Vornado Realty Trust (NYSE:VNO) Price Target Raised to $38.00

Vornado Realty Trust (NYSE:VNO) had its price objective lifted by Scotiabank from $33.00 to $38.00 in a report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on VNO. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $29.00 to $40.00 in a report on Thursday, August 8th. Evercore ISI raised their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Piper Sandler reaffirmed a “neutral” rating and set a $44.00 price objective (up from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. Finally, Bank of America lifted their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.16.

Vornado Realty Trust Price Performance

Shares of NYSE:VNO opened at $43.17 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. Vornado Realty Trust has a 12 month low of $18.36 and a 12 month high of $44.00. The firm has a market capitalization of $8.22 billion, a P/E ratio of 287.80 and a beta of 1.65. The company’s fifty day moving average price is $37.74 and its 200 day moving average price is $30.53.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The firm had revenue of $450.27 million during the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, sell-side analysts predict that Vornado Realty Trust will post 2.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can lifted its stake in shares of Vornado Realty Trust by 2,229.1% in 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 during the period. Natixis acquired a new stake in shares of Vornado Realty Trust during the 1st quarter valued at approximately $21,564,000. Duff & Phelps Investment Management Co. boosted its stake in shares of Vornado Realty Trust by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after acquiring an additional 612,765 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Vornado Realty Trust by 324.8% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock worth $20,292,000 after acquiring an additional 590,176 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in Vornado Realty Trust in the 1st quarter valued at approximately $12,824,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.