Vornado Realty Trust (VNO) Downgraded by Stifel Nicolaus to Hold
Vornado Realty Trust (NYSE:VNO) was downgraded by investment analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $77.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $86.00. Stifel Nicolaus’ target price would indicate a potential upside of 3.69% from the stock’s current price.
VNO has been the subject of several other research reports. BidaskClub upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday. TheStreet lowered shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Barclays PLC lowered their price objective on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Evercore ISI raised shares of Vornado Realty Trust from an “in-line” rating to an “outperform” rating and set a $106.00 price target for the company in a research report on Monday, July 10th. Finally, Argus raised shares of Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $96.60.
Shares of Vornado Realty Trust (VNO) traded up 0.13% during mid-day trading on Wednesday, reaching $74.26. 1,008,478 shares of the company were exchanged. The firm has a 50-day moving average price of $77.18 and a 200 day moving average price of $79.53. Vornado Realty Trust has a 12 month low of $73.02 and a 12 month high of $111.72. The stock has a market capitalization of $14.07 billion, a P/E ratio of 16.04 and a beta of 0.97.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $626.04 million during the quarter, compared to analyst estimates of $633.19 million. Vornado Realty Trust had a net margin of 37.96% and a return on equity of 4.51%. Vornado Realty Trust’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Equities research analysts anticipate that Vornado Realty Trust will post $1.12 EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its position in 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 in the last quarter. Sun Life Financial INC increased its position in 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 in the last quarter. Harvest Fund Management Co. Ltd increased its position in 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 in the last quarter. Perigon Wealth Management LLC purchased a new position in Vornado Realty Trust during the first quarter worth about $139,000. Finally, Advisors Asset Management Inc. increased its position in 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 in the last quarter. 86.07% of the stock is currently owned by hedge funds and other institutional investors.
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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