Vornado Realty Trust (NYSE:VNO) Receives $34.82 Consensus PT from Analysts

Shares of Vornado Realty Trust (NYSE:VNO) have received an average recommendation of “Hold” from the twelve research firms that are currently covering the company, Marketbeat reports. One investment 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 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $34.8182.

A number of brokerages recently commented on VNO. Piper Sandler decreased their target price on shares of 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. Mizuho dropped their price objective on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Morgan Stanley reduced their target price on Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Truist Financial cut their price objective on shares of Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Finally, Barclays lowered their target price on shares of 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.

Institutional Trading of Vornado Realty Trust

Large investors have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new position in shares of Vornado Realty Trust in the third quarter worth about $28,000. Advisory Services Network LLC purchased a new position in Vornado Realty Trust during the 3rd quarter worth approximately $33,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Vornado Realty Trust by 512.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 718 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Vornado Realty Trust by 100.0% in the third quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 443 shares during the period. Finally, Quent Capital LLC acquired a new position in Vornado Realty Trust during the third quarter valued at $39,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Trading Down 3.2%

Shares of VNO opened at $29.33 on Thursday. The business’s 50-day moving average price is $27.32 and its 200-day moving average price is $32.00. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 1.44. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37. The stock has a market cap of $5.53 billion, a PE ratio of 7.00, a P/E/G ratio of 1.63 and a beta of 1.51.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, February 9th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The firm had revenue of $453.71 million during the quarter, compared to the consensus estimate of $440.23 million. During the same period in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts forecast that Vornado Realty Trust will post 2.33 EPS for the current fiscal year.

Vornado Realty Trust announced that its board has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

About Vornado Realty Trust

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.