Vornado Realty Trust (NYSE:VNO) Receives $29.32 Consensus PT from Analysts

Shares of Vornado Realty Trust (NYSE:VNO) have earned an average rating of “Reduce” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $30.23.

Several research analysts have recently weighed in on VNO shares. Truist Financial upped their price target on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Piper Sandler raised Vornado Realty Trust from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $22.00 to $30.00 in a research report on Thursday, August 8th. Evercore ISI lifted their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Finally, Bank of America raised their price target on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd.

Insider Buying and Selling at Vornado Realty Trust

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $85,528.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.14% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its position in shares of Vornado Realty Trust by 15.6% in the fourth quarter. Van ECK Associates Corp now owns 70,024 shares of the real estate investment trust’s stock valued at $1,978,000 after purchasing an additional 9,468 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Vornado Realty Trust by 48.7% in the 4th quarter. Victory Capital Management Inc. now owns 55,752 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 18,249 shares in the last quarter. M&T Bank Corp increased its position in Vornado Realty Trust by 141.1% during the 4th quarter. M&T Bank Corp now owns 71,190 shares of the real estate investment trust’s stock worth $2,011,000 after buying an additional 41,657 shares during the period. National Bank of Canada FI lifted its holdings in shares of Vornado Realty Trust by 5.6% during the fourth quarter. National Bank of Canada FI now owns 850,000 shares of the real estate investment trust’s stock worth $24,395,000 after buying an additional 44,700 shares in the last quarter. Finally, Valley Brook Capital Group Inc. bought a new stake in shares of Vornado Realty Trust in the fourth quarter valued at about $316,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Price Performance

VNO opened at $33.68 on Friday. The stock has a market cap of $6.42 billion, a P/E ratio of 224.55 and a beta of 1.65. Vornado Realty Trust has a 12 month low of $18.36 and a 12 month high of $35.26. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The company has a fifty day simple moving average of $30.10 and a 200 day simple moving average of $27.31.

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 the consensus estimate of $0.55 by ($0.37). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The business had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue was down 4.7% compared to the same quarter last year. On average, research analysts expect that Vornado Realty Trust will post 2.16 EPS for the current 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.