Vornado Realty Trust (NYSE:VNO) Stock Has Consensus Target Price of $39.91 According to Brokerages

Vornado Realty Trust (NYSE:VNO) has received an average rating of “Hold” from the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $39.55.

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on Vornado Realty Trust from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. BMO Capital Markets upped their target price on Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Barclays increased their target price on Vornado Realty Trust from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Truist Financial reduced their price target on shares of Vornado Realty Trust from $39.00 to $35.00 and set a “hold” rating for the company in a research report on Monday. Finally, Morgan Stanley lowered shares of Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research note on Wednesday, July 22nd.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System purchased a new position in Vornado Realty Trust during the 1st quarter worth $1,206,000. Wellington Management Group LLP raised its holdings in shares of Vornado Realty Trust by 440.6% in the second quarter. Wellington Management Group LLP now owns 598,395 shares of the real estate investment trust’s stock valued at $23,517,000 after purchasing an additional 487,710 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Vornado Realty Trust by 9.1% during the fourth quarter. Legal & General Group Plc now owns 1,789,601 shares of the real estate investment trust’s stock valued at $59,558,000 after purchasing an additional 149,598 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Vornado Realty Trust by 5.7% during the first quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust’s stock valued at $32,916,000 after purchasing an additional 68,267 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Vornado Realty Trust by 129.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock worth $36,344,000 after purchasing an additional 788,067 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

Vornado Realty Trust Price Performance

Shares of NYSE VNO opened at $34.29 on Friday. The firm has a market capitalization of $6.40 billion, a P/E ratio of 1,715.41, a P/E/G ratio of 1.58 and a beta of 1.53. The firm’s 50-day moving average price is $37.81 and its 200-day moving average price is $34.12. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $41.85.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. The firm had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Equities research analysts anticipate that Vornado Realty Trust will post 2.42 earnings per share for the current fiscal year.

About Vornado Realty Trust

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company’s portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado’s activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.