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Vornado Realty Trust (NYSE:VNO) Price Target Cut to $34.00 by Analysts at Evercore ISI

Defense World ·  Sep 20, 2022 03:41

Vornado Realty Trust (NYSE:VNO – Get Rating) had its price target cut by Evercore ISI from $35.00 to $34.00 in a report released on Monday, The Fly reports. They currently have an in-line rating on the real estate investment trust's stock.

VNO has been the topic of a number of other reports. StockNews.com downgraded Vornado Realty Trust from a hold rating to a sell rating in a research note on Thursday, September 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Vornado Realty Trust from $44.00 to $33.00 in a research report on Wednesday, July 20th. Mizuho decreased their target price on Vornado Realty Trust from $32.00 to $30.00 and set an underperform rating for the company in a research report on Wednesday, August 24th. Truist Financial decreased their target price on Vornado Realty Trust from $34.00 to $33.00 and set a buy rating for the company in a research report on Wednesday, September 14th. Finally, Morgan Stanley decreased their target price on Vornado Realty Trust from $25.00 to $24.00 and set an underweight rating for the company in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Vornado Realty Trust currently has an average rating of Hold and a consensus target price of $32.75.

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Vornado Realty Trust Stock Up 0.2 %

Shares of NYSE:VNO opened at $26.79 on Monday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 40.59 and a beta of 1.29. The company has a debt-to-equity ratio of 1.53, a current ratio of 5.13 and a quick ratio of 5.13. The business's 50-day moving average is $28.33 and its 200-day moving average is $34.20. Vornado Realty Trust has a 1 year low of $25.27 and a 1 year high of $47.26.

Vornado Realty Trust (NYSE:VNO – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.60). The business had revenue of $453.49 million during the quarter, compared to analyst estimates of $430.43 million. Vornado Realty Trust had a net margin of 11.52% and a return on equity of 3.07%. The firm's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Equities research analysts predict that Vornado Realty Trust will post 3.1 earnings per share for the current year.

Vornado Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date of this dividend was Friday, August 5th. Vornado Realty Trust's dividend payout ratio is currently 321.22%.

Institutional Trading of Vornado Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at approximately $756,928,000. State Street Corp grew its holdings in shares of Vornado Realty Trust by 10.8% in the first quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust's stock valued at $613,088,000 after acquiring an additional 1,319,443 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Vornado Realty Trust by 1,840.4% in the second quarter. Millennium Management LLC now owns 1,335,925 shares of the real estate investment trust's stock valued at $38,194,000 after acquiring an additional 1,267,078 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Vornado Realty Trust by 22.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust's stock valued at $139,196,000 after acquiring an additional 891,435 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Vornado Realty Trust by 10.9% in the second quarter. Franklin Resources Inc. now owns 7,854,642 shares of the real estate investment trust's stock valued at $224,563,000 after acquiring an additional 773,547 shares in the last quarter. 74.67% of the stock is owned by institutional investors.

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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