Citigroup Issues Positive Forecast for Vornado Realty Trust (NYSE:VNO) Stock Price

Vornado Realty Trust (NYSE:VNO) had its price objective hoisted by Citigroup from $32.00 to $34.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the stock. Scotiabank dropped their price objective on shares of Vornado Realty Trust from $36.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Mizuho dropped their price objective 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 downgraded shares of Vornado Realty Trust from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Morgan Stanley lowered their price target on shares of Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Vornado Realty Trust from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.09.

Vornado Realty Trust Stock Up 0.3%

VNO opened at $32.15 on Friday. The firm has a 50-day simple moving average of $27.51 and a two-hundred day simple moving average of $31.70. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $43.37. The company has a market capitalization of $6.05 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 1.75 and a beta of 1.53. The company has a quick ratio of 5.25, a current ratio of 6.14 and a debt-to-equity ratio of 1.54.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The company had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. During the same period last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts forecast that Vornado Realty Trust will post 2.33 earnings per share for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has approved a share buyback plan on Wednesday, April 29th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Private Management Group Inc. raised its position in Vornado Realty Trust by 19.5% in the 3rd quarter. Private Management Group Inc. now owns 772,352 shares of the real estate investment trust’s stock worth $31,303,000 after purchasing an additional 126,242 shares during the period. Centersquare Investment Management LLC raised its position in Vornado Realty Trust by 1.4% in the 3rd quarter. Centersquare Investment Management LLC now owns 3,172,261 shares of the real estate investment trust’s stock worth $128,572,000 after purchasing an additional 42,323 shares during the period. Lighthouse Investment Partners LLC raised its position in Vornado Realty Trust by 20.9% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 260,000 shares of the real estate investment trust’s stock worth $10,538,000 after purchasing an additional 45,000 shares during the period. Vestcor Inc purchased a new position in shares of Vornado Realty Trust during the third quarter worth approximately $4,572,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Vornado Realty Trust during the third quarter worth approximately $6,261,000. Institutional investors own 90.02% of the company’s stock.

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.