Vornado Realty Trust (NYSE:VNO) Price Target Raised to $40.00

Vornado Realty Trust (NYSE:VNO) had its target price lifted by Truist Financial from $31.00 to $40.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on VNO. The Goldman Sachs Group raised their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research report on Thursday, September 12th. Scotiabank raised their price objective on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Piper Sandler reaffirmed a “neutral” rating and set a $44.00 target price (up previously from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. Evercore ISI increased their target price on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Finally, Barclays boosted their price target on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Vornado Realty Trust has a consensus rating of “Hold” and a consensus price target of $36.58.

Vornado Realty Trust Price Performance

Shares of NYSE VNO opened at $44.24 on Wednesday. The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.97 and a current ratio of 4.97. The firm has a fifty day moving average of $42.01 and a 200 day moving average of $34.00. The firm has a market cap of $8.43 billion, a PE ratio of -152.55 and a beta of 1.63. Vornado Realty Trust has a one year low of $22.42 and a one year high of $46.63.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The company had revenue of $443.26 million for the quarter, compared to analysts’ expectations of $445.07 million. Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. As a group, research analysts predict that Vornado Realty Trust will post 2.16 EPS for the current fiscal year.

Vornado Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be given a dividend of $0.74 per share. This is a boost from Vornado Realty Trust’s previous quarterly dividend of $0.30. This represents a $2.96 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Monday, December 16th. Vornado Realty Trust’s dividend payout ratio (DPR) is presently -103.45%.

Hedge Funds Weigh In On Vornado Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of Vornado Realty Trust by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 11,107,586 shares of the real estate investment trust’s stock valued at $444,859,000 after buying an additional 592,412 shares during the period. Geode Capital Management LLC increased its stake in Vornado Realty Trust by 1.3% during the third quarter. Geode Capital Management LLC now owns 3,106,295 shares of the real estate investment trust’s stock worth $122,417,000 after acquiring an additional 39,147 shares during the last quarter. Principal Financial Group Inc. increased its stake in Vornado Realty Trust by 428.3% during the third quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock worth $111,146,000 after acquiring an additional 2,286,997 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Vornado Realty Trust by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,801,260 shares of the real estate investment trust’s stock valued at $110,370,000 after purchasing an additional 149,017 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Vornado Realty Trust by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after purchasing an additional 612,765 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

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