Vornado Realty Trust (NYSE:VNO) Given Average Recommendation of “Hold” by Brokerages

Shares of Vornado Realty Trust (NYSE:VNO) have been assigned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $37.61.

A number of brokerages have recently issued reports on VNO. StockNews.com raised Vornado Realty Trust to a “sell” rating in a research report on Tuesday, November 12th. Evercore ISI boosted their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Mizuho raised shares of Vornado Realty Trust from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $38.00 to $48.00 in a research report on Tuesday. Barclays lifted their price target on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Finally, Compass Point increased their target price on Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th.

Vornado Realty Trust Trading Down 2.4 %

Shares of NYSE VNO opened at $40.31 on Friday. The stock’s 50 day moving average price is $42.72 and its two-hundred day moving average price is $36.96. Vornado Realty Trust has a 52-week low of $22.42 and a 52-week high of $46.63. The stock has a market capitalization of $7.69 billion, a P/E ratio of -139.00 and a beta of 1.62. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93.

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

Vornado Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio is -255.17%.

Institutional Investors Weigh In On Vornado Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP increased its stake in shares of Vornado Realty Trust by 112.0% in the 3rd quarter. Quantbot Technologies LP now owns 130,258 shares of the real estate investment trust’s stock valued at $5,132,000 after purchasing an additional 68,813 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Vornado Realty Trust by 232.8% during the third quarter. JPMorgan Chase & Co. now owns 3,529,069 shares of the real estate investment trust’s stock worth $139,045,000 after acquiring an additional 2,468,652 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Vornado Realty Trust by 2,229.1% in the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock worth $22,502,000 after purchasing an additional 818,838 shares during the period. Hsbc Holdings PLC boosted its position in Vornado Realty Trust by 33.3% during the second quarter. Hsbc Holdings PLC now owns 483,598 shares of the real estate investment trust’s stock valued at $12,553,000 after acquiring an additional 120,902 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Vornado Realty Trust by 38.5% during the 3rd quarter. Raymond James & Associates now owns 196,307 shares of the real estate investment trust’s stock valued at $7,735,000 after purchasing an additional 54,539 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

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