Vornado Realty Trust (VNO) Given Consensus Rating of “Buy” by Brokerages
Shares of Vornado Realty Trust (NYSE:VNO) have been given a consensus recommendation of “Buy” by the eleven analysts that are currently covering the company. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $109.44.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. TheStreet upgraded Vornado Realty Trust from a “c+” rating to a “b+” rating in a research report on Monday, February 13th. Barclays PLC lowered their price objective on Vornado Realty Trust from $103.00 to $101.00 and set a “hold” rating for the company in a research report on Monday, January 23rd. Deutsche Bank AG lifted their price objective on Vornado Realty Trust from $97.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Vornado Realty Trust from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 30th.
In other Vornado Realty Trust news, insider Mitchell N. Schear sold 15,000 shares of the firm’s stock in a transaction dated Thursday, December 29th. The stock was sold at an average price of $102.64, for a total transaction of $1,539,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.72% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. CAPROCK Group Inc. boosted its position in shares of Vornado Realty Trust by 6.9% in the second quarter. CAPROCK Group Inc. now owns 5,042 shares of the real estate investment trust’s stock worth $505,000 after buying an additional 327 shares during the period. Mason Street Advisors LLC bought a new position in shares of Vornado Realty Trust during the second quarter worth about $2,393,000. Kentucky Retirement Systems bought a new position in shares of Vornado Realty Trust during the second quarter worth about $1,511,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Vornado Realty Trust during the second quarter worth about $717,000. Finally, Williams Jones & Associates LLC bought a new position in shares of Vornado Realty Trust during the second quarter worth about $505,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Vornado Realty Trust (NYSE:VNO) opened at 104.11 on Thursday. The stock has a 50 day moving average price of $106.88 and a 200-day moving average price of $101.53. The firm has a market cap of $19.69 billion, a P/E ratio of 24.02 and a beta of 0.88. Vornado Realty Trust has a one year low of $86.35 and a one year high of $111.72.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, February 13th. The real estate investment trust reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.31 by $0.18. The firm earned $638.26 million during the quarter, compared to analyst estimates of $637.56 million. Vornado Realty Trust had a return on equity of 4.57% and a net margin of 36.19%. Vornado Realty Trust’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 earnings per share. Analysts predict that Vornado Realty Trust will post $2.07 EPS for the current fiscal year.
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About Vornado Realty Trust
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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