Truist Financial Has Lowered Expectations for Vornado Realty Trust (NYSE:VNO) Stock Price

Vornado Realty Trust (NYSE:VNO) had its price target reduced by investment analysts at Truist Financial from $39.00 to $35.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential downside of 0.66% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Piper Sandler raised their price objective on shares of Vornado Realty Trust from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. BMO Capital Markets increased their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. raised their price target on shares of Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 15th. UBS Group cut shares of Vornado Realty Trust to an “underweight” rating in a report on Wednesday, July 22nd. Finally, Barclays upped their price objective on Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $39.55.

Vornado Realty Trust Stock Down 1.0%

VNO stock opened at $35.23 on Monday. The stock has a market cap of $6.58 billion, a P/E ratio of 1,762.43, a P/E/G ratio of 1.59 and a beta of 1.53. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. The stock’s fifty day simple moving average is $38.05 and its two-hundred day simple moving average is $34.03. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $42.17.

Vornado Realty Trust (NYSE:VNO) last released 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 for 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 company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. Analysts expect that Vornado Realty Trust will post 2.42 EPS for the current year.

Hedge Funds Weigh In On Vornado Realty Trust

Several large investors have recently modified their holdings of VNO. Sequoia Financial Advisors LLC lifted its stake in shares of Vornado Realty Trust by 35.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust’s stock valued at $553,000 after buying an additional 3,688 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Vornado Realty Trust by 33.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust’s stock valued at $1,198,000 after buying an additional 7,643 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Vornado Realty Trust during the 2nd quarter valued at $222,000. Squarepoint Ops LLC raised its holdings in Vornado Realty Trust by 65.9% during the 2nd quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust’s stock valued at $5,263,000 after acquiring an additional 53,208 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Vornado Realty Trust by 272.7% during the second quarter. Allworth Financial LP now owns 6,478 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 4,740 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company’s portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado’s activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.