Vornado Realty Trust (NYSE:VNO) Price Target Lowered to $36.00 at Truist Financial

Vornado Realty Trust (NYSE:VNO) had its price objective lowered by stock analysts at Truist Financial from $40.00 to $36.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 4.69% from the company’s current price.

Several other research analysts have also recently commented on VNO. Evercore ISI decreased their target price on shares of Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Vornado Realty Trust in a research note on Wednesday, December 10th. Scotiabank cut their target price on shares of Vornado Realty Trust from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 13th. Piper Sandler reduced their target price on Vornado Realty Trust from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. upgraded Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price target on the stock in a report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $38.46.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock traded down $0.40 during mid-day trading on Tuesday, hitting $34.39. The company’s stock had a trading volume of 53,880 shares, compared to its average volume of 1,490,992. The stock has a market capitalization of $6.60 billion, a P/E ratio of 8.18, a P/E/G ratio of 6.23 and a beta of 1.47. Vornado Realty Trust has a twelve month low of $29.68 and a twelve month high of $45.37. The stock’s fifty day moving average price is $36.82 and its two-hundred day moving average price is $38.33. The company has a quick ratio of 5.58, a current ratio of 5.58 and a debt-to-equity ratio of 1.42.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The business had revenue of $453.70 million during the quarter, compared to analyst estimates of $435.19 million. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. Research analysts forecast that Vornado Realty Trust will post 2.31 earnings per share for the current year.

Institutional Trading of Vornado Realty Trust

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Vornado Realty Trust during the 2nd quarter worth $665,094,000. Franklin Resources Inc. lifted its position in Vornado Realty Trust by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 12,309,059 shares of the real estate investment trust’s stock worth $498,886,000 after acquiring an additional 274,313 shares during the last quarter. State Street Corp lifted its position in Vornado Realty Trust by 0.5% during the 2nd quarter. State Street Corp now owns 8,833,034 shares of the real estate investment trust’s stock worth $337,775,000 after acquiring an additional 39,767 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Vornado Realty Trust by 88.1% during the second quarter. JPMorgan Chase & Co. now owns 5,004,461 shares of the real estate investment trust’s stock valued at $191,371,000 after acquiring an additional 2,344,037 shares during the period. Finally, Invesco Ltd. grew its position in shares of Vornado Realty Trust by 0.9% in the second quarter. Invesco Ltd. now owns 4,239,539 shares of the real estate investment trust’s stock valued at $162,120,000 after purchasing an additional 36,355 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.