Vornado Realty Trust (NYSE:VNO – Get Rating) had its price target lowered by Evercore ISI from $35.00 to $34.00 in a research note released on Monday, The Fly reports. The firm currently has an in-line rating on the real estate investment trust's stock.
VNO has been the topic of several other research reports. Truist Financial lowered their price target on Vornado Realty Trust from $34.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, September 14th. BMO Capital Markets lowered Vornado Realty Trust from an outperform rating to a market perform rating and cut their target price for the stock from $52.00 to $40.00 in a research note on Tuesday, May 31st. Piper Sandler decreased their price target on shares of Vornado Realty Trust to $24.00 in a research note on Monday, July 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Vornado Realty Trust from $44.00 to $33.00 in a research note on Wednesday, July 20th. Finally, Morgan Stanley cut their price objective on shares of Vornado Realty Trust from $25.00 to $24.00 and set an underweight rating for the company in a research note on Friday, September 9th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $32.75.
Get Vornado Realty Trust alerts:Vornado Realty Trust Stock Down 3.7 %
VNO stock opened at $25.16 on Monday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 5.13 and a current ratio of 5.13. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 38.12 and a beta of 1.29. Vornado Realty Trust has a fifty-two week low of $25.16 and a fifty-two week high of $47.26. The stock has a fifty day moving average of $28.19 and a 200-day moving average of $34.08.
Vornado Realty Trust (NYSE:VNO – Get Rating) last issued its earnings results on Monday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.60). Vornado Realty Trust had a return on equity of 3.07% and a net margin of 11.52%. The company had revenue of $453.49 million during the quarter, compared to the consensus estimate of $430.43 million. During the same quarter in the prior year, the business earned $0.69 EPS. The firm's revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $2.12 annualized dividend and a dividend yield of 8.43%. Vornado Realty Trust's dividend payout ratio is 321.22%.
Institutional Investors Weigh In On Vornado Realty Trust
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Vornado Realty Trust in the fourth quarter worth $756,928,000. State Street Corp raised its position in shares of Vornado Realty Trust by 3.3% in the 2nd quarter. State Street Corp now owns 13,972,346 shares of the real estate investment trust's stock worth $399,469,000 after purchasing an additional 444,372 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Vornado Realty Trust by 10.9% in the 2nd quarter. Franklin Resources Inc. now owns 7,854,642 shares of the real estate investment trust's stock worth $224,563,000 after purchasing an additional 773,547 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Vornado Realty Trust by 22.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,868,704 shares of the real estate investment trust's stock worth $139,196,000 after purchasing an additional 891,435 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Vornado Realty Trust by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 3,556,637 shares of the real estate investment trust's stock worth $148,568,000 after buying an additional 38,091 shares in the last quarter. Hedge funds and other institutional investors own 74.67% of the company's stock.
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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