Vornado Realty Trust (NYSE:VNO) had its price objective cut by investment analysts at Argus from $83.00 to $76.00 in a research note issued to investors on Wednesday, March 14th. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Argus’ price objective points to a potential upside of 13.87% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. TheStreet upgraded shares of Vornado Realty Trust from a “c+” rating to a “b-” rating in a research report on Monday, December 18th. JPMorgan Chase cut shares of Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Friday, December 15th. Zacks Investment Research cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Sandler O’Neill set a $75.00 price target on shares of Vornado Realty Trust and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, SunTrust Banks upgraded shares of Vornado Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, January 22nd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.15.
NYSE VNO traded down $1.03 on Wednesday, hitting $66.74. The company’s stock had a trading volume of 587,702 shares, compared to its average volume of 1,110,359. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31. Vornado Realty Trust has a 1-year low of $64.13 and a 1-year high of $82.68. The stock has a market cap of $12,679.53, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 4.07 and a beta of 0.86.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.04. Vornado Realty Trust had a net margin of 9.10% and a return on equity of 5.44%. The firm had revenue of $536.23 million during the quarter, compared to analysts’ expectations of $532.81 million. During the same period in the prior year, the company posted $3.43 EPS. The company’s revenue was up 4.3% on a year-over-year basis. analysts predict that Vornado Realty Trust will post 3.87 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Endowment Management LP boosted its stake in Vornado Realty Trust by 248.6% during the fourth quarter. Global Endowment Management LP now owns 12,900 shares of the real estate investment trust’s stock worth $1,008,000 after acquiring an additional 9,200 shares in the last quarter. Amica Pension Fund Board of Trustees bought a new position in Vornado Realty Trust during the third quarter worth $2,739,000. Ffcm LLC bought a new position in Vornado Realty Trust during the third quarter worth $1,044,000. Neuberger Berman Group LLC boosted its stake in Vornado Realty Trust by 13.2% during the third quarter. Neuberger Berman Group LLC now owns 537,094 shares of the real estate investment trust’s stock worth $41,292,000 after acquiring an additional 62,429 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Vornado Realty Trust during the fourth quarter worth $3,625,000. Institutional investors own 88.82% of the company’s stock.
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About Vornado Realty Trust
Vornado Realty Trust is a preeminent owner, manager and developer of office and retail assets. 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.
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