Vornado Realty Trust (NYSE:VNO) Price Target Lowered to $75.00 at Barclays

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Vornado Realty Trust (NYSE:VNO) had its price target cut by investment analysts at Barclays from $79.00 to $75.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 11.91% from the company’s previous close.

VNO has been the topic of a number of other research reports. Goldman Sachs Group assumed coverage on Vornado Realty Trust in a report on Friday, November 8th. They set a “neutral” rating and a $69.00 target price on the stock. SunTrust Banks reduced their target price on Vornado Realty Trust from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. BMO Capital Markets increased their target price on Vornado Realty Trust from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley downgraded Vornado Realty Trust from an “overweight” rating to an “equal” rating and reduced their target price for the stock from $72.00 to $68.00 in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $72.29.

NYSE:VNO opened at $67.02 on Tuesday. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $65.88 and its two-hundred day moving average is $63.96. Vornado Realty Trust has a 52 week low of $58.60 and a 52 week high of $70.54. The company has a market cap of $12.68 billion, a PE ratio of 17.82, a P/E/G ratio of 6.01 and a beta of 0.98.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.46). Vornado Realty Trust had a return on equity of 4.90% and a net margin of 151.59%. The firm had revenue of $465.96 million for the quarter, compared to the consensus estimate of $457.27 million. During the same period in the prior year, the business earned $0.35 EPS. The company’s quarterly revenue was down 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Vornado Realty Trust will post 3.41 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in VNO. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Vornado Realty Trust by 22.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 179,376 shares of the real estate investment trust’s stock worth $12,097,000 after purchasing an additional 32,822 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Vornado Realty Trust by 48.6% in the 2nd quarter. LPL Financial LLC now owns 5,088 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 1,665 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Vornado Realty Trust by 5.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 264,423 shares of the real estate investment trust’s stock worth $16,950,000 after purchasing an additional 13,880 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Vornado Realty Trust by 2.9% in the 2nd quarter. APG Asset Management N.V. now owns 35,724 shares of the real estate investment trust’s stock worth $2,011,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Vornado Realty Trust by 2.6% in the 2nd quarter. Bank of Nova Scotia now owns 33,795 shares of the real estate investment trust’s stock worth $2,166,000 after purchasing an additional 861 shares during the last quarter. 76.24% of the stock is currently owned by institutional investors and hedge funds.

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 2019.

Further Reading: The limitations of an equal weight rating

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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