Vornado Realty Trust (VNO) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Vornado Realty Trust (NYSE:VNO) have been given a consensus rating of “Hold” by the twelve ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $100.75.
A number of analysts have recently weighed in on the company. BidaskClub raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Citigroup Inc. cut 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, July 19th. Bank of America Corporation reaffirmed a “buy” rating and set a $113.00 price objective (up previously from $112.00) on shares of Vornado Realty Trust in a research report on Thursday, June 22nd. Zacks Investment Research lowered Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Morgan Stanley reaffirmed 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.
Institutional investors have recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 419 shares during the last quarter. Sun Life Financial INC increased its position in shares of Vornado Realty Trust by 13,866.7% in the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,248 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 500 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in shares of Vornado Realty Trust during the first quarter worth approximately $139,000. Finally, Advisors Asset Management Inc. increased its position in shares of Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 87.19% of the company’s stock.
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Vornado Realty Trust (VNO) traded down 1.85% during midday trading on Friday, reaching $73.91. The company had a trading volume of 475,744 shares. The company has a 50-day moving average of $77.55 and a 200-day moving average of $94.37. Vornado Realty Trust has a 12-month low of $73.48 and a 12-month high of $111.72. The stock has a market capitalization of $14.00 billion, a PE ratio of 15.96 and a beta of 0.97.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. The business had revenue of $626.04 million for the quarter, compared to analyst estimates of $633.19 million. During the same quarter in the prior year, the company earned $1.21 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, analysts predict that Vornado Realty Trust will post $1.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.19%. Vornado Realty Trust’s payout ratio is currently 51.72%.
Vornado Realty Trust Company Profile
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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