Vornado Realty Trust (NYSE:VNO) Stock Has Average Price Target of $38.91

Vornado Realty Trust (NYSE:VNO) has earned an average recommendation of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $38.91.

VNO has been the topic of several research analyst reports. Mizuho increased their price target on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Scotiabank lowered their price objective on Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a report on Thursday, September 17th. Barclays upped their price objective on Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Morgan Stanley cut Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective on the stock. in a research note on Wednesday, July 22nd. Finally, Weiss Ratings downgraded Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th.

Insider Buying and Selling at Vornado Realty Trust

In other news, EVP Haim Chera sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the completion of the sale, the executive vice president directly owned 110,000 shares in the company, valued at approximately $3,741,100. The trade was a 45.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several large investors have recently added to or reduced their stakes in VNO. Resolution Capital Ltd boosted its holdings in Vornado Realty Trust by 34.1% in the first quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after purchasing an additional 1,895,846 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Vornado Realty Trust by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust’s stock worth $65,340,000 after purchasing an additional 13,017 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Vornado Realty Trust by 0.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,497,296 shares of the real estate investment trust’s stock worth $49,830,000 after purchasing an additional 7,559 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of 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 period. Finally, Bank of America Corp DE raised its holdings 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 worth $32,916,000 after purchasing an additional 68,267 shares during the period. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Price Performance

Shares of VNO stock opened at $32.86 on Thursday. The firm has a market cap of $6.14 billion, a P/E ratio of 1,643.87, a P/E/G ratio of 1.55 and a beta of 1.58. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $41.60. The firm has a fifty day moving average of $35.84 and a two-hundred day moving average of $34.91.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.49). The company had revenue of $462.24 million during the quarter, compared to the consensus estimate of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%. Vornado Realty Trust’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. As a group, research analysts anticipate that Vornado Realty Trust will post 2.47 earnings per share for the current fiscal year.

Vornado Realty Trust Company Profile

Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company’s portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.