Vornado Realty Trust (NYSE:VNO) Price Target Raised to $41.00

Vornado Realty Trust (NYSE:VNO) had its price target lifted by Scotiabank from $40.00 to $41.00 in a report published on Wednesday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other research firms also recently commented on VNO. Mizuho lifted their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Truist Financial upped their target price on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, June 26th. BMO Capital Markets raised their price target on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Barclays lifted their price target on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, UBS Group cut shares of Vornado Realty Trust to an “underweight” rating in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.91.

Vornado Realty Trust Stock Performance

Shares of VNO opened at $36.59 on Wednesday. The business’s fifty day simple moving average is $39.07 and its two-hundred day simple moving average is $33.44. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 1,830.42, a P/E/G ratio of 1.69 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). The business had revenue of $462.24 million during the quarter, compared to the consensus estimate of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 EPS. Research analysts anticipate that Vornado Realty Trust will post 2.35 earnings per share for the current fiscal year.

Insider Activity at Vornado Realty Trust

In other news, Director Michael D. Fascitelli sold 133,350 shares of the company’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 completion of the sale, the director directly owned 475,161 shares in the company, valued at $17,400,395.82. This represents a 21.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Russell B. Wight, Jr. bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the acquisition, the director owned 13,000 shares in the company, valued at $220,220. This trade represents a 44.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 9.00% of the stock is currently owned by company insiders.

Institutional Trading of Vornado Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in shares of Vornado Realty Trust by 18.3% during the 1st quarter. Royal Bank of Canada now owns 27,507 shares of the real estate investment trust’s stock valued at $1,017,000 after acquiring an additional 4,251 shares during the period. AQR Capital Management LLC increased its holdings in Vornado Realty Trust by 18.7% in the 1st quarter. AQR Capital Management LLC now owns 51,939 shares of the real estate investment trust’s stock worth $1,903,000 after acquiring an additional 8,189 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Vornado Realty Trust by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 613,806 shares of the real estate investment trust’s stock worth $22,705,000 after acquiring an additional 112,956 shares during the period. Marshall Wace LLP bought a new stake in Vornado Realty Trust during the 2nd quarter worth approximately $763,000. Finally, California Public Employees Retirement System raised its stake in Vornado Realty Trust by 9.6% during the 2nd quarter. California Public Employees Retirement System now owns 365,237 shares of the real estate investment trust’s stock worth $13,967,000 after acquiring an additional 32,028 shares during the period. Hedge funds and other institutional investors 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.