Vornado Realty Trust (VNO) Sets New 52-Week Low at $72.11
Vornado Realty Trust (NYSE:VNO) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $72.11 and last traded at $72.08, with a volume of 630,528 shares. The stock had previously closed at $72.92.
A number of equities research analysts have recently issued reports on VNO shares. Morgan Stanley upgraded Vornado Realty Trust from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $81.00 to $84.00 in a research note on Tuesday, October 10th. BidaskClub upgraded Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded Vornado Realty Trust from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Sandler O’Neill reiterated a “buy” rating and set a $90.00 price objective on shares of Vornado Realty Trust in a research note on Tuesday, September 26th. Finally, Barclays PLC dropped their price objective on Vornado Realty Trust from $104.00 to $103.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $93.67.
The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 16.17 and a beta of 1.00. The firm has a 50-day moving average price of $76.05 and a 200-day moving average price of $76.47.
Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.90. The business had revenue of $528.76 million for the quarter, compared to analyst estimates of $545.53 million. Vornado Realty Trust had a return on equity of 4.32% and a net margin of 35.23%. Vornado Realty Trust’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. On average, equities research analysts anticipate that Vornado Realty Trust will post $1.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, November 3rd. This represents a $2.40 annualized dividend and a dividend yield of 3.21%. Vornado Realty Trust’s payout ratio is presently 57.97%.
Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. raised its stake in shares of Vornado Realty Trust by 62.1% in the second quarter. Bessemer Group Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 419 shares during the period. Sun Life Financial INC raised its stake in shares of Vornado Realty Trust by 13,866.7% in the second quarter. Sun Life Financial INC now owns 1,257 shares of the real estate investment trust’s stock valued at $118,000 after buying an additional 1,248 shares during the period. Exane Asset Management bought a new stake in shares of Vornado Realty Trust in the second quarter valued at $187,000. Perigon Wealth Management LLC raised its stake in shares of Vornado Realty Trust by 56.5% in the second quarter. Perigon Wealth Management LLC now owns 2,175 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 785 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Vornado Realty Trust by 48.3% in the second quarter. Advisors Asset Management Inc. now owns 2,209 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 719 shares during the period. Hedge funds and other institutional investors own 85.58% of the company’s stock.
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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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