Mizuho Upgrades Vornado Realty Trust (NYSE:VNO) to Outperform

Vornado Realty Trust (NYSE:VNO) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $48.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $38.00. Mizuho’s price target indicates a potential upside of 20.03% from the company’s previous close.

A number of other brokerages also recently issued reports on VNO. Compass Point increased their price target on shares of Vornado Realty Trust from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Scotiabank increased 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 report on Friday, October 25th. Piper Sandler reissued a “neutral” rating and set a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group lifted their price objective on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and an average target price of $37.61.

Vornado Realty Trust Price Performance

Shares of VNO opened at $39.99 on Tuesday. 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 stock’s 50 day moving average is $42.72 and its two-hundred day moving average is $36.96. Vornado Realty Trust has a twelve month low of $22.42 and a twelve month high of $46.63. The firm has a market capitalization of $7.62 billion, a PE ratio of -137.90 and a beta of 1.62.

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 for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The business had revenue of $443.26 million during the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. Research analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Vornado Realty Trust by 1,014.0% during the fourth quarter. Versant Capital Management Inc now owns 958 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 872 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Vornado Realty Trust by 331.0% during the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 844 shares during the period. Assetmark Inc. lifted its stake in shares of Vornado Realty Trust by 122.2% during the 3rd quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 661 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vornado Realty Trust during the second quarter worth $48,000. Finally, Quarry LP purchased a new stake in shares of Vornado Realty Trust in the third quarter valued at $54,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

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