Vornado Realty Trust (NYSE:VNO) Price Target Cut to $27.00

Vornado Realty Trust (NYSE:VNO) had its price objective lowered by analysts at Compass Point from $28.00 to $27.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Compass Point’s target price indicates a potential upside of 13.92% from the company’s current price.

Several other brokerages have also weighed in on VNO. Evercore ISI dropped their price objective on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating on the stock in a report on Thursday, February 15th. The Goldman Sachs Group cut their target price on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 22nd. Barclays initiated coverage on shares of Vornado Realty Trust in a research report on Wednesday, March 27th. They issued an “underweight” rating and a $22.00 price objective for the company. Finally, Morgan Stanley raised shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $24.00 to $26.00 in a research report on Thursday, March 28th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, Vornado Realty Trust presently has a consensus rating of “Reduce” and a consensus target price of $25.00.

Vornado Realty Trust Trading Down 2.1 %

NYSE VNO traded down $0.51 on Wednesday, hitting $23.70. The company’s stock had a trading volume of 1,508,382 shares, compared to its average volume of 2,219,482. The firm has a market cap of $4.51 billion, a PE ratio of 157.87 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 company’s 50-day moving average is $26.72 and its 200 day moving average is $25.99. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.82.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.55). The company had revenue of $441.89 million for the quarter, compared to the consensus estimate of $453.82 million. Vornado Realty Trust had a return on equity of 3.22% and a net margin of 5.82%. Vornado Realty Trust’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. As a group, analysts predict that Vornado Realty Trust will post 2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in Vornado Realty Trust in the fourth quarter worth $489,922,000. Kemnay Advisory Services Inc. purchased a new stake in Vornado Realty Trust in the 3rd quarter worth about $132,326,000. Deutsche Bank AG raised its stake 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 period. Rush Island Management LP purchased a new stake in Vornado Realty Trust during the third quarter valued at about $27,901,000. Finally, Nomura Holdings Inc. boosted its position in Vornado Realty Trust by 2,410.2% during the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock worth $27,488,000 after purchasing an additional 934,271 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

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.