Vornado Realty Trust (NYSE:VNO) Rating Increased to Outperform at Mizuho

Mizuho upgraded shares of Vornado Realty Trust (NYSE:VNO) from a neutral rating to an outperform rating in a report released on Tuesday, Marketbeat reports. Mizuho currently has $48.00 price target on the real estate investment trust’s stock, up from their prior price target of $38.00.

VNO has been the topic of a number of other reports. Barclays upped their price target on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. The Goldman Sachs Group increased their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th. Evercore ISI boosted their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Piper Sandler restated a “neutral” rating and issued a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Finally, Truist Financial lifted their price objective on Vornado Realty Trust from $31.00 to $40.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $37.61.

Vornado Realty Trust Price Performance

Shares of VNO opened at $39.99 on Tuesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.97 and a current ratio of 4.97. Vornado Realty Trust has a fifty-two week low of $22.42 and a fifty-two week high of $46.63. The firm has a 50-day simple moving average of $42.67 and a 200-day simple moving average of $36.98. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -137.90 and a beta of 1.62.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data 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 analyst estimates of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts anticipate that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Vornado Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 7.40%. This is an increase from Vornado Realty Trust’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, December 16th. Vornado Realty Trust’s dividend payout ratio is presently -255.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VNO. Thrivent Financial for Lutherans increased its stake in Vornado Realty Trust by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 38,933 shares of the real estate investment trust’s stock worth $1,534,000 after acquiring an additional 272 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Vornado Realty Trust by 0.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,315 shares of the real estate investment trust’s stock worth $2,731,000 after purchasing an additional 299 shares during the period. US Bancorp DE grew its holdings in shares of Vornado Realty Trust by 1.8% during the 3rd quarter. US Bancorp DE now owns 17,529 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 311 shares during the period. Vert Asset Management LLC increased its position in Vornado Realty Trust by 0.5% during the 3rd quarter. Vert Asset Management LLC now owns 68,282 shares of the real estate investment trust’s stock worth $2,690,000 after purchasing an additional 324 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Vornado Realty Trust by 8.1% in the fourth quarter. GAMMA Investing LLC now owns 4,768 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 356 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

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