Vornado Realty Trust (NYSE:VNO) Rating Lowered to Underweight at Piper Sandler

Vornado Realty Trust (NYSE:VNOGet Rating) was downgraded by equities research analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a research note issued to investors on Wednesday, The Fly reports.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Vornado Realty Trust from a “buy” rating to a “hold” rating and set a $47.00 price target on the stock. in a report on Wednesday, March 9th. Mizuho began coverage on shares of Vornado Realty Trust in a research note on Friday, April 22nd. They issued an “underperform” rating and a $38.00 price objective on the stock. Finally, StockNews.com began coverage on shares of Vornado Realty Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.00.

VNO stock opened at $38.71 on Wednesday. Vornado Realty Trust has a 52-week low of $37.00 and a 52-week high of $50.91. The company’s 50 day simple moving average is $43.37 and its 200-day simple moving average is $43.16. The company has a debt-to-equity ratio of 1.62, a current ratio of 4.35 and a quick ratio of 4.35. The firm has a market capitalization of $7.42 billion, a P/E ratio of 73.04 and a beta of 1.25.

Vornado Realty Trust (NYSE:VNOGet Rating) last released its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.08. Vornado Realty Trust had a net margin of 11.07% and a return on equity of 2.52%. During the same quarter last year, the company earned $0.65 EPS. Sell-side analysts predict that Vornado Realty Trust will post 3.27 EPS for the current fiscal year.

In other news, Director Michael D. Fascitelli sold 119,100 shares of the stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $41.97, for a total transaction of $4,998,627.00. Following the transaction, the director now owns 1,100,451 shares in the company, valued at approximately $46,185,928.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.87% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC bought a new stake in shares of Vornado Realty Trust during the 4th quarter worth $26,000. MCF Advisors LLC boosted its holdings in shares of Vornado Realty Trust by 49.0% during the 3rd quarter. MCF Advisors LLC now owns 934 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 307 shares during the period. UMB Bank N A MO bought a new stake in shares of Vornado Realty Trust during the 4th quarter worth $55,000. Tortoise Investment Management LLC boosted its holdings in shares of Vornado Realty Trust by 711.5% during the 4th quarter. Tortoise Investment Management LLC now owns 1,696 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 1,487 shares during the period. Finally, Ellevest Inc. boosted its holdings in shares of Vornado Realty Trust by 760.6% during the 4th quarter. Ellevest Inc. now owns 1,876 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 1,658 shares during the period. Institutional investors own 82.19% of the company’s stock.

Vornado Realty Trust Company Profile (Get Rating)

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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