Vornado Realty Trust (VNO) Given New $92.00 Price Target at Citigroup Inc.

Vornado Realty Trust (NYSE:VNO) had its price target decreased by analysts at Citigroup Inc. from $96.17 to $92.00 in a report issued on Wednesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Citigroup Inc.’s target price points to a potential upside of 18.57% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Bank of America Corporation reissued a “buy” rating and set a $113.00 target price (up from $112.00) on shares of Vornado Realty Trust in a research report on Thursday, June 22nd. TheStreet cut shares of Vornado Realty Trust from a “b-” rating to a “c+” rating in a research report on Tuesday, June 20th. Morgan Stanley reissued an “equal weight” rating and set a $95.00 target price (down from $111.00) on shares of Vornado Realty Trust in a research report on Tuesday, June 13th. Barclays PLC boosted their target price on shares of Vornado Realty Trust from $101.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 28th. Finally, BidaskClub raised shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Vornado Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $104.88.

Shares of Vornado Realty Trust (VNO) traded up 2.27% during midday trading on Wednesday, hitting $79.35. 473,248 shares of the company’s stock were exchanged. Vornado Realty Trust has a 1-year low of $69.81 and a 1-year high of $90.32. The stock’s 50 day moving average is $75.88 and its 200-day moving average is $81.07. The stock has a market cap of $15.02 billion, a PE ratio of 15.32 and a beta of 0.96.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.64. Vornado Realty Trust had a net margin of 42.35% and a return on equity of 6.84%. The business had revenue of $620.85 million for the quarter, compared to analysts’ expectations of $642 million. During the same period in the previous year, the company posted ($0.61) earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts predict that Vornado Realty Trust will post $1.49 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of VNO. Federated Investors Inc. PA raised its stake in shares of Vornado Realty Trust by 9.8% in the fourth quarter. Federated Investors Inc. PA now owns 5,413 shares of the real estate investment trust’s stock worth $565,000 after buying an additional 482 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Vornado Realty Trust by 1.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,404 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 20 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Vornado Realty Trust by 1.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 793,736 shares of the real estate investment trust’s stock worth $82,843,000 after buying an additional 12,028 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Vornado Realty Trust during the fourth quarter worth about $1,303,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Vornado Realty Trust during the fourth quarter worth about $581,000. Institutional investors and hedge funds own 87.55% of the company’s stock.

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.

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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