Vornado Realty Trust (NYSE:VNO) PT Raised to $39.00

Vornado Realty Trust (NYSE:VNO) had its target price boosted by Evercore ISI from $38.00 to $39.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 14.81% from the company’s previous close.

VNO has been the subject of several other reports. Scotiabank lowered their price objective on shares of 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. Piper Sandler upgraded shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $22.00 to $30.00 in a report on Thursday, August 8th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $29.00 to $40.00 in a report on Thursday, August 8th. Bank of America lifted their target price on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, Barclays lifted their target price on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.32.

Vornado Realty Trust Stock Performance

Vornado Realty Trust stock opened at $33.97 on Wednesday. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $35.26. The firm has a 50-day moving average of $29.42 and a 200-day moving average of $27.06. The firm has a market cap of $6.47 billion, a P/E ratio of 226.48 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.37). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. During the same quarter last year, the business earned $0.72 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis. Sell-side analysts expect that Vornado Realty Trust will post 2.13 EPS for the current year.

Insider Activity at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at $85,528.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Vornado Realty Trust

A number of large investors have recently added to or reduced their stakes in VNO. Point72 Asia Singapore Pte. Ltd. bought a new stake in Vornado Realty Trust in the 2nd quarter worth approximately $48,000. Fidelis Capital Partners LLC bought a new stake in Vornado Realty Trust in the 1st quarter worth approximately $55,000. Principal Securities Inc. bought a new stake in Vornado Realty Trust in the 4th quarter worth approximately $58,000. EverSource Wealth Advisors LLC grew its position in Vornado Realty Trust by 61.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,018 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Vornado Realty Trust by 98.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 2,465 shares during the period. 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.