Vornado Realty Trust (VNO) Price Target Lowered to $103.00 at Deutsche Bank AG

Vornado Realty Trust (NYSE:VNO) had its price target decreased by Deutsche Bank AG from $105.00 to $103.00 in a report published on Thursday, May 25th. Deutsche Bank AG currently has a hold rating on the real estate investment trust’s stock.

Several other analysts have also weighed in on the company. Evercore ISI reissued an in-line rating and issued a $107.00 price objective (down from $111.00) on shares of Vornado Realty Trust in a report on Thursday, May 4th. Barclays PLC boosted their price objective on Vornado Realty Trust from $101.00 to $104.00 and gave the company an equal weight rating in a report on Tuesday, March 28th. Zacks Investment Research raised Vornado Realty Trust from a sell rating to a hold rating in a report on Wednesday, February 22nd. Finally, TheStreet raised Vornado Realty Trust from a c+ rating to a b+ rating in a report on Monday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $107.79.

Vornado Realty Trust (VNO) traded down 0.66% during mid-day trading on Thursday, reaching $93.88. The company’s stock had a trading volume of 1,351,559 shares. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 18.13 and a beta of 0.96. The firm’s 50 day moving average price is $93.75 and its 200 day moving average price is $101.53. Vornado Realty Trust has a 12-month low of $86.35 and a 12-month high of $111.72.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.64. Vornado Realty Trust had a return on equity of 6.84% and a net margin of 42.35%. The business had revenue of $620.85 million for the quarter, compared to analysts’ expectations of $642 million. During the same quarter in the previous year, the firm posted ($0.61) earnings per share. The company’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Vornado Realty Trust will post $1.50 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, May 8th were given a dividend of $0.71 per share. The ex-dividend date was Thursday, May 4th. This represents a $2.84 annualized dividend and a dividend yield of 3.03%. Vornado Realty Trust’s dividend payout ratio is presently 54.72%.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of 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 valued at $2,459,792,000 after buying an additional 457,208 shares in the last quarter. BlackRock Inc. increased its stake 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. increased its stake 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. increased its stake 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, Norges Bank purchased a new stake in Vornado Realty Trust during the fourth quarter worth $447,470,000. Institutional investors and hedge funds own 91.91% of the company’s stock.

Vornado Realty Trust Company Profile

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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