Evercore ISI Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $42.00

Vornado Realty Trust (NYSE:VNO) had its price objective cut by Evercore ISI from $43.00 to $42.00 in a research note published on Monday,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

VNO has been the subject of several other research reports. Barclays lifted their price target on Vornado Realty Trust from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. upgraded Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 target price on the stock in a research note on Monday, November 24th. Truist Financial increased their price objective on Vornado Realty Trust from $38.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Scotiabank dropped their price target on shares of Vornado Realty Trust from $40.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Vornado Realty Trust in a research note on Wednesday, December 10th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.46.

Vornado Realty Trust Price Performance

VNO stock opened at $34.21 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 5.58 and a current ratio of 5.58. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 6.08 and a beta of 1.47. The firm has a 50 day moving average price of $36.58 and a 200-day moving average price of $38.28. Vornado Realty Trust has a 52-week low of $29.68 and a 52-week high of $45.37.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The company had revenue of $453.70 million during the quarter, compared to analyst estimates of $435.19 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Vornado Realty Trust Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, December 29th. Shareholders of record on Thursday, December 18th will be issued a dividend of $0.74 per share. This represents a yield of 217.0%. The ex-dividend date of this dividend is Thursday, December 18th. Vornado Realty Trust’s dividend payout ratio is currently 17.62%.

Institutional Investors Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss Life Asset Management Ltd purchased a new position in Vornado Realty Trust during the third quarter valued at $310,000. CIBC Bancorp USA Inc. bought a new position in shares of Vornado Realty Trust during the 3rd quarter valued at approximately $1,718,000. Danske Bank A S purchased a new stake in Vornado Realty Trust in the 3rd quarter worth approximately $28,000. Advisory Services Network LLC purchased a new position in Vornado Realty Trust during the third quarter valued at approximately $33,000. Finally, Adelante Capital Management LLC lifted its stake in shares of Vornado Realty Trust by 2.5% during the 3rd quarter. Adelante Capital Management LLC now owns 370,941 shares of the real estate investment trust’s stock valued at $15,034,000 after buying an additional 8,993 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.