Vornado Realty Trust (NYSE:VNO) Price Target Cut to $38.00 by Analysts at Piper Sandler

by · The Markets Daily

Vornado Realty Trust (NYSE:VNO – Free Report) had its price target decreased by Piper Sandler from $39.00 to $38.00 in a report issued on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Several other research firms have also weighed in on VNO. Barclays lifted their target price on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Thursday, August 21st. Citigroup raised shares of Vornado Realty Trust from a “sell” rating to a “neutral” rating and lifted their target price for the company from $34.00 to $42.00 in a report on Friday, September 12th. Scotiabank cut their target price on shares of Vornado Realty Trust from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, August 28th. Mizuho cut their target price on shares of Vornado Realty Trust from $48.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, July 14th. Finally, Evercore ISI lifted their target price on shares of Vornado Realty Trust from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Monday, September 15th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Vornado Realty Trust has a consensus rating of “Hold” and a consensus target price of $39.33.

View Our Latest Report on Vornado Realty Trust

Vornado Realty Trust Stock Performance

VNO opened at $35.51 on Wednesday. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $46.63. The company has a current ratio of 6.82, a quick ratio of 6.82 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $6.82 billion, a PE ratio of 8.79, a P/E/G ratio of 4.57 and a beta of 1.57. The firm has a 50 day moving average of $39.81 and a two-hundred day moving average of $38.74.

Vornado Realty Trust (NYSE:VNO – Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. Vornado Realty Trust had a net margin of 48.49% and a return on equity of 19.64%. The company had revenue of $453.70 million during the quarter, compared to analyst estimates of $435.19 million. During the same period last year, the firm posted $0.52 EPS. Vornado Realty Trust’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current year.

Insider Buying and Selling

In related news, EVP Haim Chera sold 30,000 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $39.64, for a total value of $1,189,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.42% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNO. Teacher Retirement System of Texas purchased a new stake in Vornado Realty Trust in the 1st quarter worth $876,000. Mutual Advisors LLC purchased a new stake in Vornado Realty Trust in the 1st quarter worth $201,000. State of Michigan Retirement System boosted its stake in Vornado Realty Trust by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 39,700 shares of the real estate investment trust’s stock worth $1,469,000 after purchasing an additional 400 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Vornado Realty Trust by 0.7% during the 1st quarter. New York State Common Retirement Fund now owns 908,545 shares of the real estate investment trust’s stock worth $33,607,000 after purchasing an additional 6,678 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Vornado Realty Trust by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 46,500 shares of the real estate investment trust’s stock worth $1,720,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

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

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