Vornado Realty Trust (NYSE:VNO) Trading 3.1% Higher - Here's What Happened

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) rose 3.1% during trading on Friday . The company traded as high as $41.48 and last traded at $41.28. Approximately 368,364 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,938,345 shares. The stock had previously closed at $40.03.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on VNO shares. Evercore ISI lifted their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. Bank of America upped their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, August 22nd. Truist Financial increased 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. The Goldman Sachs Group raised their price objective on Vornado Realty Trust from $21.50 to $23.75 and gave the company a "sell" rating in a research report on Thursday, September 12th. Finally, StockNews.com raised shares of Vornado Realty Trust to a "sell" rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.58.

Vornado Realty Trust Stock Performance

The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $7.91 billion, a P/E ratio of -143.14 and a beta of 1.63. The business has a fifty day moving average price of $42.82 and a 200-day moving average price of $35.26.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its earnings results 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). Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The company had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. During the same quarter in the prior year, the company posted $0.66 EPS. Vornado Realty Trust's revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

Vornado Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Vornado Realty Trust's previous quarterly dividend of $0.30. Vornado Realty Trust's payout ratio is -255.17%.

Hedge Funds Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its position in Vornado Realty Trust by 331.0% during the third quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 844 shares during the last quarter. Assetmark Inc. increased its position 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 valued at $47,000 after purchasing an additional 661 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vornado Realty Trust in the 2nd quarter worth approximately $48,000. Quarry LP bought a new position in shares of Vornado Realty Trust in the 3rd quarter worth approximately $54,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Vornado Realty Trust by 42.5% in the third quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust's stock worth $88,000 after buying an additional 665 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Company Profile

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