Vornado Realty Trust (VNO) Receives $107.25 Average PT from Analysts
Vornado Realty Trust (NYSE:VNO) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are covering the stock. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $108.21.
Several equities research analysts have recently commented on VNO shares. TheStreet upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, August 1st. Bank of America Corp. upgraded Vornado Realty Trust from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $108.00 to $114.00 in a report on Friday. Argus restated a “hold” rating on shares of Vornado Realty Trust in a report on Tuesday, August 30th. Finally, Zacks Investment Research upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 21st.
In other Vornado Realty Trust news, Director Russell B. Wight, Jr. acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were acquired at an average price of $102.53 per share, with a total value of $205,060.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel R. Tisch acquired 50,000 shares of the business’s stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average cost of $88.53 per share, for a total transaction of $4,426,500.00. The disclosure for this purchase can be found here. 9.72% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. DNB Asset Management AS boosted its position in Vornado Realty Trust by 1.8% in the second quarter. DNB Asset Management AS now owns 11,028 shares of the real estate investment trust’s stock valued at $1,104,000 after buying an additional 200 shares in the last quarter. Cutler Group LP boosted its position in shares of Vornado Realty Trust by 5,831.6% in the first quarter. Cutler Group LP now owns 4,508 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 4,432 shares in the last quarter. Phocas Financial Corp. purchased a new position in shares of Vornado Realty Trust during the first quarter worth approximately $764,000. Squarepoint Ops LLC purchased a new position in shares of Vornado Realty Trust during the first quarter worth approximately $1,327,000. Finally, Arizona State Retirement System boosted its position in shares of Vornado Realty Trust by 1.5% in the first quarter. Arizona State Retirement System now owns 53,416 shares of the real estate investment trust’s stock worth $5,044,000 after buying an additional 800 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vornado Realty Trust (NYSE:VNO) opened at 95.12 on Tuesday. Vornado Realty Trust has a 1-year low of $78.91 and a 1-year high of $108.69. The company has a 50-day moving average price of $95.20 and a 200-day moving average price of $98.51. The company has a market cap of $17.98 billion, a PE ratio of 44.85 and a beta of 0.90.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, October 31st. The real estate investment trust reported $1.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The firm had revenue of $633.20 million for the quarter, compared to the consensus estimate of $631.60 million. Vornado Realty Trust had a net margin of 19.48% and a return on equity of 4.98%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. Equities research analysts expect that Vornado Realty Trust will post $4.85 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 21st. Shareholders of record on Monday, November 7th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $2.52 annualized dividend and a yield of 2.65%. Vornado Realty Trust’s dividend payout ratio is currently 118.87%.
About Vornado Realty Trust
Vornado Realty Trust is a fully integrated real estate investment trust (REIT). The Company conducts its business through, and its interests in properties are held by, Vornado Realty L.P. (the Operating Partnership). It is the sole general partner of, and owns common limited partnership interest in the Operating Partnership.
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