Vornado Realty Trust (NYSE:VNO) Hits New 1-Year Low at $25.16

Vornado Realty Trust (NYSE:VNOGet Rating)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $25.16 and last traded at $25.17, with a volume of 67318 shares. The stock had previously closed at $26.12.

Wall Street Analyst Weigh In

Several equities research analysts have commented on VNO shares. Evercore ISI dropped their target price on Vornado Realty Trust from $35.00 to $34.00 and set an “in-line” rating on the stock in a report on Monday. Morgan Stanley dropped their target price on Vornado Realty Trust from $25.00 to $24.00 and set an “underweight” rating on the stock in a report on Friday, September 9th. Piper Sandler lowered their price target on Vornado Realty Trust to $24.00 in a report on Monday, July 4th. Truist Financial lowered their price target on Vornado Realty Trust from $34.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, September 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Vornado Realty Trust from $44.00 to $33.00 in a report on Wednesday, July 20th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.75.

Vornado Realty Trust Stock Performance

The business has a fifty day simple moving average of $28.12 and a two-hundred day simple moving average of $33.95. The company has a quick ratio of 5.13, a current ratio of 5.13 and a debt-to-equity ratio of 1.53. The company has a market cap of $4.79 billion, a P/E ratio of 37.88 and a beta of 1.29.

Vornado Realty Trust (NYSE:VNOGet Rating) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.60). The company had revenue of $453.49 million during the quarter, compared to analysts’ expectations of $430.43 million. Vornado Realty Trust had a return on equity of 3.07% and a net margin of 11.52%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. On average, sell-side analysts anticipate that Vornado Realty Trust will post 3.1 EPS for the current year.

Vornado Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 8.48%. The ex-dividend date of this dividend was Friday, August 5th. Vornado Realty Trust’s payout ratio is 321.22%.

Institutional Trading of Vornado Realty Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. increased its position in Vornado Realty Trust by 223.0% in the second quarter. Federated Hermes Inc. now owns 1,938 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 1,338 shares in the last quarter. Royal London Asset Management Ltd. grew its position in shares of Vornado Realty Trust by 40.7% during the second quarter. Royal London Asset Management Ltd. now owns 77,847 shares of the real estate investment trust’s stock worth $2,226,000 after purchasing an additional 22,535 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Vornado Realty Trust by 180.0% during the second quarter. Verition Fund Management LLC now owns 78,066 shares of the real estate investment trust’s stock worth $2,232,000 after purchasing an additional 50,189 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Vornado Realty Trust during the second quarter worth about $127,000. Finally, Legal & General Group Plc grew its position in shares of Vornado Realty Trust by 4.7% during the second quarter. Legal & General Group Plc now owns 2,476,397 shares of the real estate investment trust’s stock worth $70,800,000 after purchasing an additional 112,075 shares in the last quarter. Hedge funds and other institutional investors own 74.67% of the company’s stock.

Vornado Realty Trust Company Profile

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Vornado's portfolio is concentrated in the nation's key market New York City along with the premier asset in both Chicago and San Francisco. Vornado is also the real estate industry leader in sustainability policy. The company owns and manages over 23 million square feet of LEED certified buildings and received the Energy Star Partner of the Year Award, Sustained Excellence 2019.

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