Vornado Realty Trust (VNO) Coverage Initiated at Scotiabank

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

A number of other equities research analysts also recently weighed in on the company. ValuEngine upgraded Vornado Realty Trust from a sell rating to a hold rating in a report on Wednesday, August 15th. SunTrust Banks restated a buy rating and set a $85.00 price objective on shares of Vornado Realty Trust in a research report on Thursday, August 16th. Zacks Investment Research upgraded Vornado Realty Trust from a hold rating to a buy rating and set a $82.00 price objective for the company in a research report on Monday, October 1st. BMO Capital Markets restated a buy rating and set a $85.00 price objective on shares of Vornado Realty Trust in a research report on Monday, July 30th. Finally, Argus boosted their price objective on Vornado Realty Trust from $76.00 to $82.00 and gave the company a buy rating in a research report on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Vornado Realty Trust presently has a consensus rating of Hold and a consensus target price of $79.78.

Shares of NYSE VNO opened at $67.90 on Tuesday. Vornado Realty Trust has a twelve month low of $64.13 and a twelve month high of $79.56. 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 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 (NYSE:VNO) last issued its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). Vornado Realty Trust had a net margin of 6.91% and a return on equity of 5.16%. The firm had revenue of $541.80 million during the quarter, compared to the consensus estimate of $539.78 million. During the same quarter last year, the firm posted $1.25 earnings per share. Vornado Realty Trust’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Vornado Realty Trust will post 3.93 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in VNO. Point72 Hong Kong Ltd acquired a new position in Vornado Realty Trust during the 2nd quarter valued at approximately $122,000. Federated Investors Inc. PA boosted its position 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 valued at $154,000 after purchasing an additional 2,050 shares during the period. KAMES CAPITAL plc acquired a new position in Vornado Realty Trust during the 3rd quarter worth $186,000. Linscomb & Williams Inc. acquired a new position in Vornado Realty Trust during the 2nd quarter worth $211,000. Finally, Quantum Capital Management acquired a new position in Vornado Realty Trust during the 2nd quarter worth $213,000. Institutional investors and hedge funds own 78.92% of the company’s stock.

Vornado Realty Trust Company Profile

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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