Vornado Realty Trust (VNO) Earns Underperform Rating from Analysts at Scotiabank

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Scotiabank began coverage on shares of Vornado Realty Trust (NYSE:VNO) in a research note published on Tuesday morning, The Fly reports. The brokerage issued an underperform rating on the real estate investment trust’s stock.

VNO has been the topic of several other reports. ValuEngine lowered Vornado Realty Trust from a hold rating to a sell rating in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded Vornado Realty Trust from a hold rating to a buy rating and set a $82.00 target price on the stock in a report on Monday, October 1st. SunTrust Banks raised their target price on Vornado Realty Trust to $81.00 and gave the company an average rating in a report on Wednesday, June 27th. BMO Capital Markets reiterated a buy rating on shares of Vornado Realty Trust in a report on Monday. Finally, Deutsche Bank dropped their target price on Vornado Realty Trust from $82.00 to $80.00 and set a hold rating on the stock in a report on Tuesday, June 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Vornado Realty Trust presently has an average rating of Hold and a consensus target price of $79.78.

NYSE VNO opened at $67.90 on Tuesday. The stock has a market capitalization of $13.00 billion, a PE ratio of 19.47, a PEG ratio of 8.09 and a beta of 0.91. Vornado Realty Trust has a 1-year low of $64.13 and a 1-year high of $79.56. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 2.41.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $541.80 million during the quarter, compared to analyst estimates of $539.78 million. Vornado Realty Trust had a net margin of 6.91% and a return on equity of 5.16%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. Sell-side analysts expect that Vornado Realty Trust will post 3.93 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Vornado Realty Trust during the 2nd quarter valued at about $122,000. Federated Investors Inc. PA increased its holdings in Vornado Realty Trust by 5,125.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,090 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 2,050 shares during the last quarter. KAMES CAPITAL plc purchased a new stake in Vornado Realty Trust during the 3rd quarter worth approximately $186,000. Linscomb & Williams Inc. purchased a new stake in Vornado Realty Trust during the 2nd quarter worth approximately $211,000. Finally, Quantum Capital Management purchased a new stake in Vornado Realty Trust during the 2nd quarter worth approximately $213,000. Institutional investors and hedge funds own 78.92% 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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The Fly

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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