Brokerages Set Vornado Realty Trust (NYSE:VNO) Target Price at $24.80

Vornado Realty Trust (NYSE:VNO) has been assigned a consensus recommendation of “Reduce” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.80.

A number of equities analysts have recently weighed in on VNO shares. Barclays started coverage on Vornado Realty Trust in a research report on Wednesday, March 27th. They set an “underweight” rating and a $22.00 target price on the stock. The Goldman Sachs Group lowered their target price on Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 22nd. Evercore ISI lowered their price target on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, February 15th. Finally, 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 research report on Thursday, March 28th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in Vornado Realty Trust in the 4th quarter worth about $26,000. Financial Gravity Asset Management Inc. boosted its stake in Vornado Realty Trust by 8,355.6% in 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 purchasing an additional 1,504 shares during the period. Global Retirement Partners LLC boosted its stake in Vornado Realty Trust by 49.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,672 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 556 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in Vornado Realty Trust in the 4th quarter worth about $40,000. Finally, Selway Asset Management bought a new position in Vornado Realty Trust in the 3rd quarter worth about $45,000. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock opened at $26.04 on Friday. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 113.22 and a beta of 1.57. Vornado Realty Trust has a 52-week low of $12.31 and a 52-week high of $32.21. The stock’s 50 day moving average price is $26.69 and its two-hundred day moving average price is $25.83. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $453.82 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Vornado Realty Trust’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts predict that Vornado Realty Trust will post 2.3 earnings per share for the current year.

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.