Vornado Realty (VNO) Gets a Buy Rating from BMO Capital

By Ryan Adsit

In a report released yesterday, John Kim from BMO Capital maintained a Buy rating on Vornado Realty (VNOResearch Report), with a price target of $82. The company’s shares closed yesterday at $66.50.

According to TipRanks.com, Kim is a 4-star analyst with an average return of 4.7% and a 58.5% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Franklin Street Properties, and Physicians Realty Trust.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Vornado Realty with a $75.50 average price target, implying a 13.5% upside from current levels. In a report issued on May 22, SunTrust Robinson also maintained a Buy rating on the stock with a $74 price target.

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Based on Vornado Realty’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $194 million. In comparison, last year the company had a net profit of $9.67 million.

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Vornado Realty Trust is a real estate investment trust. The company owns office, retail, merchandise mart properties and other real estate and related investments. Its office properties include various building office complexes and Bank of America Center in San Francisco.