Shares of Vornado Realty Trust (NYSE:VNO) have been assigned an average rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.86.
VNO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Vornado Realty Trust from $41.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, April 19th. Bank of America restated an “underperform” rating and issued a $44.00 price objective (down previously from $48.00) on shares of Vornado Realty Trust in a research report on Tuesday, April 20th. Morgan Stanley lifted their target price on Vornado Realty Trust from $37.00 to $41.00 and gave the company an “underweight” rating in a research note on Friday, April 16th. Finally, Zacks Investment Research raised Vornado Realty Trust from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research note on Friday, February 26th.
Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Vornado Realty Trust during the fourth quarter worth $675,196,000. JPMorgan Chase & Co. lifted its holdings in Vornado Realty Trust by 40.8% during the first quarter. JPMorgan Chase & Co. now owns 5,254,656 shares of the real estate investment trust’s stock worth $238,509,000 after acquiring an additional 1,522,686 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Vornado Realty Trust by 112.8% in the first quarter. Nuveen Asset Management LLC now owns 2,425,345 shares of the real estate investment trust’s stock valued at $110,087,000 after acquiring an additional 1,285,736 shares during the period. FIL Ltd increased its holdings in shares of Vornado Realty Trust by 1,496.3% in the first quarter. FIL Ltd now owns 1,277,104 shares of the real estate investment trust’s stock worth $57,968,000 after acquiring an additional 1,197,098 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in Vornado Realty Trust by 1,673.8% during the 4th quarter. Korea Investment CORP now owns 785,789 shares of the real estate investment trust’s stock worth $29,341,000 after purchasing an additional 741,489 shares in the last quarter. Institutional investors own 67.14% of the company’s stock.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, May 3rd. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.57). The business had revenue of $379.98 million during the quarter, compared to the consensus estimate of $377.79 million. Vornado Realty Trust had a negative net margin of 20.09% and a positive return on equity of 1.70%. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. On average, research analysts predict that Vornado Realty Trust will post 2.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Monday, May 10th were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, May 7th. This represents a $2.12 annualized dividend and a dividend yield of 4.45%. Vornado Realty Trust’s dividend payout ratio is currently 83.79%.
About Vornado Realty Trust
Vornado's portfolio is concentrated in the nation's key market Â New York City Â 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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