Vornado Realty Trust (NYSE:VNO) Earns “Equal Weight” Rating from Morgan Stanley
Vornado Realty Trust (NYSE:VNO)‘s stock had its “equal weight” rating reiterated by equities research analysts at Morgan Stanley in a research note issued on Saturday. They presently have a $81.00 price target on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential upside of 2.94% from the stock’s current price.
VNO has been the topic of a number of other reports. Evercore ISI reaffirmed an “in-line” rating and set a $107.00 price objective (down from $111.00) on shares of Vornado Realty Trust in a research report on Thursday, May 4th. BidaskClub raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $113.00 price objective (up from $112.00) on shares of Vornado Realty Trust in a research report on Thursday, June 22nd. Zacks Investment Research cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Citigroup Inc. lowered their price objective on Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Vornado Realty Trust has an average rating of “Hold” and a consensus price target of $100.63.
Shares of Vornado Realty Trust (NYSE:VNO) traded down 0.64% during midday trading on Friday, hitting $78.69. The stock had a trading volume of 1,078,221 shares. Vornado Realty Trust has a 12 month low of $69.81 and a 12 month high of $90.32. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 15.20 and a beta of 0.96. The stock’s 50 day moving average price is $76.18 and its 200 day moving average price is $81.05.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.64. Vornado Realty Trust had a return on equity of 6.84% and a net margin of 42.35%. The firm had revenue of $620.85 million for the quarter, compared to analysts’ expectations of $642 million. During the same period in the previous year, the firm earned ($0.61) EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Vornado Realty Trust will post $1.19 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position 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 valued at $1,598,235,000 after buying an additional 15,344,015 shares in the last quarter. Norges Bank bought a new position in Vornado Realty Trust during the fourth quarter valued at $447,470,000. Agran Libbie increased its position in Vornado Realty Trust by 9,134.3% in the fourth quarter. Agran Libbie now owns 2,912,487 shares of the real estate investment trust’s stock valued at $2,911,000 after buying an additional 2,880,947 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Vornado Realty Trust during the fourth quarter valued at $144,917,000. Finally, Emerald Acquisition Ltd. bought a new position in Vornado Realty Trust during the second quarter valued at $121,634,000. 87.55% of the stock is currently owned by hedge funds and other 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.
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