Weekly Analysts’ Ratings Updates for Vornado Realty Trust (VNO)

Vornado Realty Trust (NYSE: VNO) recently received a number of ratings updates from brokerages and research firms:

  • 2/7/2018 – Vornado Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Vornado have underperformed the industry it belongs to, in the past six months. Further, the stock has seen the Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share being revised downward in a months’ time. Recently, the company disclosed that its fourth quarter results will reflect a negative impact of 18 cents due to certain tax expenses, repayment expenses and other losses. As part of its portfolio repositioning efforts, the company has been aggressively disposing its assets. However, dilutive impact on earnings from divestitures of assets cannot be bypassed in the near term. Also, intense competition and hike in interest rates remain concerns. Nevertheless, Vornado has a portfolio of premium assets in high-rent, high barrier-to-entry markets as well as a diverse tenant base.”
  • 1/31/2018 – Vornado Realty Trust had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $75.00 price target on the stock.
  • 1/29/2018 – Vornado Realty Trust was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Vornado have underperformed its industry in the past year. Further, the stock has seen the Zacks Consensus Estimate for fourth-quarter 2017 funds from operations (FFO) per share being revised downward in a month’s time. Recently, Vornado disclosed that its fourth quarter results will reflect a negative impact of 18 cents due to certain tax expenses, repayment expenses and other losses. Notably, as part of its portfolio-repositioning efforts, the company has been aggressively disposing its assets. Last July, it completed the spin-off of its Washington, DC segment. This made Vornado a New York-based office and retail REIT. While streamlining efforts are a strategic fit for the long term, the earnings-dilutive impact cannot be bypassed in the near term. Further, intense competition continues to impact rental growth for Vornado’s office assets. Also, hike in interest rates remains a concern.”
  • 1/22/2018 – Vornado Realty Trust was upgraded by analysts at SunTrust Banks, Inc. from a “hold” rating to a “buy” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 12/18/2017 – Vornado Realty Trust was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 12/15/2017 – Vornado Realty Trust was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $92.00 price target on the stock.

Shares of Vornado Realty Trust (NYSE:VNO) traded down $0.67 during mid-day trading on Monday, reaching $67.02. The company’s stock had a trading volume of 617,506 shares, compared to its average volume of 1,258,694. The stock has a market capitalization of $12,520.00, a P/E ratio of 15.96, a P/E/G ratio of 4.08 and a beta of 0.85. Vornado Realty Trust has a 52 week low of $65.49 and a 52 week high of $89.38. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.20.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, January 29th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Friday, January 26th. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.60. Vornado Realty Trust’s dividend payout ratio (DPR) is 60.00%.

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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