Vornado Realty Trust (NYSE:VNO) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Vornado Realty Trust (NYSE:VNOGet Rating) from a sell rating to a hold rating in a report published on Wednesday.

VNO has been the topic of several other reports. Mizuho dropped their target price on shares of Vornado Realty Trust from $38.00 to $32.00 and set an underperform rating on the stock in a report on Wednesday, July 6th. Truist Financial dropped their target price on shares of Vornado Realty Trust from $41.00 to $34.00 and set a buy rating on the stock in a report on Thursday, June 30th. Piper Sandler dropped their target price on shares of Vornado Realty Trust to $24.00 in a report on Monday, July 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Vornado Realty Trust from $44.00 to $33.00 in a report on Wednesday, July 20th. Finally, BMO Capital Markets downgraded shares of Vornado Realty Trust from an outperform rating to a market perform rating and dropped their target price for the stock from $52.00 to $40.00 in a report on Tuesday, May 31st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of Hold and an average target price of $33.14.

Vornado Realty Trust Stock Performance

Shares of NYSE:VNO opened at $27.66 on Wednesday. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 41.91 and a beta of 1.27. The firm’s 50 day simple moving average is $30.00 and its 200 day simple moving average is $37.42. The company has a debt-to-equity ratio of 1.53, a current ratio of 5.13 and a quick ratio of 4.70. Vornado Realty Trust has a fifty-two week low of $27.35 and a fifty-two week high of $47.26.

Vornado Realty Trust (NYSE:VNOGet Rating) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.60). The firm 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 business’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. As a group, sell-side analysts forecast that Vornado Realty Trust will post 3.12 earnings per share for the current year.

Vornado Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be paid a $0.53 dividend. The ex-dividend date is Friday, August 5th. This represents a $2.12 annualized dividend and a dividend yield of 7.66%. Vornado Realty Trust’s dividend payout ratio is presently 321.22%.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in shares of Vornado Realty Trust by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 16,373 shares of the real estate investment trust’s stock valued at $685,000 after buying an additional 505 shares in the last quarter. Elo Mutual Pension Insurance Co grew its stake in shares of Vornado Realty Trust by 4.9% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 12,104 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 564 shares in the last quarter. Pictet Asset Management SA grew its stake in shares of Vornado Realty Trust by 0.5% in the fourth quarter. Pictet Asset Management SA now owns 120,951 shares of the real estate investment trust’s stock valued at $5,063,000 after buying an additional 587 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Vornado Realty Trust by 6.5% in the first quarter. Crossmark Global Holdings Inc. now owns 9,890 shares of the real estate investment trust’s stock valued at $448,000 after buying an additional 600 shares in the last quarter. Finally, CWM LLC bought a new position in shares of Vornado Realty Trust in the fourth quarter valued at $26,000. 82.19% of the stock is owned by institutional investors.

About Vornado Realty Trust

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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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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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