Vornado Realty Trust (NYSE:VNO) Receives Average Rating of "Reduce" from Brokerages

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) have been given an average rating of "Reduce" by the eleven research firms that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $24.80.

Several research firms have issued reports on VNO. The Goldman Sachs Group lowered their target price on shares of Vornado Realty Trust from $24.00 to $21.00 and set a "sell" rating on the stock in a research note on Thursday, February 22nd. Barclays began coverage on shares of Vornado Realty Trust in a research report on Wednesday, March 27th. They set an "underweight" rating and a $22.00 price objective on the stock. Truist Financial lifted their target price on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the stock a "hold" rating in a research report on Wednesday, December 20th. Morgan Stanley raised Vornado Realty Trust from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $24.00 to $26.00 in a report on Thursday, March 28th. Finally, Evercore ISI dropped their price target on Vornado Realty Trust from $28.00 to $26.00 and set an "underperform" rating on the stock in a research note on Thursday, February 15th.

Vornado Realty Trust Stock Up 2.3 %

NYSE VNO traded up $0.63 during mid-day trading on Wednesday, reaching $27.84. The stock had a trading volume of 1,800,298 shares, compared to its average volume of 2,290,801. The company has a fifty day moving average price of $26.52 and a 200 day moving average price of $25.19. The company has a debt-to-equity ratio of 1.82, a current ratio of 4.95 and a quick ratio of 4.95. Vornado Realty Trust has a 1 year low of $12.31 and a 1 year high of $32.21. The stock has a market cap of $5.30 billion, a PE ratio of 121.04 and a beta of 1.57.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings results 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 return on equity of 3.22% and a net margin of 5.82%. The business had revenue of $441.89 million during the quarter, compared to analysts' expectations of $453.82 million. During the same quarter in the prior year, the firm earned $0.72 EPS. The firm's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts expect that Vornado Realty Trust will post 2.3 earnings per share for the current year.

Hedge Funds Weigh In On Vornado Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Contravisory Investment Management Inc. bought a new position in shares of Vornado Realty Trust in the fourth quarter worth about $26,000. Financial Gravity Asset Management Inc. raised its stake in Vornado Realty Trust by 8,355.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 1,504 shares during the period. Global Retirement Partners LLC raised its stake in Vornado Realty Trust by 49.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,672 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 556 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in Vornado Realty Trust during the fourth quarter valued at approximately $40,000. Finally, Selway Asset Management bought a new position in shares of Vornado Realty Trust in the third quarter worth approximately $45,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

About Vornado Realty Trust

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.