Vornado Realty Trust (NYSE:VNO) Receives $36.58 Consensus Target Price from Analysts

Vornado Realty Trust (NYSE:VNO) has been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $36.58.

A number of research firms recently commented on VNO. Bank of America lifted their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a research report on Tuesday, November 12th. Scotiabank increased their price target on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. The Goldman Sachs Group boosted their price objective on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $44.00 target price (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th.

Vornado Realty Trust Trading Up 1.0 %

Shares of VNO stock opened at $44.66 on Monday. The company has a market cap of $8.51 billion, a PE ratio of -154.00 and a beta of 1.63. Vornado Realty Trust has a 1 year low of $22.42 and a 1 year high of $46.63. The stock’s 50 day simple moving average is $42.55 and its two-hundred day simple moving average is $34.89. The company has a debt-to-equity ratio of 1.93, a current ratio of 4.97 and a quick ratio of 4.97.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.61). The company had revenue of $443.26 million for the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. Research analysts predict that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Vornado Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 16th will be given a dividend of $0.74 per share. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 6.63%. Vornado Realty Trust’s dividend payout ratio is presently -255.17%.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Vornado Realty Trust by 331.0% during the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 844 shares during the period. Assetmark Inc. increased its holdings in Vornado Realty Trust by 122.2% during the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 661 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Vornado Realty Trust in the second quarter worth approximately $48,000. Quarry LP purchased a new stake in Vornado Realty Trust during the third quarter worth $54,000. Finally, Farther Finance Advisors LLC boosted its position in Vornado Realty Trust by 42.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 665 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.