
VNO Stock Forecast & Price Target
VNO Analyst Ratings
Bulls say
Vornado Realty's positive outlook is bolstered by an increase in funds from operations (FFO) estimates, with a projected FFO of $2.31 per share for 2024, reflecting stronger leasing activity and higher interest income. The company's anticipated improvement in portfolio occupancy, expected to rise to 86.4% by the end of 2024, indicates a recovery trend in the Manhattan office market, which is critical for its operations. Additionally, the revision of the net asset value per share (NAVPS) to $34 underscores the potential value in the company's development pipeline, reinforcing expectations of robust normalized FFO per share growth of 5.4% from 2024 to 2029.
Bears say
Vornado Realty has experienced the most significant normalized funds from operations per share (FFOps) decline among its peers since the pandemic, leading to a high FFO multiple, which raises concerns about sustainability. The company's occupancy rates, which started above 96% prior to COVID-19, have seen continued declines, indicating weakening demand for its office spaces. Projections for 2024 suggest a further 16.7% year-over-year decrease in normalized FFOps, compounded by potential economic downturns and a continued trend of remote work reducing tenant space requirements.
This aggregate rating is based on analysts' research of Vornado Realty Trust and is not a guaranteed prediction by Public.com or investment advice.
VNO Analyst Forecast & Price Prediction
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