easterly Government Properties (DEA) to Hold from Buy. The analyst notes that the REIT was the best performing stock in his office coverage in 2019, but now sees only 1% in normalized FFO per share growth over the next two years. Kim adds that only Vornado (VNO) trades at a higher 2020 FFO multiple than Easterly Government Properties.