Vornado Realty Trust (VNO) Receives “Buy” Rating from SunTrust Banks
SunTrust Banks restated their buy rating on shares of Vornado Realty Trust (NYSE:VNO) in a report issued on Thursday morning, The Fly reports. The firm currently has a $85.00 price objective on the real estate investment trust’s stock.
Other equities analysts have also issued reports about the company. ValuEngine raised Vornado Realty Trust from a sell rating to a hold rating in a report on Wednesday. Deutsche Bank reduced their price objective on Vornado Realty Trust from $82.00 to $80.00 and set a hold rating for the company in a report on Tuesday, June 26th. Argus increased their price objective on Vornado Realty Trust from $76.00 to $82.00 and gave the company a buy rating in a report on Tuesday, July 3rd. Evercore ISI raised Vornado Realty Trust from an in-line rating to an outperform rating in a report on Monday, June 11th. Finally, Morgan Stanley reduced their price objective on Vornado Realty Trust from $78.00 to $76.00 and set an overweight rating for the company in a report on Thursday, June 14th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $80.10.
Shares of Vornado Realty Trust stock traded up $0.56 on Thursday, hitting $76.96. The company had a trading volume of 53,520 shares, compared to its average volume of 1,050,896. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 2.41. The company has a market cap of $13.84 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 8.94 and a beta of 0.88. Vornado Realty Trust has a 1 year low of $64.13 and a 1 year high of $80.30.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Monday, August 6th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Friday, August 3rd. Vornado Realty Trust’s payout ratio is currently 67.56%.
Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of Vornado Realty Trust by 25.5% in the first quarter. Toronto Dominion Bank now owns 93,056 shares of the real estate investment trust’s stock worth $6,261,000 after acquiring an additional 18,899 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Vornado Realty Trust in the second quarter worth $325,000. DnB Asset Management AS bought a new position in shares of Vornado Realty Trust in the second quarter worth $1,458,000. Norinchukin Bank The boosted its holdings in shares of Vornado Realty Trust by 29.6% in the first quarter. Norinchukin Bank The now owns 18,633 shares of the real estate investment trust’s stock worth $1,254,000 after acquiring an additional 4,258 shares during the period. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Vornado Realty Trust by 9.8% in the first quarter. Riverhead Capital Management LLC now owns 8,279 shares of the real estate investment trust’s stock worth $557,000 after acquiring an additional 740 shares during the period. 80.04% of the stock is owned by hedge funds and other institutional investors.
Vornado Realty Trust Company Profile
Vornado Realty Trust is a preeminent owner, manager and developer of office and retail assets. 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.
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