Zacks Investment Research cut shares of Vornado Realty Trust (NYSE:VNO) from a hold rating to a sell rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “Shares of Vornado have underperformed its industry, over the past three months. Further, the trend in estimate revisions for 2020 funds from operations (FFO) per share does not indicate a favorable outlook for the company. It announced certain items that will contribute to the company's FFO plus assumed conversions per share by 51 cents. Nonetheless, Vornado’s bottom line will be hurt by prepayment fine relating to early redemption of senior unsecured notes. Although the company is monetizing assets to fund strategic acquisitions and redevelopments, these dispositions will likely result in near-term earnings dilution. Also, stiff competition from other market players and geographic concentration of its assets remain concerns.”

Other equities research analysts also recently issued reports about the stock. Deutsche Bank reduced their price target on shares of Vornado Realty Trust from $80.00 to $73.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Barclays restated a hold rating and issued a $68.00 price target on shares of Vornado Realty Trust in a research note on Friday, December 21st. Finally, JPMorgan Chase & Co. downgraded shares of Vornado Realty Trust from a neutral rating to an underweight rating and reduced their price target for the company from $74.00 to $72.00 in a research note on Wednesday, December 19th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $78.11.

VNO opened at $67.01 on Thursday. Vornado Realty Trust has a 1-year low of $59.48 and a 1-year high of $77.59. The company has a debt-to-equity ratio of 2.33, a quick ratio of 4.00 and a current ratio of 4.00. The company has a market capitalization of $12.78 billion, a PE ratio of 17.82, a P/E/G ratio of 4.00 and a beta of 1.11.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, February 11th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.72). Vornado Realty Trust had a net margin of 20.22% and a return on equity of 8.15%. The company had revenue of $543.42 million during the quarter, compared to analyst estimates of $544.79 million. During the same quarter in the previous year, the business posted $1.10 earnings per share. On average, analysts expect that Vornado Realty Trust will post 3.88 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in Vornado Realty Trust by 33.3% in the 4th quarter. Bessemer Group Inc. now owns 989 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 247 shares during the last quarter. Next Capital Management LLC bought a new position in Vornado Realty Trust in the 4th quarter valued at approximately $64,000. First Hawaiian Bank raised its holdings in Vornado Realty Trust by 476.2% in the 1st quarter. First Hawaiian Bank now owns 1,331 shares of the real estate investment trust’s stock valued at $90,000 after buying an additional 1,100 shares during the last quarter. Federated Investors Inc. PA raised its holdings in Vornado Realty Trust by 22.1% in the 3rd quarter. Federated Investors Inc. PA now owns 2,551 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 461 shares during the last quarter. Finally, NuWave Investment Management LLC raised its holdings in Vornado Realty Trust by 1,642.4% in the 1st quarter. NuWave Investment Management LLC now owns 2,631 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 2,480 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

About Vornado Realty Trust

Vornado's portfolio is concentrated in the nation's key market — New York City — along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2017.

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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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