Vornado Realty Trust (NYSE:VNO) Hits New 12-Month Low at $12.52

Vornado Realty Trust (NYSE:VNO – Get Rating)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $12.52 and last traded at $12.63, with a volume of 2072812 shares trading hands. The stock had previously closed at $13.23.

Wall Street Analyst Weigh In

VNO has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Vornado Realty Trust from $18.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, March 31st. Scotiabank restated a “sector perform” rating on shares of Vornado Realty Trust in a research report on Thursday, April 13th. StockNews.com assumed coverage on shares of Vornado Realty Trust in a research report on Thursday, March 16th. They set a “sell” rating for the company. Evercore ISI reduced their price target on shares of Vornado Realty Trust from $23.00 to $22.00 in a research report on Monday, March 27th. Finally, BMO Capital Markets downgraded Vornado Realty Trust from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $26.00 to $18.00 in a research note on Friday, March 3rd. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.00.

Vornado Realty Trust Stock Down 3.3 %

The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -5.71, a P/E/G ratio of 1.63 and a beta of 1.37. The business has a 50 day simple moving average of $15.11 and a 200-day simple moving average of $20.07. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.75 and a current ratio of 4.75.

Vornado Realty Trust (NYSE:VNO – Get Rating) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.61). Vornado Realty Trust had a positive return on equity of 2.51% and a negative net margin of 20.39%. The company had revenue of $445.92 million during the quarter, compared to analyst estimates of $452.70 million. During the same period last year, the business earned $0.79 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Vornado Realty Trust will post 2.56 EPS for the current year.

Vornado Realty Trust announced that its Board of Directors has initiated a share buyback program on Wednesday, April 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Vornado Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vert Asset Management LLC increased its holdings in shares of Vornado Realty Trust by 48.8% during the 1st quarter. Vert Asset Management LLC now owns 60,224 shares of the real estate investment trust’s stock worth $926,000 after buying an additional 19,753 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of Vornado Realty Trust by 22.0% during the 1st quarter. State of Tennessee Treasury Department now owns 570,657 shares of the real estate investment trust’s stock worth $8,771,000 after purchasing an additional 102,928 shares during the last quarter. Stifel Financial Corp increased its position in shares of Vornado Realty Trust by 29.2% during the 1st quarter. Stifel Financial Corp now owns 334,918 shares of the real estate investment trust’s stock worth $5,148,000 after purchasing an additional 75,783 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Vornado Realty Trust by 59.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 273,894 shares of the real estate investment trust’s stock worth $4,209,000 after purchasing an additional 102,361 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Vornado Realty Trust by 30.0% during the 1st quarter. BlackRock Inc. now owns 20,448,221 shares of the real estate investment trust’s stock worth $314,289,000 after purchasing an additional 4,723,170 shares during the last quarter. Institutional investors and hedge funds own 75.97% of the company’s stock.

Vornado Realty Trust Company Profile

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Vornado Realty Trust is a real estate investment trust, which engages in the ownership of office, retail, merchandise mart properties, and other real estate and related investments. It operates through the New York and Other segments. The company was founded by Steven Roth on March 29, 1993 and is headquartered in New York, NY.