Vornado Realty Trust (VNO) Given Average Rating of “Buy” by Analysts
Shares of Vornado Realty Trust (NYSE:VNO) have been given an average recommendation of “Buy” by the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $94.18.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Barclays PLC reiterated a “hold” rating and issued a $80.00 price objective on shares of Vornado Realty Trust in a research report on Thursday, October 19th. Morgan Stanley upgraded Vornado Realty Trust from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $81.00 to $84.00 in a research report on Tuesday, October 10th. Sandler O’Neill reiterated a “buy” rating and issued a $90.00 price objective on shares of Vornado Realty Trust in a research report on Tuesday, September 26th. Finally, Stifel Nicolaus downgraded Vornado Realty Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $86.00 to $77.00 in a research report on Wednesday, August 30th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNO. Fieldpoint Private Securities LLC purchased a new stake in Vornado Realty Trust during the third quarter valued at about $100,000. Bessemer Group Inc. raised its position in Vornado Realty Trust by 62.1% during the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 419 shares in the last quarter. Sun Life Financial INC raised its position in Vornado Realty Trust by 13,866.7% during the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 1,248 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Vornado Realty Trust by 56.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,996 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 718 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its position in Vornado Realty Trust by 56.5% during the second quarter. Perigon Wealth Management LLC now owns 2,175 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 785 shares in the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.
Vornado Realty Trust (VNO) traded down $0.60 during trading hours on Friday, hitting $76.15. The company’s stock had a trading volume of 261,028 shares, compared to its average volume of 961,156. The stock has a market capitalization of $14,459.21, a P/E ratio of 18.66, a P/E/G ratio of 4.56 and a beta of 0.99. Vornado Realty Trust has a 12-month low of $71.89 and a 12-month high of $89.38. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.20.
Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.90. The firm had revenue of $528.76 million for the quarter, compared to the consensus estimate of $545.53 million. Vornado Realty Trust had a return on equity of 4.73% and a net margin of 35.23%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 earnings per share. equities analysts forecast that Vornado Realty Trust will post 3.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, November 6th were given a dividend of $0.60 per share. The ex-dividend date was Friday, November 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 3.15%. Vornado Realty Trust’s payout ratio is 57.97%.
About Vornado Realty Trust
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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