Vornado Realty Trust (NYSE:VNO) Price Target Cut to $36.00 by Analysts at Piper Sandler

Vornado Realty Trust (NYSE:VNO) had its target price lowered by Piper Sandler from $38.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on VNO. Truist Financial reduced their price objective on Vornado Realty Trust from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Mizuho cut their price objective on Vornado Realty Trust from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, December 12th. Scotiabank decreased their price objective on shares of Vornado Realty Trust from $38.00 to $36.00 and set a “sector perform” rating for the company in a report on Wednesday, January 14th. JPMorgan Chase & Co. upgraded shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price objective for the company in a research report on Monday, November 24th. Finally, Evercore dropped their target price on Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Three 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’s stock. Based on data from MarketBeat.com, Vornado Realty Trust currently has a consensus rating of “Hold” and an average price target of $37.67.

Vornado Realty Trust Trading Down 4.8%

Shares of NYSE:VNO traded down $1.45 during trading on Wednesday, reaching $28.80. 1,183,338 shares of the company were exchanged, compared to its average volume of 1,623,546. Vornado Realty Trust has a 12-month low of $28.95 and a 12-month high of $43.37. The business’s fifty day simple moving average is $33.16 and its 200-day simple moving average is $36.51. The firm has a market capitalization of $5.49 billion, a PE ratio of 6.88, a P/E/G ratio of 5.52 and a beta of 1.52. The company has a debt-to-equity ratio of 1.44, a current ratio of 5.25 and a quick ratio of 5.58.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings results on Monday, February 9th. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate 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 business had revenue of $453.71 million during the quarter, compared to the consensus estimate of $440.23 million. During the same quarter in the prior year, the firm posted $0.61 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current year.

Vornado Realty Trust Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, December 29th. Investors of record on Thursday, December 18th were issued a dividend of $0.74 per share. This represents a dividend yield of 220.0%. The ex-dividend date of this dividend was Thursday, December 18th. Vornado Realty Trust’s dividend payout ratio (DPR) is currently 17.66%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Danske Bank A S purchased a new stake in shares of Vornado Realty Trust in the third quarter worth approximately $28,000. Advisory Services Network LLC purchased a new stake in Vornado Realty Trust in the third quarter worth about $33,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Vornado Realty Trust by 512.9% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 718 shares in the last quarter. Westside Investment Management Inc. increased its position 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 worth $37,000 after purchasing an additional 443 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Vornado Realty Trust during the 3rd quarter worth approximately $39,000. Hedge funds and other 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.