Brokerages Set Vornado Realty Trust (NYSE:VNO) PT at $39.91

Vornado Realty Trust (NYSE:VNO) has received a consensus rating of “Hold” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $39.5455.

VNO has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Morgan Stanley downgraded Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a report on Wednesday, July 22nd. Mizuho upped their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Scotiabank dropped their price objective on Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. Finally, Citigroup raised their target price on Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th.

Vornado Realty Trust Trading Down 1.0%

NYSE VNO opened at $35.23 on Friday. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $42.17. The firm has a 50 day moving average of $38.05 and a two-hundred day moving average of $34.03. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $6.58 billion, a PE ratio of 1,762.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). The firm had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million. Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. Vornado Realty Trust’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share. As a group, research analysts expect that Vornado Realty Trust will post 2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Vornado Realty Trust during the fourth quarter worth about $579,709,000. Franklin Resources Inc. boosted its position in shares of Vornado Realty Trust by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 12,504,170 shares of the real estate investment trust’s stock valued at $416,139,000 after purchasing an additional 195,111 shares during the period. Resolution Capital Ltd boosted its position in shares of Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock valued at $193,885,000 after purchasing an additional 1,895,846 shares during the period. Geode Capital Management LLC grew its stake in Vornado Realty Trust by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 3,354,542 shares of the real estate investment trust’s stock worth $111,658,000 after buying an additional 77,754 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Vornado Realty Trust by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust’s stock worth $65,340,000 after buying an additional 13,017 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company’s portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado’s activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.