Vornado Realty Trust (NYSE:VNO) PT Lowered to $27.00

Vornado Realty Trust (NYSE:VNO) had its price objective reduced by equities researchers at Compass Point from $28.00 to $27.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Compass Point’s price target would suggest a potential upside of 9.49% from the company’s current price.

VNO has been the subject of several other reports. Barclays started coverage on Vornado Realty Trust in a report on Wednesday, March 27th. They set an “underweight” rating and a $22.00 target price for the company. Morgan Stanley upgraded shares of Vornado Realty Trust from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Evercore ISI decreased their price objective on shares of Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group lowered their price target on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, February 22nd. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, Vornado Realty Trust has a consensus rating of “Reduce” and a consensus target price of $25.00.

Vornado Realty Trust Price Performance

Shares of NYSE:VNO opened at $24.66 on Wednesday. The stock’s 50 day moving average price is $26.66 and its 200 day moving average price is $25.96. The company has a debt-to-equity ratio of 1.82, a current ratio of 4.95 and a quick ratio of 4.95. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 164.40 and a beta of 1.57. Vornado Realty Trust has a 12 month low of $12.31 and a 12 month high of $32.21.

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

Institutional Trading of Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in VNO. Vanguard Group Inc. lifted its stake in shares of Vornado Realty Trust by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 24,458,815 shares of the real estate investment trust’s stock valued at $554,726,000 after purchasing an additional 116,504 shares during the last quarter. Norges Bank acquired a new stake in shares of Vornado Realty Trust in the fourth quarter worth about $489,922,000. Putnam Investments LLC boosted its stake in shares of Vornado Realty Trust by 3.0% during the 4th quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock worth $281,897,000 after acquiring an additional 288,952 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Vornado Realty Trust during the 3rd quarter valued at about $132,326,000. Finally, Deutsche Bank AG raised its stake in shares of 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 in the last quarter. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

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.