Vornado Realty Trust (NYSE:VNO) Receives $30.43 Average PT from Analysts

Shares of Vornado Realty Trust (NYSE:VNO) have received an average rating of “Reduce” from the eleven ratings firms that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $30.43.

Several research analysts have commented on VNO shares. Piper Sandler raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $22.00 to $30.00 in a report on Thursday, August 8th. The Goldman Sachs Group increased their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research note on Thursday, September 12th. Truist Financial lifted their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday, August 27th. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Finally, Evercore ISI boosted their price objective on Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th.

Insider Buying and Selling

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 3,034 shares in the company, valued at $85,528.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of VNO. Nomura Holdings Inc. boosted its holdings in shares of Vornado Realty Trust by 2,410.2% in 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 period. Bank of Montreal Can boosted 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 valued at $22,502,000 after purchasing an additional 818,838 shares in the last quarter. Natixis bought a new stake in Vornado Realty Trust during the first quarter worth about $21,564,000. Duff & Phelps Investment Management Co. increased its holdings in shares of Vornado Realty Trust by 45.0% in the second 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 in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Vornado Realty Trust by 324.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock worth $20,292,000 after buying an additional 590,176 shares during the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Stock Performance

VNO opened at $39.31 on Wednesday. Vornado Realty Trust has a 12-month low of $18.36 and a 12-month high of $39.91. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 262.08 and a beta of 1.65. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The company’s 50 day moving average is $33.55 and its 200 day moving average is $28.74.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS 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 company had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. During the same period in the prior year, the business posted $0.72 earnings per share. Vornado Realty Trust’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that Vornado Realty Trust will post 2.16 EPS for the current year.

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.