Vornado Realty Trust (NYSE:VNO) Price Target Raised to $42.00

Vornado Realty Trust (NYSE:VNO) had its price objective hoisted by equities research analysts at Piper Sandler from $28.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective suggests a potential upside of 5.79% from the company’s previous close.

VNO has been the topic of a number of other research reports. Scotiabank increased their price objective on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 18th. LADENBURG THALM/SH SH upped their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Truist Financial lifted their target price on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a report on Friday, June 26th. BMO Capital Markets increased their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Finally, Barclays lifted their price target on Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.67.

Vornado Realty Trust Stock Performance

Shares of NYSE VNO traded down $0.04 during mid-day trading on Tuesday, hitting $39.70. The stock had a trading volume of 505,098 shares, compared to its average volume of 1,911,807. The company has a 50 day moving average of $36.40 and a two-hundred day moving average of $31.90. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. The firm has a market cap of $7.47 billion, a PE ratio of 10.91, a PEG ratio of 2.03 and a beta of 1.53. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The firm had revenue of $459.11 million for the quarter, compared to analyst estimates of $431.71 million. During the same period last year, the firm earned $0.63 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its board has authorized a share repurchase program on Wednesday, April 29th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Vornado Realty Trust

In other news, Director Michael D. Fascitelli sold 133,350 shares of Vornado Realty Trust stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the sale, the director owned 475,161 shares of the company’s stock, valued at approximately $17,400,395.82. The trade was a 21.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of the stock in a transaction dated Monday, June 8th. The shares were acquired at an average price of $16.94 per share, with a total value of $67,760.00. Following the completion of the acquisition, the director owned 13,000 shares in the company, valued at approximately $220,220. This trade represents a 44.44% increase in their position. The disclosure for this purchase is available in the SEC filing. 9.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Vornado Realty Trust

Institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System purchased a new position in shares of Vornado Realty Trust during the first quarter worth about $1,206,000. Pacific Heights Asset Management LLC lifted its position in Vornado Realty Trust by 75.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the real estate investment trust’s stock worth $11,648,000 after acquiring an additional 150,000 shares during the period. Legal & General Group Plc lifted its position in Vornado Realty Trust by 9.1% during the 4th quarter. Legal & General Group Plc now owns 1,789,601 shares of the real estate investment trust’s stock worth $59,558,000 after acquiring an additional 149,598 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Vornado Realty Trust by 24,536.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 62,824 shares of the real estate investment trust’s stock valued at $2,091,000 after purchasing an additional 62,569 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new position in shares of Vornado Realty Trust in the 1st quarter valued at approximately $2,102,000. Institutional investors and hedge funds 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.