Vornado Realty Trust (VNO), a prominent real estate investment trust, saw its shares surge 5.78% intraday on Tuesday, February 11th, amid a positive sentiment from analysts regarding the company's prospects.
Several analysts from leading firms, including Piper Sandler, Truist Financial, and Scotiabank, maintained their "Hold" ratings on VNO, expressing confidence in the company's strong portfolio of prime assets, particularly in the New York City office and Manhattan high street retail markets.
Analysts noted that Vornado Realty Trust's focused strategy of growing its dominant positions in these lucrative markets, combined with its impressive Q4 2024 earnings results, underpinned the stock's upward momentum. The company reported better-than-expected Funds From Operations (FFO) of $0.52 per share, surpassing consensus estimates of $0.51.
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