Shares of Vornado Realty Trust (NYSE:VNO) have received a consensus recommendation of “Hold” from the thirteen brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $78.50.
Several equities research analysts have recently weighed in on VNO shares. Citigroup decreased their price target on Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 29th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price target on shares of Vornado Realty Trust in a report on Monday, October 29th. Zacks Investment Research reiterated a “hold” rating on shares of Vornado Realty Trust in a report on Saturday, November 17th. Sandler O’Neill lowered Vornado Realty Trust from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Finally, JPMorgan Chase & Co. downgraded Vornado Realty Trust from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $74.00 to $72.00 in a research report on Wednesday, December 19th.
In related news, Director Michael D. Fascitelli sold 126,074 shares of the business’s stock in a transaction dated Monday, January 14th. The stock was sold at an average price of $64.23, for a total value of $8,097,733.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Joseph Macnow sold 23,000 shares of the company’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $70.80, for a total value of $1,628,400.00. The disclosure for this sale can be found here. Insiders own 10.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of VNO. Bank of Montreal Can boosted its stake in shares of Vornado Realty Trust by 50.1% during the 3rd quarter. Bank of Montreal Can now owns 199,750 shares of the real estate investment trust’s stock valued at $14,583,000 after buying an additional 66,635 shares during the period. DNB Asset Management AS lifted its stake in Vornado Realty Trust by 2.3% in the fourth quarter. DNB Asset Management AS now owns 20,496 shares of the real estate investment trust’s stock valued at $1,271,000 after acquiring an additional 468 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in Vornado Realty Trust by 3.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 32,502 shares of the real estate investment trust’s stock worth $2,373,000 after acquiring an additional 972 shares during the period. ING Groep NV acquired a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at approximately $701,000. Finally, Landsberg Bennett & Dubbaneh LLC acquired a new stake in Vornado Realty Trust during the 4th quarter worth approximately $431,000. 79.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:VNO opened at $68.42 on Tuesday. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 18.20, a P/E/G ratio of 6.96 and a beta of 1.14. Vornado Realty Trust has a 12-month low of $59.48 and a 12-month high of $77.59. The company has a debt-to-equity ratio of 2.33, a current ratio of 4.00 and a quick ratio of 4.00.
Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, February 11th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.72). Vornado Realty Trust had a net margin of 20.22% and a return on equity of 8.15%. The company had revenue of $543.42 million during the quarter, compared to analyst estimates of $544.79 million. During the same quarter last year, the company earned $1.10 EPS. Equities analysts forecast that Vornado Realty Trust will post 3.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Monday, January 28th were given a dividend of $0.66 per share. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.63. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date was Friday, January 25th. Vornado Realty Trust’s payout ratio is presently 70.21%.
Vornado Realty Trust Company Profile
Vornado's portfolio is concentrated in the nation's key market ? New York City ? 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 2017.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
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