Vornado Realty Trust (VNO) Receives $95.73 Consensus PT from Brokerages
Shares of Vornado Realty Trust (NYSE:VNO) have been given an average recommendation of “Buy” by the fourteen research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $96.27.
Several research firms have weighed in on VNO. Barclays PLC dropped their price target on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Morgan Stanley reiterated an “equal weight” rating and set a $95.00 price target (down previously from $111.00) on shares of Vornado Realty Trust in a research note on Tuesday, June 13th. BidaskClub upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Evercore ISI upgraded Vornado Realty Trust from an “in-line” rating to an “outperform” rating and set a $106.00 price target on the stock in a research note on Monday, July 10th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $113.00 price target (up previously from $112.00) on shares of Vornado Realty Trust in a research note on Thursday, June 22nd.
Vornado Realty Trust (NYSE:VNO) traded up 1.45% during midday trading on Friday, hitting $78.93. The company had a trading volume of 1,353,837 shares. Vornado Realty Trust has a 52 week low of $69.81 and a 52 week high of $90.32. The stock has a 50 day moving average price of $75.30 and a 200-day moving average price of $77.11. The stock has a market capitalization of $14.95 billion, a PE ratio of 17.05 and a beta of 1.00.
Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.09. The business had revenue of $626.04 million for the quarter, compared to the consensus estimate of $633.19 million. Vornado Realty Trust had a return on equity of 4.51% and a net margin of 37.96%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. On average, equities analysts predict that Vornado Realty Trust will post $1.22 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of VNO. Bessemer Group Inc. boosted its stake in shares of Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 419 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of Vornado Realty Trust by 13,866.7% in the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,248 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of Vornado Realty Trust in the first quarter worth about $139,000. Exane Asset Management purchased a new stake in shares of Vornado Realty Trust in the second quarter worth about $187,000. Finally, Global X Management Co. LLC boosted its stake in shares of Vornado Realty Trust by 44.6% in the first quarter. Global X Management Co. LLC now owns 2,041 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 630 shares during the last quarter. Hedge funds and other institutional investors own 85.95% of the company’s stock.
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Vornado Realty Trust Company Profile
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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