Vornado Realty Trust (NYSE:VNO) Price Target Increased to $33.00 by Analysts at Scotiabank

Vornado Realty Trust (NYSE:VNO) had its price target hoisted by Scotiabank from $23.00 to $33.00 in a research report report published on Wednesday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on VNO. Bank of America boosted 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. The Goldman Sachs Group upped their price objective on shares of Vornado Realty Trust from $19.00 to $21.50 and gave the stock a sell rating in a report on Tuesday, August 27th. StockNews.com upgraded shares of Vornado Realty Trust to a sell rating in a report on Saturday, July 20th. Compass Point upped their price objective on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Finally, Truist Financial upped their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the stock a hold rating in a report on Tuesday, August 27th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $30.23.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $33.68 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 224.55 and a beta of 1.65. The company’s 50-day moving average is $30.10 and its two-hundred day moving average is $27.31. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $35.26.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Analysts forecast that Vornado Realty Trust will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the 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 sale, the director now directly owns 3,034 shares in the company, valued at approximately $85,528.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vornado Realty Trust

A number of large investors have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its position in shares of Vornado Realty Trust by 3.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 386 shares during the last quarter. First National Bank Sioux Falls increased its position in shares of Vornado Realty Trust by 3.3% in the 1st quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 496 shares during the last quarter. Metis Global Partners LLC grew its position in shares of Vornado Realty Trust by 5.3% in the 4th quarter. Metis Global Partners LLC now owns 9,886 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 499 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Vornado Realty Trust by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock valued at $5,776,000 after buying an additional 527 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of Vornado Realty Trust by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock valued at $2,921,000 after buying an additional 531 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

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.