Vornado Realty Trust (NYSE:VNO) Price Target Raised to $23.75

Vornado Realty Trust (NYSE:VNO) had its target price raised by The Goldman Sachs Group from $21.50 to $23.75 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a sell rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America upped their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a neutral rating in a research note on Thursday, August 22nd. Scotiabank raised their price objective on Vornado Realty Trust from $23.00 to $33.00 and gave the company a sector perform rating in a research note on Wednesday, September 4th. BMO Capital Markets raised Vornado Realty Trust from a market perform rating to an outperform rating and boosted their target price for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. Compass Point lifted their price target 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. Finally, Barclays increased their price objective 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. Four equities 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 company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $30.43.

Vornado Realty Trust Stock Up 1.2 %

Shares of NYSE:VNO opened at $36.37 on Thursday. The firm has a market capitalization of $6.93 billion, a PE ratio of 242.48 and a beta of 1.65. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $36.62. The firm has a fifty day moving average of $31.28 and a 200 day moving average of $27.72.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.37). The firm had revenue of $450.27 million for the quarter, compared to the consensus estimate of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. Vornado Realty Trust’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. As a group, research analysts anticipate that Vornado Realty Trust will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling at Vornado Realty Trust

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Vornado Realty Trust by 48.7% in the fourth quarter. Victory Capital Management Inc. now owns 55,752 shares of the real estate investment trust’s stock worth $1,575,000 after purchasing an additional 18,249 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Vornado Realty Trust by 29.5% in the 4th quarter. Private Advisor Group LLC now owns 15,287 shares of the real estate investment trust’s stock worth $432,000 after acquiring an additional 3,479 shares in the last quarter. Principal Securities Inc. purchased a new position in Vornado Realty Trust during the 4th quarter valued at about $58,000. Jump Financial LLC boosted its stake in Vornado Realty Trust by 26.1% during the fourth quarter. Jump Financial LLC now owns 45,940 shares of the real estate investment trust’s stock worth $1,298,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Vornado Realty Trust in the fourth quarter worth about $1,819,000. Hedge funds and other institutional investors 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.