Truist Financial Boosts Vornado Realty Trust (NYSE:VNO) Price Target to $31.00

Vornado Realty Trust (NYSE:VNO) had its price target boosted by Truist Financial from $26.00 to $31.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the company. Compass Point lifted their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on Vornado Realty Trust from $19.00 to $21.50 and gave the company a sell rating in a research report on Tuesday. StockNews.com raised Vornado Realty Trust to a sell rating in a research report on Saturday, July 20th. Scotiabank dropped their target price on Vornado Realty Trust from $24.00 to $23.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. Finally, BMO Capital Markets raised Vornado Realty Trust from a market perform rating to an outperform rating and lifted their target price for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $29.32.

Vornado Realty Trust Trading Down 0.2 %

NYSE VNO opened at $33.97 on Tuesday. The firm has a market cap of $6.47 billion, a P/E ratio of 226.48 and a beta of 1.64. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. The stock’s 50-day moving average is $29.42 and its 200-day moving average is $27.06. Vornado Realty Trust has a one year low of $18.36 and a one year high of $35.26.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 EPS. Sell-side analysts anticipate that Vornado Realty Trust will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $85,528.46. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.14% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

A number of institutional investors have recently modified their holdings of VNO. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vornado Realty Trust during the 2nd quarter worth $48,000. Fidelis Capital Partners LLC acquired a new position in Vornado Realty Trust in the 1st quarter worth about $55,000. Principal Securities Inc. acquired a new position in Vornado Realty Trust in the 4th quarter worth about $58,000. EverSource Wealth Advisors LLC increased its holdings in Vornado Realty Trust by 61.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,018 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Vornado Realty Trust by 98.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 2,465 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

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.