Vornado Realty Trust (NYSE:VNO) Price Target Raised to $30.00

Vornado Realty Trust (NYSE:VNO) had its target price hoisted by The Goldman Sachs Group from $27.00 to $30.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a sell rating on the real estate investment trust’s stock.

Several other research firms also recently commented on VNO. Mizuho raised shares of Vornado Realty Trust from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $38.00 to $48.00 in a research report on Tuesday, January 7th. StockNews.com raised Vornado Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Truist Financial lifted their target price on Vornado Realty Trust from $31.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Barclays increased their price target on Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Finally, Compass Point upped their target price on shares of Vornado Realty Trust from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $38.55.

Vornado Realty Trust Stock Up 2.0 %

Shares of NYSE VNO opened at $41.09 on Tuesday. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 1.98. The firm has a market cap of $7.84 billion, a PE ratio of 1,027.28, a P/E/G ratio of 9.69 and a beta of 1.62. The company’s fifty day simple moving average is $41.41 and its 200 day simple moving average is $40.22. Vornado Realty Trust has a 12-month low of $22.42 and a 12-month high of $46.63.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, February 10th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.66. Vornado Realty Trust had a return on equity of 1.60% and a net margin of 3.94%. As a group, sell-side analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current fiscal year.

Vornado Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.30. Vornado Realty Trust’s dividend payout ratio is currently 1,850.00%.

Institutional Investors Weigh In On Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. bought a new stake in Vornado Realty Trust during the 4th quarter valued at $514,000. Yoffe Investment Management LLC bought a new position in Vornado Realty Trust in the 4th quarter worth about $222,000. GF Fund Management CO. LTD. purchased a new position in Vornado Realty Trust during the 4th quarter valued at about $124,000. Woodline Partners LP bought a new stake in shares of Vornado Realty Trust during the fourth quarter valued at about $8,009,000. Finally, Zurich Insurance Group Ltd FI lifted its holdings in shares of Vornado Realty Trust by 11.7% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 500,367 shares of the real estate investment trust’s stock worth $21,035,000 after buying an additional 52,276 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

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