Vornado Realty Trust (NYSE:VNO) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

JPMorgan Chase & Co. upgraded shares of Vornado Realty Trust (NYSE:VNO) from an underweight rating to a neutral rating in a report issued on Monday, MarketBeat reports. JPMorgan Chase & Co. currently has $41.00 price objective on the real estate investment trust’s stock.

Several other brokerages have also weighed in on VNO. LADENBURG THALM/SH SH began coverage on shares of Vornado Realty Trust in a research report on Monday, October 13th. They issued a “buy” rating and a $48.00 price objective on the stock. Bank of America lowered their price target on shares of Vornado Realty Trust from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Monday, August 25th. Scotiabank cut their price objective on shares of Vornado Realty Trust from $40.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, November 13th. Citigroup raised Vornado Realty Trust from a “sell” rating to a “neutral” rating and upped their target price for the company from $34.00 to $42.00 in a research report on Friday, September 12th. Finally, Evercore ISI increased their target price on Vornado Realty Trust from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust presently has an average rating of “Hold” and a consensus price target of $39.31.

Vornado Realty Trust Price Performance

NYSE:VNO opened at $34.98 on Monday. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.52. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 4.57 and a beta of 1.57. The stock’s 50 day moving average price is $38.44 and its two-hundred day moving average price is $38.63. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.40.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%.The business had revenue of $453.70 million for the quarter, compared to analyst estimates of $435.19 million. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, analysts anticipate that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Insider Activity at Vornado Realty Trust

In other news, EVP Haim Chera sold 30,000 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $39.64, for a total value of $1,189,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.42% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in shares of Vornado Realty Trust by 208.8% during the 1st quarter. Victory Capital Management Inc. now owns 101,054 shares of the real estate investment trust’s stock worth $3,738,000 after purchasing an additional 68,324 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in Vornado Realty Trust by 5.5% during the first quarter. Y Intercept Hong Kong Ltd now owns 11,397 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 597 shares during the period. KLP Kapitalforvaltning AS lifted its position in Vornado Realty Trust by 3.3% during the first quarter. KLP Kapitalforvaltning AS now owns 34,700 shares of the real estate investment trust’s stock worth $1,284,000 after purchasing an additional 1,100 shares during the period. Assetmark Inc. grew its stake in Vornado Realty Trust by 23.3% during the first quarter. Assetmark Inc. now owns 1,835 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 347 shares in the last quarter. Finally, HB Wealth Management LLC increased its holdings in Vornado Realty Trust by 4.9% in the 1st quarter. HB Wealth Management LLC now owns 11,677 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 549 shares during the period. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.