Vornado Realty Trust (NYSE:VNO) Given Average Rating of “Reduce” by Brokerages

Vornado Realty Trust (NYSE:VNOGet Free Report) has earned a consensus rating of “Reduce” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.78.

A number of research analysts have issued reports on VNO shares. Evercore ISI restated an “underperform” rating and set a $28.00 price target (up previously from $23.00) on shares of Vornado Realty Trust in a research note on Monday, December 11th. Piper Sandler increased their price objective on shares of Vornado Realty Trust from $16.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 20th. TheStreet upgraded shares of Vornado Realty Trust from a “d+” rating to a “c-” rating in a research note on Thursday, December 28th. Citigroup raised their price target on shares of Vornado Realty Trust from $12.00 to $18.00 and gave the company a “sell” rating in a research report on Tuesday, November 28th. Finally, Truist Financial raised their price target on shares of Vornado Realty Trust from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, December 20th.

Check Out Our Latest Stock Report on Vornado Realty Trust

Vornado Realty Trust Trading Up 1.1 %

NYSE:VNO opened at $26.73 on Tuesday. Vornado Realty Trust has a 52 week low of $12.31 and a 52 week high of $32.21. The firm has a 50 day moving average of $27.94 and a 200 day moving average of $24.38. The company has a quick ratio of 4.52, a current ratio of 4.52 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -13.23 and a beta of 1.58.

Vornado Realty Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Friday, December 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend was Thursday, December 14th. Vornado Realty Trust’s dividend payout ratio (DPR) is presently -59.41%.

Insiders Place Their Bets

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 20,000 shares of Vornado Realty Trust stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $28.04, for a total transaction of $560,800.00. Following the completion of the sale, the director now directly owns 2,380,174 shares in the company, valued at $66,740,078.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Russell B. Wight, Jr. sold 20,000 shares of Vornado Realty Trust stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $28.04, for a total value of $560,800.00. Following the completion of the transaction, the director now owns 2,380,174 shares in the company, valued at $66,740,078.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Fascitelli sold 262,945 shares of Vornado Realty Trust stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $29.54, for a total transaction of $7,767,395.30. Following the completion of the transaction, the director now owns 1,306,546 shares of the company’s stock, valued at approximately $38,595,368.84. The disclosure for this sale can be found here. 8.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of Vornado Realty Trust by 39.3% during the 1st quarter. Raymond James & Associates now owns 8,627 shares of the real estate investment trust’s stock worth $391,000 after buying an additional 2,432 shares during the last quarter. US Bancorp DE increased its stake in Vornado Realty Trust by 11.1% in the 1st quarter. US Bancorp DE now owns 10,522 shares of the real estate investment trust’s stock valued at $477,000 after buying an additional 1,052 shares during the period. Cetera Advisor Networks LLC acquired a new position in Vornado Realty Trust in the 1st quarter valued at $208,000. Natixis Advisors L.P. increased its stake in Vornado Realty Trust by 24.5% in the 1st quarter. Natixis Advisors L.P. now owns 23,245 shares of the real estate investment trust’s stock valued at $1,053,000 after buying an additional 4,575 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Vornado Realty Trust by 24.1% in the 1st quarter. MetLife Investment Management LLC now owns 43,587 shares of the real estate investment trust’s stock valued at $1,975,000 after buying an additional 8,459 shares during the period. Hedge funds and other institutional investors own 75.86% of the company’s stock.

About Vornado Realty Trust

(Get Free Report

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.

Further Reading

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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