Analysts Set Vornado Realty Trust (NYSE:VNO) Price Target at $34.09

Vornado Realty Trust (NYSE:VNO) has received an average recommendation of “Hold” from the twelve brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $34.1818.

Several equities research analysts recently weighed in on the company. Piper Sandler dropped their price target on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Barclays lowered their price objective on Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Truist Financial lowered their price objective on Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Scotiabank lifted their price objective on Vornado Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, Citigroup lifted their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, May 8th.

Vornado Realty Trust Trading Up 1.2%

NYSE VNO opened at $32.00 on Monday. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37. The firm has a market capitalization of $6.02 billion, a PE ratio of 8.79, a P/E/G ratio of 1.60 and a beta of 1.53. The stock’s 50 day moving average is $28.31 and its 200 day moving average is $31.17.

Vornado Realty Trust (NYSE:VNO) last released its quarterly 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). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The firm had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts forecast that Vornado Realty Trust will post 2.33 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has initiated a share 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Essential Partners LLC raised its stake in Vornado Realty Trust by 186.9% during the first quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 770 shares during the last quarter. Bank of America Corp DE raised its stake in Vornado Realty Trust by 5.7% during the first quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust’s stock valued at $32,916,000 after buying an additional 68,267 shares during the last quarter. Kentucky Retirement Systems purchased a new position in Vornado Realty Trust during the first quarter valued at $373,000. Lodge Hill Capital LLC purchased a new position in Vornado Realty Trust during the first quarter valued at $11,046,000. Finally, Amundi raised its stake in Vornado Realty Trust by 8.2% during the first quarter. Amundi now owns 101,893 shares of the real estate investment trust’s stock valued at $2,648,000 after buying an additional 7,709 shares during the last quarter. 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.