Vornado Realty Trust (NYSE:VNO)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research note issued on Saturday. They presently have a $81.00 price objective on the real estate investment trust’s stock. Morgan Stanley’s price objective indicates a potential upside of 2.94% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Evercore ISI reissued an “outperform” rating and issued a $86.00 price objective (down from $106.00) on shares of Vornado Realty Trust in a research note on Friday. Citigroup Inc. dropped their price objective on shares of Vornado Realty Trust from $96.17 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 19th. Barclays PLC dropped their price objective on shares of Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, TheStreet cut shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Vornado Realty Trust currently has an average rating of “Hold” and a consensus target price of $100.63.
Shares of Vornado Realty Trust (NYSE VNO) opened at 78.69 on Friday. The company’s 50-day moving average is $76.18 and its 200 day moving average is $81.05. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 15.20 and a beta of 0.96. Vornado Realty Trust has a 52-week low of $77.26 and a 52-week high of $111.72.
Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.64. The company had revenue of $620.85 million for the quarter, compared to analysts’ expectations of $642 million. Vornado Realty Trust had a net margin of 42.35% and a return on equity of 6.84%. Vornado Realty Trust’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.61) EPS. On average, analysts expect that Vornado Realty Trust will post $1.19 earnings per share for the current fiscal year.
WARNING: This piece was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://stocknewstimes.com/2017/07/24/vornado-realty-trust-vno-rating-reiterated-by-morgan-stanley.html.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Vornado Realty Trust by 1.9% in the first quarter. Vanguard Group Inc. now owns 24,521,890 shares of the real estate investment trust’s stock worth $2,459,792,000 after buying an additional 457,208 shares during the period. BlackRock Inc. boosted its position in Vornado Realty Trust by 2,605.3% in the first quarter. BlackRock Inc. now owns 15,932,961 shares of the real estate investment trust’s stock worth $1,598,235,000 after buying an additional 15,344,015 shares during the period. Daiwa Securities Group Inc. boosted its position in Vornado Realty Trust by 14.2% in the first quarter. Daiwa Securities Group Inc. now owns 4,693,340 shares of the real estate investment trust’s stock worth $470,789,000 after buying an additional 582,843 shares during the period. JPMorgan Chase & Co. boosted its position in Vornado Realty Trust by 8.7% in the first quarter. JPMorgan Chase & Co. now owns 4,584,977 shares of the real estate investment trust’s stock worth $459,920,000 after buying an additional 367,657 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Vornado Realty Trust by 6.9% in the first quarter. Bank of New York Mellon Corp now owns 4,053,337 shares of the real estate investment trust’s stock worth $406,591,000 after buying an additional 260,216 shares during the period. 87.55% of the stock is currently owned by institutional investors and hedge funds.
About Vornado Realty Trust
Vornado Realty Trust is a real estate investment trust (REIT). The Company conducts its business through Vornado Realty L.P. (the Operating Partnership). The Company operates through two segments: New York and Washington, DC. As of December 31, 2016, the Company’s New York segment consisted of 28.3 million square feet in 86 properties.
Receive News & Ratings for Vornado Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vornado Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.
