Vornado Realty Trust (NYSE:VNO) Given New $33.00 Price Target at Scotiabank

Vornado Realty Trust (NYSE:VNO) had its target price upped by Scotiabank from $23.00 to $33.00 in a report released on Wednesday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently commented on VNO. Piper Sandler raised shares of Vornado Realty Trust from an underweight rating to a neutral rating and increased their target price for the company from $22.00 to $30.00 in a research report on Thursday, August 8th. BMO Capital Markets upgraded Vornado Realty Trust from a market perform rating to an outperform rating and increased their price objective for the company from $29.00 to $40.00 in a report on Thursday, August 8th. Truist Financial boosted their target price on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a hold rating in a research note on Tuesday, August 27th. Evercore ISI increased their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the company an outperform rating in a research note on Wednesday, August 28th. Finally, Compass Point raised their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $30.23.

Vornado Realty Trust Price Performance

NYSE VNO opened at $33.43 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The firm’s 50 day moving average price is $30.40 and its 200-day moving average price is $27.41. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $35.26. The company has a market cap of $6.37 billion, a PE ratio of 222.87 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The business had revenue of $450.27 million for the quarter, compared to the consensus estimate of $439.28 million. During the same quarter in the prior year, the business posted $0.72 earnings per share. Vornado Realty Trust’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Vornado Realty Trust will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Vornado Realty Trust

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

Institutional Trading of Vornado Realty Trust

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vornado Realty Trust in the 2nd quarter valued at $48,000. Fidelis Capital Partners LLC purchased a new stake in Vornado Realty Trust during the first quarter worth $55,000. Principal Securities Inc. purchased a new stake in Vornado Realty Trust during the fourth quarter worth $58,000. EverSource Wealth Advisors LLC boosted its holdings in Vornado Realty Trust by 61.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 1,018 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Vornado Realty Trust by 98.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 2,465 shares in the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

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.