Vornado Realty Trust’s “Neutral” Rating Reaffirmed at Zacks (VNO)
Vornado Realty Trust (NYSE:VNO)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Wednesday. They currently have a $112.00 price target on the stock. Zacks‘s price target would suggest a potential upside of 4.58% from the company’s current price.
Zacks’ analyst wrote, “Vornado’s second-quarter 2014 adjusted FFO per share came above the year-ago quarter figure, aided by notable portfolio repositioning and leasing activity. However, including one-time expenses, Vornado s reported FFO per share came below the comparable period due to higher Toys ‘R’ Us losses. Nevertheless, the company’s strategic revamping of its portfolio is expected to bode well for future growth. The New York portfolio is projected to grow due to improving office leasing, retail sales, and rental rates. Further, the shopping center spin-off decision is encouraging as it would help in increasing its focusing on its core assets. However, the Washington DC market is stressed and leasing activity remains slow. Additionally, the sluggish pace of office market recovery and stiff competition remains matter of concerns.”
A number of other analysts have also recently weighed in on VNO. Analysts at Deutsche Bank raised their price target on shares of Vornado Realty Trust from $101.00 to $102.00 in a research note on Thursday, August 21st. They now have a “hold” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Vornado Realty Trust from $106.00 to $112.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $107.00.
Vornado Realty Trust (NYSE:VNO) traded up 0.45% during mid-day trading on Wednesday, hitting $107.10. 897,664 shares of the company’s stock traded hands. Vornado Realty Trust has a 52-week low of $80.60 and a 52-week high of $109.12. The stock has a 50-day moving average of $106.2 and a 200-day moving average of $103.1. The company has a market cap of $20.099 billion and a P/E ratio of 130.50.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.03. The company had revenue of $666.61 million for the quarter, compared to the consensus estimate of $668.27 million. During the same quarter last year, the company posted $1.25 earnings per share. Vornado Realty Trust’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that Vornado Realty Trust will post $4.80 earnings per share for the current fiscal year.
Vornado Realty Trust (NYSE:VNO) is an integrated real estate investment trust (REIT).
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