Vornado Realty Trust (NYSE:VNO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, March 9th.
According to Zacks, “Vornado recently reported better-than-expected performance for fourth-quarter 2017 with both funds from operations (FFO) per share and total revenues exceeding estimates. Results reflected growth in occupancy and same-store net operating income (NOI) in the New York portfolio. The company has a portfolio of premium assets in high-rent, high barrier-to-entry markets as well as a diverse tenant base. Its robust balance sheet also keeps us optimistic. Moreover, as part of its portfolio repositioning efforts, the company has been aggressively disposing its assets. However, dilutive impact on earnings from divestitures of assets cannot be bypassed in the near term. Also, intense competition and hike in interest rates remain concerns. Further, shares of Vornado have underperformed the industry in the past three months.”
Other research analysts also recently issued reports about the stock. TheStreet downgraded shares of Vornado Realty Trust from a “b-” rating to a “c” rating in a research report on Tuesday, February 13th. Sandler O’Neill set a $75.00 price objective on shares of Vornado Realty Trust and gave the company a “buy” rating in a research report on Wednesday, February 14th. SunTrust Banks set a $78.00 price objective on shares of Vornado Realty Trust and gave the company a “buy” rating in a research report on Tuesday, March 6th. Barclays reissued a “hold” rating and issued a $75.00 target price on shares of Vornado Realty Trust in a research report on Wednesday, January 31st. Finally, JPMorgan Chase downgraded shares of Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 target price for the company. in a research report on Friday, December 15th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Vornado Realty Trust presently has a consensus rating of “Buy” and an average price target of $86.15.
VNO traded down $0.50 on Friday, reaching $66.80. 1,255,446 shares of the company traded hands, compared to its average volume of 1,239,849. Vornado Realty Trust has a 52-week low of $64.13 and a 52-week high of $82.68. The company has a market capitalization of $12,785.92, a PE ratio of 17.96, a PEG ratio of 4.13 and a beta of 0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.31 and a current ratio of 0.31.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. Vornado Realty Trust had a net margin of 9.10% and a return on equity of 5.44%. The firm had revenue of $536.23 million for the quarter, compared to the consensus estimate of $532.81 million. During the same period in the previous year, the firm posted $3.43 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. equities analysts forecast that Vornado Realty Trust will post 3.84 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of VNO. Fieldpoint Private Securities LLC acquired a new stake in shares of Vornado Realty Trust in the third quarter worth $100,000. Assetmark Inc. lifted its stake in shares of Vornado Realty Trust by 5,978.3% in the fourth quarter. Assetmark Inc. now owns 1,398 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,375 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Vornado Realty Trust in the fourth quarter worth $134,000. West Oak Capital LLC acquired a new stake in shares of Vornado Realty Trust in the fourth quarter worth $138,000. Finally, Huntington National Bank lifted its stake in shares of Vornado Realty Trust by 167.3% in the fourth quarter. Huntington National Bank now owns 1,903 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 1,191 shares during the last quarter. Institutional investors and hedge funds own 88.82% of the company’s stock.
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Vornado Realty Trust Company Profile
Vornado Realty Trust is a preeminent owner, manager and developer of office and retail assets. 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.
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