Vornado Realty Trust (NYSE:VNO) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Vornado Realty Trust (NYSE:VNOGet Rating) from a sell rating to a hold rating in a research report report published on Wednesday morning.

A number of other research analysts also recently commented on the company. Truist Financial dropped their price target on Vornado Realty Trust from $41.00 to $34.00 and set a buy rating for the company in a research note on Thursday, June 30th. BMO Capital Markets downgraded Vornado Realty Trust from an outperform rating to a market perform rating and dropped their price target for the company from $52.00 to $40.00 in a research note on Tuesday, May 31st. Morgan Stanley dropped their price target on Vornado Realty Trust from $30.00 to $25.00 and set an underweight rating for the company in a research note on Tuesday, July 19th. Mizuho lowered their target price on Vornado Realty Trust from $38.00 to $32.00 and set an underperform rating for the company in a research note on Wednesday, July 6th. Finally, Piper Sandler lowered their target price on Vornado Realty Trust to $24.00 in a research note on Monday, July 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Vornado Realty Trust presently has an average rating of Hold and an average price target of $33.14.

Vornado Realty Trust Stock Down 0.8 %

VNO opened at $27.66 on Wednesday. Vornado Realty Trust has a fifty-two week low of $27.35 and a fifty-two week high of $47.26. The company has a debt-to-equity ratio of 1.53, a quick ratio of 4.70 and a current ratio of 5.13. The company has a market capitalization of $5.30 billion, a P/E ratio of 41.91 and a beta of 1.27. The stock has a fifty day moving average of $30.00 and a 200-day moving average of $37.42.

Vornado Realty Trust (NYSE:VNOGet Rating) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.60). The company had revenue of $453.49 million during the quarter, compared to analyst estimates of $430.43 million. Vornado Realty Trust had a net margin of 11.52% and a return on equity of 3.07%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. On average, equities analysts expect that Vornado Realty Trust will post 3.12 EPS for the current year.

Vornado Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 7.66%. The ex-dividend date of this dividend is Friday, August 5th. Vornado Realty Trust’s dividend payout ratio (DPR) is currently 321.22%.

Institutional Trading of Vornado Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Vornado Realty Trust during the fourth quarter worth about $756,928,000. State Street Corp grew its holdings in shares of Vornado Realty Trust by 10.8% during the first quarter. State Street Corp now owns 13,527,974 shares of the real estate investment trust’s stock worth $613,088,000 after purchasing an additional 1,319,443 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Vornado Realty Trust by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 3,556,637 shares of the real estate investment trust’s stock valued at $148,568,000 after acquiring an additional 38,091 shares during the last quarter. Invesco Ltd. boosted its holdings in Vornado Realty Trust by 3.6% in the fourth quarter. Invesco Ltd. now owns 2,472,681 shares of the real estate investment trust’s stock valued at $103,505,000 after acquiring an additional 87,057 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Vornado Realty Trust by 12.6% in the first quarter. Bank of New York Mellon Corp now owns 2,061,281 shares of the real estate investment trust’s stock valued at $93,416,000 after acquiring an additional 230,938 shares during the last quarter. 82.19% of the stock is currently owned by institutional investors.

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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