Goldman Sachs Group started coverage on shares of Vornado Realty Trust (NYSE:VNO) in a report issued on Friday morning, Benzinga’s Daily Ratings Newsletter reports. The brokerage issued a neutral rating and a $69.00 price target on the real estate investment trust’s stock.

VNO has been the subject of a number of other reports. BMO Capital Markets reaffirmed a buy rating and issued a $79.00 price target on shares of Vornado Realty Trust in a research note on Wednesday, July 31st. ValuEngine raised shares of Vornado Realty Trust from a sell rating to a hold rating in a research note on Thursday, August 1st. Argus lowered shares of Vornado Realty Trust from a buy rating to a hold rating in a research note on Tuesday, August 20th. Barclays set a $79.00 price target on shares of Vornado Realty Trust and gave the stock a hold rating in a research note on Friday, October 11th. Finally, Morgan Stanley lowered shares of Vornado Realty Trust from an overweight rating to an equal rating and reduced their price target for the stock from $72.00 to $68.00 in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $73.13.

Shares of NYSE:VNO traded up $0.82 during trading on Friday, reaching $65.77. The company had a trading volume of 801,204 shares, compared to its average volume of 1,062,663. The firm’s fifty day moving average is $63.72 and its 200 day moving average is $64.50. The firm has a market capitalization of $12.47 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 5.00 and a beta of 0.97. Vornado Realty Trust has a twelve month low of $58.60 and a twelve month high of $72.50. The company has a debt-to-equity ratio of 1.10, a quick ratio of 4.61 and a current ratio of 4.61.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.46). The company had revenue of $465.96 million during the quarter, compared to analyst estimates of $457.27 million. Vornado Realty Trust had a return on equity of 4.90% and a net margin of 151.59%. The company’s revenue was down 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share. Equities analysts predict that Vornado Realty Trust will post 3.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Monday, November 4th will be issued a $0.66 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.01%. Vornado Realty Trust’s payout ratio is currently 70.21%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNO. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Vornado Realty Trust by 22.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 179,376 shares of the real estate investment trust’s stock worth $12,097,000 after purchasing an additional 32,822 shares in the last quarter. Pensionfund DSM Netherlands raised its holdings in shares of Vornado Realty Trust by 118.9% in the 2nd quarter. Pensionfund DSM Netherlands now owns 60,765 shares of the real estate investment trust’s stock worth $3,895,000 after purchasing an additional 33,000 shares in the last quarter. Pensionfund Sabic raised its holdings in shares of Vornado Realty Trust by 195.8% in the 2nd quarter. Pensionfund Sabic now owns 33,237 shares of the real estate investment trust’s stock worth $2,130,000 after purchasing an additional 22,000 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of Vornado Realty Trust by 38.2% in the 2nd quarter. WINTON GROUP Ltd now owns 559,536 shares of the real estate investment trust’s stock worth $35,866,000 after purchasing an additional 154,615 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Vornado Realty Trust by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 80,957 shares of the real estate investment trust’s stock worth $5,189,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 77.83% 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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