Vornado Realty Trust (NYSE:VNO) Price Target Cut to $28.00 by Analysts at Piper Sandler

Vornado Realty Trust (NYSE:VNO) had its target price decreased by equities researchers at Piper Sandler from $36.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target indicates a potential upside of 8.26% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Wall Street Zen cut Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Mizuho cut their price target on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Vornado Realty Trust in a research report on Monday, December 29th. Barclays dropped their target price on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Vornado Realty Trust from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.82.

Vornado Realty Trust Price Performance

NYSE:VNO traded down $0.13 during midday trading on Wednesday, hitting $25.86. 927,538 shares of the stock were exchanged, compared to its average volume of 2,093,776. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 1.36 and a beta of 1.53. The business has a 50-day moving average price of $28.61 and a two-hundred day moving average price of $33.85. The company has a current ratio of 5.25, a quick ratio of 5.25 and a debt-to-equity ratio of 1.44.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings results on Monday, February 9th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.64%. The firm had revenue of $453.71 million for the quarter, compared to the consensus estimate of $440.23 million. During the same period in the previous year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts predict that Vornado Realty Trust will post 2.31 EPS for the current year.

Institutional Trading of Vornado Realty Trust

A number of hedge funds have recently bought and sold shares of the company. Danske Bank A S acquired a new position in shares of Vornado Realty Trust in the third quarter worth about $28,000. Advisory Services Network LLC acquired a new stake in shares of Vornado Realty Trust in the third quarter worth $33,000. Farmers & Merchants Investments Inc. boosted its position in shares of Vornado Realty Trust by 512.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 718 shares during the period. Westside Investment Management Inc. grew its holdings in shares of Vornado Realty Trust by 100.0% during the third quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 443 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Vornado Realty Trust during the third quarter valued at $39,000. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.