Vornado Realty Trust (NYSE:VNO) Hits New 1-Year High on Analyst Upgrade

Shares of Vornado Realty Trust (NYSE:VNO) hit a new 52-week high during mid-day trading on Wednesday after Compass Point raised their price target on the stock from $32.00 to $40.00. Compass Point currently has a neutral rating on the stock. Vornado Realty Trust traded as high as $44.07 and last traded at $43.14, with a volume of 360451 shares traded. The stock had previously closed at $42.75.

A number of other brokerages have also commented on VNO. The Goldman Sachs Group increased their price target on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a report on Thursday, September 12th. Barclays boosted their target price on Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and increased their price target for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Bank of America lifted their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, Scotiabank upped their price objective on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Four investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.07.

Institutional Trading of Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Vornado Realty Trust by 331.0% in the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 844 shares during the period. Assetmark Inc. lifted its holdings in Vornado Realty Trust by 122.2% in the third quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 661 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vornado Realty Trust during the second quarter valued at approximately $48,000. EverSource Wealth Advisors LLC grew its stake in Vornado Realty Trust by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,018 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Vornado Realty Trust by 42.5% in the third quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 665 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Price Performance

The firm has a market cap of $8.53 billion, a PE ratio of -154.38 and a beta of 1.64. 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 firm has a 50-day simple moving average of $39.31 and a 200 day simple moving average of $31.49.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.61). The firm had revenue of $443.26 million for the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.69%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. As a group, equities analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.