Vornado Realty Trust (NYSE:VNO) Given New $21.50 Price Target at The Goldman Sachs Group

Vornado Realty Trust (NYSE:VNO) had its target price upped by The Goldman Sachs Group from $19.00 to $21.50 in a report published on Tuesday morning, Benzinga reports. They currently have a sell rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on VNO. BMO Capital Markets upgraded shares of Vornado Realty Trust from a market perform rating to an outperform rating and lifted their price target for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Scotiabank reduced their price objective on Vornado Realty Trust from $24.00 to $23.00 and set a sector perform rating for the company in a report on Thursday, May 16th. StockNews.com raised Vornado Realty Trust to a sell rating in a report on Saturday, July 20th. Compass Point lifted their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Finally, Piper Sandler raised shares of Vornado Realty Trust from an underweight rating to a neutral rating and increased their price objective for the company from $22.00 to $30.00 in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $29.14.

Vornado Realty Trust Trading Down 0.3 %

NYSE:VNO opened at $34.20 on Tuesday. Vornado Realty Trust has a 1 year low of $18.36 and a 1 year high of $35.26. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The stock has a fifty day moving average price of $29.10 and a two-hundred day moving average price of $26.96. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 228.02 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly 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 company had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.13 earnings per share for the current fiscal year.

Insider Activity at Vornado Realty Trust

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the sale, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VNO. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vornado Realty Trust in the second quarter valued at $48,000. Fidelis Capital Partners LLC acquired a new position in shares of Vornado Realty Trust during the 1st quarter valued at about $55,000. Principal Securities Inc. purchased a new position in shares of Vornado Realty Trust during the 4th quarter worth about $58,000. EverSource Wealth Advisors LLC boosted its position in shares of Vornado Realty Trust by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Vornado Realty Trust by 98.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 2,465 shares during the period. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.