Vornado Realty Trust (NYSE:VNO) was upgraded by stock analysts at Bank of America Corp. from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $114.00 price target on the real estate investment trust’s stock, up from their prior price target of $108.00. Bank of America Corp.’s price target suggests a potential upside of 15.98% from the stock’s current price.

Several other research firms have also issued reports on VNO. TheStreet raised Vornado Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, August 1st. Argus reaffirmed a “hold” rating on shares of Vornado Realty Trust in a research report on Tuesday, August 30th. Finally, Zacks Investment Research raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 21st. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Vornado Realty Trust presently has an average rating of “Buy” and a consensus price target of $106.94.

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

Vornado Realty Trust (NYSE:VNO) opened at 98.29 on Friday. The company has a market cap of $18.58 billion, a price-to-earnings ratio of 46.34 and a beta of 0.90. Vornado Realty Trust has a 12 month low of $78.91 and a 12 month high of $108.69. The firm’s 50-day moving average is $95.20 and its 200-day moving average is $98.51.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, October 31st. The real estate investment trust reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by $0.03. The company earned $633.20 million during the quarter, compared to analysts’ expectations of $631.60 million. Vornado Realty Trust had a return on equity of 4.98% and a net margin of 19.48%. Vornado Realty Trust’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. On average, analysts anticipate that Vornado Realty Trust will post $4.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 21st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, November 3rd. This represents a $2.52 annualized dividend and a dividend yield of 2.56%. Vornado Realty Trust’s dividend payout ratio (DPR) is 118.87%.

In related news, Director Russell B. Wight, Jr. purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were bought at an average price of $102.53 per share, for a total transaction of $205,060.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel R. Tisch purchased 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were bought at an average price of $88.53 per share, for a total transaction of $4,426,500.00. The disclosure for this purchase can be found here. Insiders own 9.72% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Employees Retirement System of Texas increased its position in shares of Vornado Realty Trust by 11.0% in the second quarter. Employees Retirement System of Texas now owns 113,257 shares of the real estate investment trust’s stock valued at $11,339,000 after buying an additional 11,210 shares during the period. Duff & Phelps Investment Management Co. acquired a new position in shares of Vornado Realty Trust during the second quarter valued at approximately $54,478,000. Retirement Systems of Alabama increased its position in shares of Vornado Realty Trust by 183.3% in the second quarter. Retirement Systems of Alabama now owns 253,963 shares of the real estate investment trust’s stock valued at $25,427,000 after buying an additional 164,325 shares during the period. Legal & General Group Plc increased its position in shares of Vornado Realty Trust by 3.2% in the first quarter. Legal & General Group Plc now owns 1,034,238 shares of the real estate investment trust’s stock valued at $97,660,000 after buying an additional 31,915 shares during the period. Finally, Standard Life Investments LTD increased its position in shares of Vornado Realty Trust by 1.5% in the second quarter. Standard Life Investments LTD now owns 142,309 shares of the real estate investment trust’s stock valued at $14,247,000 after buying an additional 2,042 shares during the period. Institutional investors own 90.84% of the company’s stock.

Vornado Realty Trust Company Profile

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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