Vornado Realty Trust (NYSE:VNO) Trading Up 3.1% – Time to Buy?

Vornado Realty Trust (NYSE:VNO)’s share price traded up 3.1% during trading on Friday . The stock traded as high as $41.48 and last traded at $41.28. 368,364 shares were traded during trading, a decline of 81% from the average session volume of 1,938,345 shares. The stock had previously closed at $40.03.

Analyst Ratings Changes

A number of analysts have weighed in on the company. The Goldman Sachs Group upped their price target on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research report on Thursday, September 12th. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Tuesday, November 12th. Piper Sandler reissued a “neutral” rating and set a $44.00 price target (up from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Evercore ISI upped their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Scotiabank lifted their target price on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Vornado Realty Trust currently has an average rating of “Hold” and a consensus target price of $36.58.

Vornado Realty Trust Stock Performance

The stock has a market cap of $7.91 billion, a price-to-earnings ratio of -143.14 and a beta of 1.63. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93. The firm has a fifty day simple moving average of $42.85 and a 200-day simple moving average of $35.46.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.61). The firm had revenue of $443.26 million during the quarter, compared to the consensus estimate of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. Vornado Realty Trust’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. Analysts forecast that Vornado Realty Trust will post 2.16 EPS for the current fiscal year.

Vornado Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 7.13%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 16th. Vornado Realty Trust’s payout ratio is -255.17%.

Hedge Funds Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP raised its position in shares of Vornado Realty Trust by 112.0% during the 3rd quarter. Quantbot Technologies LP now owns 130,258 shares of the real estate investment trust’s stock valued at $5,132,000 after acquiring an additional 68,813 shares during the last quarter. Bank of Montreal Can increased its holdings in Vornado Realty Trust by 2,229.1% in the second quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after purchasing an additional 818,838 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Vornado Realty Trust by 33.3% in the second quarter. Hsbc Holdings PLC now owns 483,598 shares of the real estate investment trust’s stock valued at $12,553,000 after purchasing an additional 120,902 shares during the last quarter. Raymond James & Associates boosted its holdings in Vornado Realty Trust by 38.5% during the third quarter. Raymond James & Associates now owns 196,307 shares of the real estate investment trust’s stock worth $7,735,000 after buying an additional 54,539 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Vornado Realty Trust by 1.8% during the third quarter. US Bancorp DE now owns 17,529 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 311 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.