Vornado Realty Trust (NYSE:VNO) Given Average Recommendation of “Reduce” by Analysts

Shares of Vornado Realty Trust (NYSE:VNOGet Free Report) have been assigned an average rating of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.80.

Several research firms have issued reports on VNO. TheStreet upgraded shares of Vornado Realty Trust from a “d+” rating to a “c-” rating in a research note on Thursday, December 28th. Truist Financial lifted their price target on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, December 20th. The Goldman Sachs Group decreased their target price on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, February 22nd. BMO Capital Markets upgraded Vornado Realty Trust from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $25.00 to $31.00 in a research note on Friday, December 15th. Finally, Morgan Stanley upgraded Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $24.00 to $26.00 in a research report on Thursday, March 28th.

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Vornado Realty Trust Price Performance

Shares of NYSE:VNO opened at $27.21 on Wednesday. Vornado Realty Trust has a 52 week low of $12.31 and a 52 week high of $32.21. The firm’s fifty day moving average is $26.52 and its 200-day moving average is $25.17. The firm has a market cap of $5.18 billion, a PE ratio of 118.30 and a beta of 1.57. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95.

Vornado Realty Trust (NYSE:VNOGet Free Report) last released its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. The firm had revenue of $441.89 million for the quarter, compared to analysts’ expectations of $453.82 million. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts predict that Vornado Realty Trust will post 2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNO. Norges Bank bought a new position in Vornado Realty Trust in the fourth quarter worth approximately $376,294,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Vornado Realty Trust during the 3rd quarter worth about $132,326,000. BlackRock Inc. raised its position in shares of Vornado Realty Trust by 30.0% during the 1st quarter. BlackRock Inc. now owns 20,448,221 shares of the real estate investment trust’s stock worth $314,289,000 after purchasing an additional 4,723,170 shares during the last quarter. Deutsche Bank AG raised its holdings in Vornado Realty Trust by 141.9% in the 3rd quarter. Deutsche Bank AG now owns 4,238,442 shares of the real estate investment trust’s stock valued at $96,128,000 after acquiring an additional 2,486,439 shares during the last quarter. Finally, Waterfront Capital Partners LLC acquired a new stake in Vornado Realty Trust in the 2nd quarter valued at about $26,852,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

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Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.

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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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