Vornado Realty Trust (NYSE:VNO) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Monday, MarketBeat reports.
Several other brokerages also recently commented on VNO. Barclays PLC lifted their target price on Vornado Realty Trust from $101.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 28th. Morgan Stanley reiterated an “equal weight” rating and set a $95.00 target price (down from $111.00) on shares of Vornado Realty Trust in a research note on Tuesday, June 13th. TheStreet downgraded Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. Deutsche Bank AG reduced their target price on Vornado Realty Trust from $105.00 to $103.00 and set a “hold” rating for the company in a research note on Thursday, May 25th. Finally, Zacks Investment Research downgraded Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $106.17.
Shares of Vornado Realty Trust (NYSE VNO) traded up 0.44% during midday trading on Monday, reaching $94.33. The company’s stock had a trading volume of 368,568 shares. Vornado Realty Trust has a 12 month low of $86.35 and a 12 month high of $111.72. The company has a 50-day moving average price of $93.31 and a 200-day moving average price of $101.07. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 18.22 and a beta of 0.96.
Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.64. Vornado Realty Trust had a return on equity of 6.84% and a net margin of 42.35%. The company had revenue of $620.85 million during the quarter, compared to the consensus estimate of $642 million. During the same period in the previous year, the company posted ($0.61) EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that Vornado Realty Trust will post $1.50 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. increased its stake in Vornado Realty Trust by 2.8% in the first quarter. Levin Capital Strategies L.P. now owns 208,148 shares of the real estate investment trust’s stock valued at $20,879,000 after buying an additional 5,610 shares during the period. Clinton Group Inc. purchased a new stake in Vornado Realty Trust during the first quarter valued at about $11,386,000. Dynamic Technology Lab Private Ltd purchased a new stake in Vornado Realty Trust during the first quarter valued at about $841,000. Glen Harbor Capital Management LLC increased its stake in Vornado Realty Trust by 9.0% in the first quarter. Glen Harbor Capital Management LLC now owns 6,666 shares of the real estate investment trust’s stock valued at $669,000 after buying an additional 550 shares during the period. Finally, Stevens Capital Management LP purchased a new stake in Vornado Realty Trust during the first quarter valued at about $12,459,000. Institutional investors and hedge funds own 91.92% of the company’s stock.
About Vornado Realty Trust
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
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