Vornado Realty Trust (VNO) Raised to Outperform at Evercore ISI

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.

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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