Vornado Realty Trust (NYSE:VNO) Receives Average Recommendation of “Reduce” from Analysts

Shares of Vornado Realty Trust (NYSE:VNO) have been assigned an average rating of “Reduce” from the ten analysts that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $24.80.

A number of equities research analysts have issued reports on the company. Barclays assumed coverage on Vornado Realty Trust in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 price target for the company. Evercore ISI cut their price target on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, February 15th. The Goldman Sachs Group cut their price target on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, February 22nd. Finally, Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $24.00 to $26.00 in a research note on Thursday, March 28th.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $26.26 on Friday. Vornado Realty Trust has a one year low of $12.31 and a one year high of $32.21. The stock’s fifty day moving average is $26.66 and its 200 day moving average is $25.71. The stock has a market cap of $5.00 billion, a P/E ratio of 114.17 and a beta of 1.57. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, February 12th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The company had revenue of $441.89 million during the quarter, compared to the consensus estimate of $453.82 million. During the same period in the prior year, the business posted $0.72 earnings per share. Vornado Realty Trust’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that Vornado Realty Trust will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rheos Capital Works Inc. grew its position in shares of Vornado Realty Trust by 55.1% during the fourth quarter. Rheos Capital Works Inc. now owns 318,000 shares of the real estate investment trust’s stock valued at $8,984,000 after purchasing an additional 113,000 shares in the last quarter. Gotham Asset Management LLC grew its position in Vornado Realty Trust by 16.8% in the third quarter. Gotham Asset Management LLC now owns 321,993 shares of the real estate investment trust’s stock worth $7,303,000 after acquiring an additional 46,316 shares in the last quarter. Rush Island Management LP purchased a new position in Vornado Realty Trust in the third quarter worth about $27,901,000. Vanguard Group Inc. grew its position in Vornado Realty Trust by 0.5% in the third quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock worth $554,726,000 after acquiring an additional 116,504 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Vornado Realty Trust by 50.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 215,608 shares of the real estate investment trust’s stock worth $4,890,000 after acquiring an additional 72,750 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.