Vornado Realty Trust (NYSE:VNO) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Vornado Realty Trust (NYSE:VNO) have been assigned a consensus recommendation of “Reduce” from the ten research firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to 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 analysts have issued reports on the company. The Goldman Sachs Group dropped their price target on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Evercore ISI dropped their price target on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, February 15th. Barclays began coverage on shares of Vornado Realty Trust in a research note on Wednesday, March 27th. They set an “underweight” rating and a $22.00 target price on the stock. Finally, Morgan Stanley raised shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $24.00 to $26.00 in a research note on Thursday, March 28th.

Vornado Realty Trust Price Performance

NYSE VNO opened at $26.26 on Friday. The stock has a market capitalization of $5.00 billion, a P/E ratio of 114.17 and a beta of 1.57. Vornado Realty Trust has a 1 year low of $12.31 and a 1 year high of $32.21. The business’s fifty day moving average is $26.66 and its two-hundred day moving average is $25.71. 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:VNO) last posted its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.55). The company had revenue of $441.89 million during the quarter, compared to the consensus estimate of $453.82 million. Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. Vornado Realty Trust’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts forecast that Vornado Realty Trust will post 2.3 earnings per share for the current fiscal year.

Institutional Trading of Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Vornado Realty Trust during the 4th quarter valued at $489,922,000. Kemnay Advisory Services Inc. purchased a new position in shares of Vornado Realty Trust during the 3rd quarter valued at $132,326,000. Deutsche Bank AG grew its holdings in shares of Vornado Realty Trust by 141.9% during 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 in the last quarter. Rush Island Management LP purchased a new position in shares of Vornado Realty Trust during the 3rd quarter valued at $27,901,000. Finally, Nomura Holdings Inc. grew its holdings in shares of Vornado Realty Trust by 2,410.2% during the 4th quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after acquiring an additional 934,271 shares in the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

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.