Vornado Realty Trust Rating Reiterated by Zacks (VNO)
Vornado Realty Trust (NYSE:VNO)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Monday. They currently have a $111.00 price objective on the stock. Zacks‘s price target would suggest a potential upside of 4.77% from the stock’s previous close.
Zacks’ analyst wrote, “Vornado’s first-quarter 2014 adjusted FFO per share missed the Zacks Consensus Estimate, but came above the year-ago quarter figure aided by notable portfolio repositioning and leasing activity. Further, the shopping center spin-off decision is in line with its streamlining measures and will help Vornado focus exclusively on the office assets in the New York City and Washington, DC region and the Manhattan street retail properties. Also, the New York portfolio is projected to continue performing strongly due to improving market fundamentals. However, the Washington DC market is stressed and leasing activity remains slow. Also, increase in online purchases could hurt the demand for its retail properties. Additionally, sluggish pace of office market recovery and stiff competition remains matter of concerns. “
Vornado Realty Trust (NYSE:VNO) traded down 0.09% during mid-day trading on Monday, hitting $105.85. The stock had a trading volume of 235,696 shares. Vornado Realty Trust has a 52-week low of $79.56 and a 52-week high of $109.12. The stock has a 50-day moving average of $106. and a 200-day moving average of $98.5. The company has a market cap of $19.837 billion and a price-to-earnings ratio of 89.18.
Vornado Realty Trust (NYSE:VNO) last released its earnings data on Monday, May 5th. The company reported $1.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.27 by $0.07. The company had revenue of $660.60 million for the quarter, compared to the consensus estimate of $670.58 million. During the same quarter last year, the company posted $1.08 earnings per share. Vornado Realty Trust’s revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Vornado Realty Trust will post $4.84 earnings per share for the current fiscal year.
VNO has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Vornado Realty Trust in a research note on Friday, June 27th. They now have a $107.00 price target on the stock, up previously from $105.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of Vornado Realty Trust from $105.00 to $110.00 in a research note on Wednesday, May 7th. They now have a “buy” rating on the stock. Finally, analysts at ISI Group upgraded shares of Vornado Realty Trust from a “cautious” rating to a “neutral” rating in a research note on Monday, May 5th. They now have a $98.00 price target on the stock, up previously from $92.00. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Vornado Realty Trust has a consensus rating of “Buy” and a consensus target price of $103.75.
Vornado Realty Trust (NYSE:VNO) is an integrated real estate investment trust (REIT).
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