Vornado Realty Trust (NYSE:VNO) had its target price lifted by analysts at SunTrust Banks to $81.00 in a note issued to investors on Wednesday. The brokerage presently has an “average” rating on the real estate investment trust’s stock. SunTrust Banks’ price target would suggest a potential upside of 9.93% from the company’s current price. SunTrust Banks also issued estimates for Vornado Realty Trust’s Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $1.00 EPS, FY2018 earnings at $3.84 EPS, FY2019 earnings at $3.98 EPS, FY2020 earnings at $4.29 EPS, FY2021 earnings at $4.86 EPS and FY2022 earnings at $5.05 EPS.
Several other equities analysts also recently issued reports on VNO. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of Vornado Realty Trust in a research report on Monday, April 30th. Evercore ISI raised Vornado Realty Trust from an “in-line” rating to an “outperform” rating in a research report on Monday, June 11th. ValuEngine downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Deutsche Bank cut their price target on Vornado Realty Trust from $82.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley cut their price target on Vornado Realty Trust from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Thursday, June 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $80.83.
NYSE VNO opened at $73.68 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.26 and a current ratio of 0.26. Vornado Realty Trust has a 1 year low of $64.13 and a 1 year high of $80.92. The firm has a market capitalization of $13.95 billion, a P/E ratio of 19.75, a PEG ratio of 8.02 and a beta of 0.88.
Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, April 30th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.59). Vornado Realty Trust had a net margin of 7.01% and a return on equity of 5.04%. The firm had revenue of $536.43 million during the quarter, compared to analyst estimates of $533.54 million. During the same period in the previous year, the company earned $0.84 earnings per share. Vornado Realty Trust’s revenue was up 5.6% on a year-over-year basis. analysts expect that Vornado Realty Trust will post 3.75 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Vornado Realty Trust during the 1st quarter worth about $336,000. Allianz Asset Management GmbH boosted its stake in shares of Vornado Realty Trust by 126.1% during the 1st quarter. Allianz Asset Management GmbH now owns 368,986 shares of the real estate investment trust’s stock worth $24,833,000 after acquiring an additional 205,795 shares in the last quarter. WINTON GROUP Ltd boosted its stake in shares of Vornado Realty Trust by 58.9% during the 1st quarter. WINTON GROUP Ltd now owns 9,338 shares of the real estate investment trust’s stock worth $628,000 after acquiring an additional 3,462 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of Vornado Realty Trust by 20.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 313,152 shares of the real estate investment trust’s stock worth $21,075,000 after acquiring an additional 52,279 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Vornado Realty Trust by 6.5% during the 1st quarter. Legal & General Group Plc now owns 1,545,974 shares of the real estate investment trust’s stock worth $104,055,000 after acquiring an additional 94,700 shares in the last quarter. 80.12% of the stock is currently owned by institutional investors.
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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