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

Vornado Realty Trust (NYSE:VNO) has earned an average recommendation of “Reduce” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.43.

A number of research firms have weighed in on VNO. Truist Financial boosted their target price on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th. Bank of America increased their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Compass Point boosted their target price on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research report on Thursday, September 12th. Finally, StockNews.com raised Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th.

Vornado Realty Trust Trading Down 0.2 %

Shares of Vornado Realty Trust stock opened at $39.31 on Wednesday. The firm’s 50-day moving average price is $33.55 and its two-hundred day moving average price is $28.74. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 262.08 and a beta of 1.65. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a 12-month low of $18.36 and a 12-month high of $39.91.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. During the same period in the prior year, the company posted $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, analysts forecast that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the sale, the director now owns 3,034 shares in the company, valued at approximately $85,528.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.14% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds and other institutional 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% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 386 shares in the last quarter. First National Bank Sioux Falls lifted its holdings in Vornado Realty Trust by 3.3% in the first quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock valued at $440,000 after acquiring an additional 496 shares during the period. Retirement Systems of Alabama boosted its holdings in Vornado Realty Trust by 0.3% during the first quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock worth $5,776,000 after buying an additional 527 shares in the last quarter. State of Alaska Department of Revenue grew its holdings 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 worth $2,921,000 after acquiring an additional 531 shares during the period. Finally, Park Avenue Securities LLC increased its position in shares of Vornado Realty Trust by 5.8% in the first quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 553 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

About Vornado Realty Trust

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.