Vornado Realty Trust (NYSE:VNO) Earns Buy Rating from BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Vornado Realty Trust (NYSE:VNO) in a research note released on Wednesday, June 5th, AnalystRatings.com reports. They currently have a $82.00 price target on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on VNO. Deutsche Bank dropped their price target on Vornado Realty Trust from $80.00 to $73.00 and set a hold rating on the stock in a research note on Wednesday, April 10th. Zacks Investment Research cut Vornado Realty Trust from a hold rating to a sell rating in a research note on Thursday, April 18th. Morgan Stanley set a $72.00 target price on Vornado Realty Trust and gave the company a buy rating in a research note on Monday, April 22nd. Finally, SunTrust Banks lowered their target price on Vornado Realty Trust to $74.00 and set a buy rating on the stock in a research note on Wednesday, May 22nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Vornado Realty Trust has a consensus rating of Hold and a consensus price target of $76.11.

Shares of NYSE VNO traded up $0.42 during midday trading on Wednesday, reaching $64.10. 1,229,200 shares of the company traded hands, compared to its average volume of 982,807. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 2.06. The stock’s 50-day moving average is $66.69. Vornado Realty Trust has a 52 week low of $59.48 and a 52 week high of $77.59. The firm has a market capitalization of $12.04 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 3.43 and a beta of 1.05.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.78). The company had revenue of $534.67 million during the quarter, compared to analysts’ expectations of $583.32 million. Vornado Realty Trust had a return on equity of 10.19% and a net margin of 28.76%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. As a group, equities analysts anticipate that Vornado Realty Trust will post 3.64 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of VNO. Norges Bank acquired a new position in shares of Vornado Realty Trust in the fourth quarter valued at $1,121,649,000. FMR LLC raised its stake in shares of Vornado Realty Trust by 1,334.9% in the fourth quarter. FMR LLC now owns 3,029,051 shares of the real estate investment trust’s stock valued at $187,893,000 after purchasing an additional 2,817,952 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of Vornado Realty Trust by 35.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,999,707 shares of the real estate investment trust’s stock valued at $372,162,000 after purchasing an additional 1,566,186 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Vornado Realty Trust by 112.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,602,830 shares of the real estate investment trust’s stock valued at $161,454,000 after purchasing an additional 1,376,418 shares in the last quarter. Finally, Centersquare Investment Management LLC acquired a new position in shares of Vornado Realty Trust in the first quarter valued at $59,355,000. Hedge funds and other institutional investors own 77.29% of the company’s stock.

About Vornado Realty Trust

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.

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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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