Vornado Realty Trust (NYSE:VNO) Receives $29.32 Consensus Target Price from Brokerages

Vornado Realty Trust (NYSE:VNO) has been assigned a consensus recommendation of “Reduce” from the eleven analysts that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $29.32.

Several equities analysts have recently issued reports on the company. Evercore ISI increased their price objective on Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Piper Sandler upgraded shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $30.00 in a report on Thursday, August 8th. Scotiabank lowered their price objective on shares of Vornado Realty Trust from $24.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th. Barclays increased their price target on Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th. Finally, Compass Point boosted their price objective on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th.

Insider Activity

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. acquired a new position in shares of Vornado Realty Trust in the fourth quarter worth $2,320,000. Waterloo Capital L.P. acquired a new position in Vornado Realty Trust in the 4th quarter worth about $2,410,000. Sei Investments Co. raised its stake in shares of Vornado Realty Trust by 5.7% during the 1st quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock worth $13,501,000 after purchasing an additional 25,374 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Vornado Realty Trust by 5.6% during the 4th quarter. National Bank of Canada FI now owns 850,000 shares of the real estate investment trust’s stock valued at $24,395,000 after buying an additional 44,700 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Vornado Realty Trust by 14.9% in the 4th quarter. Cibc World Markets Corp now owns 413,568 shares of the real estate investment trust’s stock valued at $11,683,000 after buying an additional 53,568 shares in the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Trading Up 1.2 %

NYSE:VNO opened at $34.37 on Friday. The company has a market cap of $6.55 billion, a PE ratio of 229.15 and a beta of 1.65. The business’s 50 day moving average is $29.76 and its two-hundred day moving average is $27.21. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a 52 week low of $18.36 and a 52 week high of $35.26.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data 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). 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 analyst estimates of $439.28 million. During the same period in the prior year, the firm earned $0.72 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts predict 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.