Vornado Realty Trust (NYSE:VNO) Receives $30.43 Consensus Price Target from Analysts

Shares of Vornado Realty Trust (NYSE:VNO) have been assigned an average rating of “Reduce” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $30.43.

VNO has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price target on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research note on Thursday, September 12th. Barclays boosted their target price on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Truist Financial raised their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Tuesday, August 27th. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. Finally, Scotiabank raised their target price on shares of Vornado Realty Trust from $23.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 4th.

Insider Activity

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

Institutional Investors Weigh In On Vornado Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Putnam Investments LLC lifted its holdings in shares of Vornado Realty Trust by 3.0% in the fourth quarter. Putnam Investments LLC now owns 9,978,649 shares of the real estate investment trust’s stock valued at $281,897,000 after purchasing an additional 288,952 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Vornado Realty Trust by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock valued at $178,264,000 after buying an additional 44,147 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in Vornado Realty Trust by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after buying an additional 612,765 shares during the last quarter. Bank of New York Mellon Corp increased its position in Vornado Realty Trust by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock worth $40,568,000 after buying an additional 24,322 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Vornado Realty Trust by 131.8% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,007,733 shares of the real estate investment trust’s stock worth $28,468,000 after acquiring an additional 572,955 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Up 0.1 %

Vornado Realty Trust stock opened at $38.88 on Wednesday. The stock has a market cap of $7.41 billion, a PE ratio of 259.22 and a beta of 1.65. 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 fifty day moving average is $33.34 and its two-hundred day moving average is $28.64. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $39.91.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The business had revenue of $450.27 million during the quarter, compared to analyst estimates of $439.28 million. During the same period last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Vornado Realty Trust will post 2.17 EPS for the current fiscal year.

Vornado Realty Trust Company Profile

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.