Vornado Realty Trust (NYSE:VNO) Stock Price Expected to Rise, Mizuho Analyst Says

Vornado Realty Trust (NYSE:VNO) had its price objective hoisted by analysts at Mizuho from $34.00 to $42.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Mizuho’s price objective indicates a potential upside of 5.65% from the company’s current price.

Several other research firms have also recently commented on VNO. Scotiabank lifted their price target on Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Thursday, June 18th. LADENBURG THALM/SH SH boosted their target price on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. raised their price target on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Truist Financial raised their target price on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Finally, Citigroup raised their price target on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Vornado Realty Trust presently has a consensus rating of “Hold” and an average target price of $37.00.

Vornado Realty Trust Stock Performance

Shares of VNO opened at $39.76 on Tuesday. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The stock has a market cap of $7.48 billion, a P/E ratio of 10.92, a PEG ratio of 2.03 and a beta of 1.53. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $43.37. The company has a 50-day moving average of $36.40 and a two-hundred day moving average of $31.90.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The firm had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.71 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, research analysts predict that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its board has approved a stock buyback plan on Wednesday, April 29th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total value of $4,883,277.00. Following the sale, the director directly owned 475,161 shares in the company, valued at approximately $17,400,395.82. This trade represents a 21.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of the stock in a transaction dated Monday, June 8th. The shares were purchased at an average price of $16.94 per share, with a total value of $67,760.00. Following the transaction, the director directly owned 13,000 shares of the company’s stock, valued at approximately $220,220. The trade was a 44.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 9.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in Vornado Realty Trust in the fourth quarter worth about $579,709,000. Resolution Capital Ltd lifted its position in shares of Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock valued at $193,885,000 after acquiring an additional 1,895,846 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Vornado Realty Trust by 21.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock worth $301,300,000 after purchasing an additional 1,598,643 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Vornado Realty Trust by 393,598.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust’s stock worth $34,983,000 after purchasing an additional 1,050,908 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Vornado Realty Trust by 129.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock worth $36,344,000 after purchasing an additional 788,067 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self?administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long?term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street?level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.