Vornado Realty Trust (NYSE:VNO) PT Raised to $33.00

Vornado Realty Trust (NYSE:VNO) had its price target boosted by equities researchers at Scotiabank from $23.00 to $33.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target suggests a potential downside of 1.90% from the company’s previous close.

VNO has been the subject of a number of other reports. Compass Point boosted their price objective on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Evercore ISI upped their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Truist Financial boosted 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. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $29.00 to $40.00 in a report on Thursday, August 8th. Finally, Barclays upped their target price on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.23.

Vornado Realty Trust Price Performance

NYSE VNO opened at $33.64 on Wednesday. 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 stock has a market capitalization of $6.41 billion, a PE ratio of 224.28 and a beta of 1.65. The company has a 50 day moving average price of $30.26 and a two-hundred day moving average price of $27.35. Vornado Realty Trust has a 12-month low of $18.36 and a 12-month high of $35.26.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share 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 firm had revenue of $450.27 million during the quarter, compared to analyst estimates of $439.28 million. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Vornado Realty Trust’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities analysts predict that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of Vornado Realty Trust stock in a transaction that occurred on 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 owns 3,034 shares of the company’s stock, valued at $85,528.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.14% of the stock is owned by insiders.

Institutional Trading of Vornado Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in VNO. Norges Bank acquired a new stake in shares of Vornado Realty Trust in the fourth quarter valued at approximately $489,922,000. Nomura Holdings Inc. increased its holdings in Vornado Realty Trust by 2,410.2% during the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock worth $27,488,000 after buying an additional 934,271 shares during the last quarter. Bank of Montreal Can increased its holdings in Vornado Realty Trust by 2,229.1% during the second quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock worth $22,502,000 after buying an additional 818,838 shares during the last quarter. Natixis bought a new position in Vornado Realty Trust during the first quarter worth $21,564,000. Finally, Duff & Phelps Investment Management Co. boosted its position in Vornado Realty Trust by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

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.