Vornado Realty Trust (NYSE:VNO)‘s stock had its “outperform” rating reaffirmed by Evercore ISI in a research report issued to clients and investors on Friday. They presently have a $86.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $106.00. Evercore ISI’s price objective suggests a potential upside of 8.59% from the company’s previous close.

Several other brokerages have also recently commented on VNO. Citigroup Inc. reduced their price objective on Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays PLC reduced their price objective on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a research report on Tuesday. Morgan Stanley reissued an “equal weight” rating and set a $95.00 price objective (down previously from $111.00) on shares of Vornado Realty Trust in a research report on Tuesday, June 13th. BidaskClub raised Vornado Realty Trust from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Finally, Zacks Investment Research cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $102.38.

Vornado Realty Trust (NYSE:VNO) traded up 0.01% during trading on Friday, reaching $79.21. The company had a trading volume of 349,090 shares. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 15.30 and a beta of 0.96. The stock has a 50 day moving average price of $76.18 and a 200 day moving average price of $81.05. Vornado Realty Trust has a 12 month low of $69.81 and a 12 month high of $90.32.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.64. The business had revenue of $620.85 million during the quarter, compared to analysts’ expectations of $642 million. Vornado Realty Trust had a return on equity of 6.84% and a net margin of 42.35%. Vornado Realty Trust’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.61) earnings per share. On average, equities research analysts predict that Vornado Realty Trust will post $1.19 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Vornado Realty Trust by 1.9% in the first quarter. Vanguard Group Inc. now owns 24,521,890 shares of the real estate investment trust’s stock worth $2,459,792,000 after buying an additional 457,208 shares during the last quarter. BlackRock Inc. increased its stake in Vornado Realty Trust by 2,605.3% in the first quarter. BlackRock Inc. now owns 15,932,961 shares of the real estate investment trust’s stock worth $1,598,235,000 after buying an additional 15,344,015 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Vornado Realty Trust by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 4,693,340 shares of the real estate investment trust’s stock worth $470,789,000 after buying an additional 582,843 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Vornado Realty Trust by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 4,584,977 shares of the real estate investment trust’s stock worth $459,920,000 after buying an additional 367,657 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Vornado Realty Trust by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 4,053,337 shares of the real estate investment trust’s stock worth $406,591,000 after buying an additional 260,216 shares during the last quarter. 87.55% of the stock is currently owned by institutional investors.

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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