Vornado Realty Trust (NYSE:VNO) Receives Average Rating of “Hold” from Brokerages

Shares of Vornado Realty Trust (NYSE:VNO) have received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.55.

A number of research analysts have issued reports on VNO shares. Scotiabank reduced their target price on shares of Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Weiss Ratings lowered shares of Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. lifted their price target on Vornado Realty Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, September 15th. LADENBURG THALM/SH SH boosted their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, Citigroup increased their price objective on Vornado Realty Trust from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, August 10th.

Vornado Realty Trust Stock Performance

VNO stock opened at $34.73 on Friday. Vornado Realty Trust has a 1 year low of $24.57 and a 1 year high of $41.85. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 1,737.17, a PEG ratio of 1.55 and a beta of 1.53. The company has a debt-to-equity ratio of 1.56, a quick ratio of 5.24 and a current ratio of 5.24. The stock’s fifty day moving average is $37.70 and its two-hundred day moving average is $34.12.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm had revenue of $462.24 million for the quarter, compared to the consensus estimate of $454.46 million. During the same quarter in the prior year, the company posted $0.56 EPS. The firm’s revenue was up 4.7% on a year-over-year basis. On average, research analysts predict that Vornado Realty Trust will post 2.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VNO. Parkside Financial Bank & Trust increased its holdings in shares of Vornado Realty Trust by 67.5% during the second quarter. Parkside Financial Bank & Trust now owns 804 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 324 shares during the period. State of Michigan Retirement System lifted its holdings in Vornado Realty Trust by 1.0% in the first quarter. State of Michigan Retirement System now owns 38,500 shares of the real estate investment trust’s stock worth $1,001,000 after purchasing an additional 400 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Vornado Realty Trust by 1.9% in the first quarter. Oregon Public Employees Retirement Fund now owns 32,833 shares of the real estate investment trust’s stock worth $853,000 after purchasing an additional 600 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Vornado Realty Trust by 6.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,533 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 680 shares during the period. Finally, Arjuna Capital grew its position in Vornado Realty Trust by 1.0% in the 1st quarter. Arjuna Capital now owns 67,703 shares of the real estate investment trust’s stock valued at $1,760,000 after buying an additional 686 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company’s portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado’s activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.