Brokerages Set Vornado Realty Trust (NYSE:VNO) PT at $30.43

Vornado Realty Trust (NYSE:VNO) has been assigned a consensus rating of “Reduce” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $30.43.

VNO has been the topic of several analyst reports. Scotiabank raised their target price on Vornado Realty Trust from $23.00 to $33.00 and gave the company a “sector perform” rating in a report on Wednesday, September 4th. Evercore ISI boosted their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group upped their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research note on Thursday, September 12th. Piper Sandler raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $22.00 to $30.00 in a research note on Thursday, August 8th. Finally, Truist Financial upped their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th.

Insider Transactions at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the business’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 completion of the sale, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.14% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its holdings in shares of Vornado Realty Trust by 2,410.2% during 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 acquiring an additional 934,271 shares during the period. Bank of Montreal Can boosted its stake in 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 purchasing an additional 818,838 shares during the period. Natixis acquired a new position in Vornado Realty Trust during the 1st quarter valued at about $21,564,000. Duff & Phelps Investment Management Co. grew its position in 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 worth $51,875,000 after purchasing an additional 612,765 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Vornado Realty Trust by 324.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 771,864 shares of the real estate investment trust’s stock valued at $20,292,000 after purchasing an additional 590,176 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Trading Up 0.1 %

NYSE VNO opened at $38.88 on Wednesday. The company’s 50 day moving average price is $33.34 and its 200 day moving average price is $28.60. Vornado Realty Trust has a one year low of $18.36 and a one year high of $39.91. 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 firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of 259.22 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO) last released 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 net margin of 4.51% and a return on equity of 3.21%. The company had revenue of $450.27 million during the quarter, compared to analysts’ expectations of $439.28 million. During the same period last year, the business earned $0.72 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Vornado Realty Trust will post 2.17 EPS for the current year.

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.