Vornado Realty Trust (NYSE:VNO) was downgraded by analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report issued on Friday, MarketBeat reports. They presently have a $92.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price target would indicate a potential upside of 18.74% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday, October 17th. Stifel Nicolaus cut Vornado Realty Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $86.00 to $77.00 in a report on Wednesday, August 30th. Argus upgraded Vornado Realty Trust from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Thursday, August 24th. Sandler O’Neill restated a “buy” rating and set a $90.00 target price on shares of Vornado Realty Trust in a report on Tuesday, September 26th. Finally, Barclays restated a “hold” rating and set a $80.00 target price on shares of Vornado Realty Trust in a report on Thursday, October 19th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $91.75.
Vornado Realty Trust (NYSE VNO) traded up $0.06 during midday trading on Friday, hitting $77.48. The stock had a trading volume of 1,221,400 shares, compared to its average volume of 1,138,985. The stock has a market cap of $14,700.35, a PE ratio of 18.98, a PEG ratio of 4.66 and a beta of 0.99. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.20. Vornado Realty Trust has a fifty-two week low of $71.89 and a fifty-two week high of $89.38.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. raised its position in shares of Vornado Realty Trust by 767.3% during the 2nd quarter. Franklin Resources Inc. now owns 2,126,678 shares of the real estate investment trust’s stock worth $199,694,000 after acquiring an additional 1,881,473 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Vornado Realty Trust by 23.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,221,172 shares of the real estate investment trust’s stock worth $558,195,000 after acquiring an additional 1,352,088 shares in the last quarter. Long Pond Capital LP acquired a new stake in shares of Vornado Realty Trust during the 3rd quarter worth about $64,360,000. American Century Companies Inc. acquired a new stake in shares of Vornado Realty Trust during the 3rd quarter worth about $47,992,000. Finally, Numeric Investors LLC raised its position in shares of Vornado Realty Trust by 1,397.9% during the 2nd quarter. Numeric Investors LLC now owns 503,300 shares of the real estate investment trust’s stock worth $47,260,000 after acquiring an additional 469,700 shares in the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.
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.
