Brokerages Set Vornado Realty Trust (VNO) Target Price at $78.50

Vornado Realty Trust (NYSE:VNO) has earned a consensus rating of “Hold” from the fourteen analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $78.50.

VNO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Vornado Realty Trust from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $74.00 to $72.00 in a research report on Wednesday, December 19th. BMO Capital Markets reaffirmed a “buy” rating on shares of Vornado Realty Trust in a research report on Monday, October 15th. Citigroup reduced their price objective on shares of Vornado Realty Trust from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 29th. Sandler O’Neill cut shares of Vornado Realty Trust from a “buy” rating to a “hold” rating in a research report on Monday, December 3rd. Finally, Barclays reaffirmed a “hold” rating and set a $68.00 price objective on shares of Vornado Realty Trust in a research report on Friday, December 21st.

NYSE:VNO opened at $67.72 on Friday. Vornado Realty Trust has a 1-year low of $59.48 and a 1-year high of $77.59. The company has a debt-to-equity ratio of 2.36, a current ratio of 4.64 and a quick ratio of 4.64. The firm has a market capitalization of $12.77 billion, a P/E ratio of 18.16, a PEG ratio of 4.18 and a beta of 1.01.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, October 29th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Vornado Realty Trust had a net margin of 16.89% and a return on equity of 8.55%. The firm had revenue of $542.05 million during the quarter, compared to the consensus estimate of $544.62 million. During the same period in the prior year, the business posted $0.52 earnings per share. Vornado Realty Trust’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 3.84 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Monday, January 28th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.90%. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.63. The ex-dividend date is Friday, January 25th. Vornado Realty Trust’s payout ratio is 70.78%.

In other news, Director Michael D. Fascitelli sold 126,074 shares of the business’s stock in a transaction dated Monday, January 14th. The shares were sold at an average price of $64.23, for a total value of $8,097,733.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Macnow sold 23,000 shares of the business’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $70.80, for a total transaction of $1,628,400.00. The disclosure for this sale can be found here. Insiders own 10.04% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Vornado Realty Trust by 50.1% in the third quarter. Bank of Montreal Can now owns 199,750 shares of the real estate investment trust’s stock valued at $14,583,000 after acquiring an additional 66,635 shares during the period. Renaissance Technologies LLC acquired a new position in Vornado Realty Trust in the second quarter valued at about $5,987,000. Skandinaviska Enskilda Banken AB publ raised its stake in Vornado Realty Trust by 3.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 32,502 shares of the real estate investment trust’s stock valued at $2,373,000 after purchasing an additional 972 shares in the last quarter. KAMES CAPITAL plc acquired a new position in Vornado Realty Trust in the third quarter valued at about $186,000. Finally, ING Groep NV acquired a new position in Vornado Realty Trust in the third quarter valued at about $701,000. 79.10% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

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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