Vornado Realty Trust (VNO): Today's Featured Real Estate Winner
Vornado Realty (VNO) pushed the Real Estate industry higher today making it today's featured real estate winner. The industry as a whole was unchanged today. By the end of trading, Vornado Realty rose 89 cents (1.1%) to $81.39 on light volume. Throughout the day, 850,856 shares of Vornado Realty exchanged hands as compared to its average daily volume of two million shares. The stock ranged in a price between $79.77-$81.43 after having opened the day at $80.41 as compared to the previous trading day's close of $80.50. Other companies within the Real Estate industry that increased today were: Arbor Realty Trust Inc (ABR), up 12.1%, Thomas Properties Group Inc (TPGI), up 7.9%, ZipRealty Inc (ZIPR), up 2.9%, and W.P. Carey (WPC), up 2.9%. Vornado Realty Trust is a privately owned real estate investment trust. The trust engages in investment, ownership, and management of commercial real estate. It invests in the real estate markets of United States. The trust primarily invests in office, industrial and retail properties. Vornado Realty has a market cap of $15.2 billion and is part of the financial sector. The company has a P/E ratio of 23.6, above the average real estate industry P/E ratio of 18.5 and above the S&P 500 P/E ratio of 17.7. Shares are down 3.4% year to date as of the close of trading on Friday. TheStreet Ratings rates Vornado as a buy. The company's strongest point has been its expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
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