Vornado Realty Trust (NYSE:VNO) Reaches New 1-Year High After Analyst Upgrade

Vornado Realty Trust (NYSE:VNO)’s stock price hit a new 52-week high on Wednesday after Compass Point raised their price target on the stock from $32.00 to $40.00. Compass Point currently has a neutral rating on the stock. Vornado Realty Trust traded as high as $44.07 and last traded at $43.14, with a volume of 360451 shares trading hands. The stock had previously closed at $42.75.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group increased their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research report on Thursday, September 12th. Scotiabank lifted their target price on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Evercore ISI increased their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday. 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 research report on Tuesday, August 27th. Finally, BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their target price for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.07.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNO. Blue Trust Inc. grew its position in shares of Vornado Realty Trust by 331.0% during the 3rd quarter. Blue Trust Inc. now owns 1,099 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 844 shares during the period. Assetmark Inc. raised its position in shares of Vornado Realty Trust by 122.2% during the 3rd quarter. Assetmark Inc. now owns 1,202 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 661 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at $48,000. Farther Finance Advisors LLC boosted its position in shares of Vornado Realty Trust by 42.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,229 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 665 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Vornado Realty Trust by 61.0% during the first 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. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Trading Up 1.9 %

The business has a 50 day moving average of $39.09 and a 200 day moving average of $31.40. 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 $8.30 billion, a price-to-earnings ratio of -150.24 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The company had revenue of $443.26 million during the quarter, compared to the consensus estimate of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.69%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.66 earnings per share. As a group, research analysts predict that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.