Mizuho Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $40.00

Vornado Realty Trust (NYSE:VNO) had its target price trimmed by Mizuho from $43.00 to $40.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.

VNO has been the subject of a number of other reports. Truist Financial raised their price objective on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Scotiabank dropped their price target on shares of Vornado Realty Trust from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Evercore ISI lifted their price objective on Vornado Realty Trust from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Citigroup upgraded Vornado Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the company from $34.00 to $42.00 in a research note on Friday, September 12th. Finally, Piper Sandler dropped their target price on Vornado Realty Trust from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.08.

Vornado Realty Trust Price Performance

Shares of NYSE:VNO opened at $35.30 on Friday. The firm has a market capitalization of $6.78 billion, a PE ratio of 8.40, a PEG ratio of 6.23 and a beta of 1.47. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 1.42. Vornado Realty Trust has a 1-year low of $29.68 and a 1-year high of $45.53. The business’s 50 day moving average is $36.95 and its 200-day moving average is $38.36.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The business had revenue of $453.70 million during the quarter, compared to analyst estimates of $435.19 million. During the same period in the prior year, the company posted $0.52 earnings per share. Vornado Realty Trust’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Vornado Realty Trust Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, December 29th. Stockholders of record on Thursday, December 18th will be issued a $0.74 dividend. This represents a dividend yield of 217.0%. The ex-dividend date of this dividend is Thursday, December 18th. Vornado Realty Trust’s payout ratio is presently 17.62%.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its holdings in Vornado Realty Trust by 1.3% in the second quarter. US Bancorp DE now owns 20,545 shares of the real estate investment trust’s stock valued at $786,000 after acquiring an additional 259 shares during the last quarter. Norges Bank acquired a new position in Vornado Realty Trust during the 2nd quarter valued at about $665,094,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Vornado Realty Trust by 48.0% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,439,438 shares of the real estate investment trust’s stock valued at $55,044,000 after purchasing an additional 466,621 shares during the last quarter. Truist Financial Corp grew its position in shares of Vornado Realty Trust by 18.8% during the 2nd quarter. Truist Financial Corp now owns 7,677 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 1,214 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Vornado Realty Trust by 2.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,754,069 shares of the real estate investment trust’s stock worth $105,316,000 after buying an additional 55,976 shares during the period. 90.02% of the stock is owned by institutional investors and hedge funds.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.