Vornado Realty Trust (NYSE:VNO) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They currently have a $77.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $86.00. Stifel Nicolaus’ target price points to a potential upside of 3.37% from the company’s previous close.

A number of other research firms have also weighed in on VNO. Citigroup Inc. cut their target price on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 19th. Bank of America Corporation restated a “buy” rating and set a $113.00 target price (up from $112.00) on shares of Vornado Realty Trust in a research note on Thursday, June 22nd. Argus upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Thursday, August 24th. TheStreet lowered shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Finally, Barclays PLC cut their target price on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $96.60.

Vornado Realty Trust (VNO) opened at 74.49 on Wednesday. Vornado Realty Trust has a 52-week low of $73.02 and a 52-week high of $111.72. The firm’s 50-day moving average is $76.98 and its 200-day moving average is $79.22. The stock has a market cap of $14.11 billion, a P/E ratio of 16.09 and a beta of 0.97.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.09. The company had revenue of $626.04 million for the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. Equities research analysts predict that Vornado Realty Trust will post $1.16 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in VNO. Levin Capital Strategies L.P. raised its position in shares of Vornado Realty Trust by 2.8% in the first quarter. Levin Capital Strategies L.P. now owns 208,148 shares of the real estate investment trust’s stock valued at $20,879,000 after buying an additional 5,610 shares in the last quarter. Clinton Group Inc. bought a new position in shares of Vornado Realty Trust during the first quarter valued at approximately $11,386,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Vornado Realty Trust during the first quarter valued at approximately $841,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Vornado Realty Trust by 521.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 28,177 shares of the real estate investment trust’s stock valued at $2,646,000 after buying an additional 23,641 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Vornado Realty Trust by 34.2% in the first quarter. FIL Ltd now owns 82,623 shares of the real estate investment trust’s stock valued at $8,288,000 after buying an additional 21,057 shares in the last quarter. Institutional investors own 86.07% of the company’s stock.

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.

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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