Vornado Realty Trust (NYSE:VNO) Sets New 1-Year High – What’s Next?

Vornado Realty Trust (NYSE:VNO) shares reached a new 52-week high on Friday . The company traded as high as $40.29 and last traded at $40.15, with a volume of 45717 shares. The stock had previously closed at $39.42.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Scotiabank boosted their price target on shares of Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Truist Financial lifted their price objective on Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group increased their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a report on Thursday, September 12th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Vornado Realty Trust has a consensus rating of “Hold” and a consensus price target of $30.43.

Vornado Realty Trust Stock Up 1.2 %

The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 262.15 and a beta of 1.65. The firm has a fifty day moving average price of $34.20 and a 200 day moving average price of $28.98. 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 (NYSE:VNO) last announced its earnings results 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 business had revenue of $450.27 million for the quarter, compared to the consensus estimate of $439.28 million. During the same quarter in the previous year, the company posted $0.72 EPS. Vornado Realty Trust’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts anticipate that Vornado Realty Trust will post 2.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the company’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 transaction, the director now directly owns 3,034 shares in the company, valued at $85,528.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.14% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nomura Holdings Inc. lifted its holdings in Vornado Realty Trust by 2,410.2% in the fourth quarter. Nomura Holdings Inc. now owns 973,035 shares of the real estate investment trust’s stock valued at $27,488,000 after buying an additional 934,271 shares during the period. Bank of Montreal Can raised its position in shares of Vornado Realty Trust by 2,229.1% during the 2nd quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after acquiring an additional 818,838 shares during the last quarter. Natixis acquired a new position in shares of Vornado Realty Trust in the 1st quarter valued at $21,564,000. Duff & Phelps Investment Management Co. lifted its stake in shares of Vornado Realty Trust by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock valued at $51,875,000 after purchasing an additional 612,765 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position 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 purchasing an additional 590,176 shares during the last quarter. 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.