Vornado Realty Trust (NYSE:VNO) Rating Increased to Sector Perform at Scotiabank

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Vornado Realty Trust (NYSE:VNO) was upgraded by equities research analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a note issued to investors on Tuesday, The Fly reports.

A number of other brokerages also recently weighed in on VNO. Morgan Stanley downgraded shares of Silicon Motion Technology from an “equal weight” rating to an “underweight” rating in a report on Monday, April 22nd. Zacks Investment Research downgraded shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. SunTrust Banks restated a “buy” rating and set a $20.00 target price on shares of ANGI Homeservices in a report on Wednesday, May 22nd. Deutsche Bank lowered their target price on shares of Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Finally, BMO Capital Markets boosted their target price on shares of Dollarama from C$35.00 to C$45.00 and gave the stock a “market perform” rating in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Vornado Realty Trust has a consensus rating of “Hold” and a consensus price target of $75.38.

Shares of NYSE VNO traded down $0.82 during midday trading on Tuesday, reaching $65.48. The company’s stock had a trading volume of 827,475 shares, compared to its average volume of 963,326. The company has a debt-to-equity ratio of 2.06, a current ratio of 3.93 and a quick ratio of 3.93. Vornado Realty Trust has a fifty-two week low of $59.48 and a fifty-two week high of $77.59. The company has a market cap of $12.50 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 3.42 and a beta of 0.97. The stock has a 50 day simple moving average of $66.35.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.78). Vornado Realty Trust had a net margin of 28.76% and a return on equity of 10.19%. The business had revenue of $534.67 million during the quarter, compared to analyst estimates of $583.32 million. During the same quarter last year, the business earned $0.30 earnings per share. Vornado Realty Trust’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts predict that Vornado Realty Trust will post 3.8 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in VNO. Rational Advisors LLC boosted its position in shares of Vornado Realty Trust by 375.5% in the first quarter. Rational Advisors LLC now owns 718 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 567 shares during the period. Pearl River Capital LLC bought a new stake in shares of Vornado Realty Trust in the first quarter valued at about $64,000. Whitener Capital Management Inc. boosted its position in shares of Vornado Realty Trust by 46.1% in the first quarter. Whitener Capital Management Inc. now owns 951 shares of the real estate investment trust’s stock valued at $64,000 after acquiring an additional 300 shares during the period. Bessemer Group Inc. boosted its position in shares of Vornado Realty Trust by 33.3% in the fourth quarter. Bessemer Group Inc. now owns 989 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 247 shares during the period. Finally, First Hawaiian Bank boosted its position in shares of Vornado Realty Trust by 476.2% in the first quarter. First Hawaiian Bank now owns 1,331 shares of the real estate investment trust’s stock valued at $90,000 after acquiring an additional 1,100 shares during the period. Hedge funds and other institutional investors own 77.29% of the company’s stock.

About Vornado Realty Trust

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 2017.

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Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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