Vornado Realty Trust (VNO) Cut to C+ at TheStreet

Vornado Realty Trust (NYSE:VNO) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Tuesday.

VNO has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Vornado Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, February 22nd. Barclays PLC increased 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. Deutsche Bank AG increased their target price on shares of Vornado Realty Trust from $97.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday, March 20th. Evercore ISI reiterated an “in-line” rating and issued a $107.00 target price (down previously from $111.00) on shares of Vornado Realty Trust in a research report on Thursday, May 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $95.00 target price (down previously from $111.00) on shares of Vornado Realty Trust in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $107.64.

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

Vornado Realty Trust (NYSE VNO) opened at 93.53 on Tuesday. The firm has a 50-day moving average price of $93.59 and a 200 day moving average price of $101.50. Vornado Realty Trust has a one year low of $86.35 and a one year high of $111.72. The firm has a market capitalization of $17.71 billion, a P/E ratio of 18.06 and a beta of 0.96.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, May 1st. The real estate investment trust reported $1.13 earnings per share (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 company had revenue of $620.85 million during the quarter, compared to the consensus estimate of $642 million. During the same quarter in the prior year, the firm earned ($0.61) EPS. The company’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that Vornado Realty Trust will post $1.50 earnings per share for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd raised its position in Vornado Realty Trust by 62.5% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,300 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 500 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in Vornado Realty Trust during the first quarter worth about $139,000. Ladenburg Thalmann Financial Services Inc. raised its position in 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 last quarter. Advisors Asset Management Inc. raised its position in Vornado Realty Trust by 98.9% in the first quarter. Advisors Asset Management Inc. now owns 1,490 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 741 shares during the last quarter. Finally, Global X Management Co. LLC raised its position in Vornado Realty Trust by 44.6% in the first quarter. Global X Management Co. LLC now owns 2,041 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 630 shares during the last quarter. Institutional investors and hedge funds own 91.92% 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.

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