Vornado Realty Trust (NYSE:VNO) – Equities researchers at SunTrust Banks boosted their Q3 2018 earnings estimates for shares of Vornado Realty Trust in a report issued on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $0.98 per share for the quarter, up from their prior forecast of $0.96. SunTrust Banks has a “Buy” rating and a $78.00 price objective on the stock. SunTrust Banks also issued estimates for Vornado Realty Trust’s FY2018 earnings at $3.91 EPS, Q1 2019 earnings at $0.97 EPS, Q3 2019 earnings at $1.05 EPS, Q4 2019 earnings at $1.07 EPS, FY2019 earnings at $4.10 EPS and FY2020 earnings at $4.40 EPS.
VNO has been the topic of a number of other reports. TheStreet cut shares of Vornado Realty Trust from a “b-” rating to a “c” rating in a research report on Tuesday, February 13th. Argus reduced their target price on shares of Vornado Realty Trust from $83.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets began coverage on shares of Vornado Realty Trust in a research report on Friday. They set an “outperform” rating and a $85.00 target price on the stock. Zacks Investment Research cut shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. cut shares of Vornado Realty Trust from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research report on Friday, December 15th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $86.62.
Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Vornado Realty Trust had a net margin of 9.10% and a return on equity of 5.44%. The business had revenue of $536.23 million for the quarter, compared to analysts’ expectations of $532.81 million. During the same period in the previous year, the company posted $3.43 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Endowment Management LP raised its holdings in Vornado Realty Trust by 248.6% in the fourth quarter. Global Endowment Management LP now owns 12,900 shares of the real estate investment trust’s stock valued at $1,008,000 after acquiring an additional 9,200 shares in the last quarter. Amica Pension Fund Board of Trustees bought a new stake in Vornado Realty Trust during the third quarter valued at $2,739,000. Ffcm LLC bought a new stake in Vornado Realty Trust during the third quarter valued at $1,044,000. Neuberger Berman Group LLC increased its stake in Vornado Realty Trust by 13.2% during the third quarter. Neuberger Berman Group LLC now owns 537,094 shares of the real estate investment trust’s stock valued at $41,292,000 after purchasing an additional 62,429 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Vornado Realty Trust during the fourth quarter valued at $3,625,000. 88.82% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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