Vornado Realty Trust (NYSE:VNO) Given Average Recommendation of “Reduce” by Analysts

Shares of Vornado Realty Trust (NYSE:VNO) have been given an average recommendation of “Reduce” by the ten brokerages that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $24.80.

A number of equities analysts recently commented on VNO shares. The Goldman Sachs Group decreased their price objective on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 22nd. Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Evercore ISI decreased their price target on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a report on Thursday, February 15th. Finally, Barclays began coverage on shares of Vornado Realty Trust in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 price objective on the stock.

Vornado Realty Trust Stock Performance

Shares of NYSE VNO opened at $26.23 on Friday. The stock’s fifty day simple moving average is $26.71 and its 200 day simple moving average is $25.89. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 114.04 and a beta of 1.57. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.82. Vornado Realty Trust has a 52-week low of $12.31 and a 52-week high of $32.21.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The company had revenue of $441.89 million for the quarter, compared to analyst estimates of $453.82 million. During the same quarter in the previous year, the firm posted $0.72 EPS. Vornado Realty Trust’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts forecast that Vornado Realty Trust will post 2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Vornado Realty Trust by 0.5% during the third quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock valued at $554,726,000 after acquiring an additional 116,504 shares during the period. Norges Bank acquired a new position in shares of Vornado Realty Trust in the fourth quarter valued at $489,922,000. Putnam Investments LLC lifted its position in Vornado Realty Trust by 3.0% in the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock worth $281,897,000 after purchasing an additional 288,952 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Vornado Realty Trust during the third quarter worth $132,326,000. Finally, Deutsche Bank AG raised its stake in shares of Vornado Realty Trust by 141.9% in the 3rd quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after buying an additional 2,486,439 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.