Vornado Realty Trust (NYSE:VNO) Price Target Raised to $37.00

Vornado Realty Trust (NYSE:VNO) had its price objective boosted by JPMorgan Chase & Co. from $33.00 to $37.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.84% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Vornado Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Truist Financial reduced their price objective on shares of Vornado Realty Trust from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, March 31st. Citigroup boosted their price objective on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Barclays reduced their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. Finally, Scotiabank upped their price target on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, May 21st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $34.55.

Vornado Realty Trust Stock Up 2.1%

Shares of VNO traded up $0.68 during mid-day trading on Thursday, hitting $33.99. The company’s stock had a trading volume of 1,956,750 shares, compared to its average volume of 1,985,119. The company’s 50-day moving average is $28.72 and its 200-day moving average is $31.06. Vornado Realty Trust has a 52-week low of $24.57 and a 52-week high of $43.37. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 1.65 and a beta of 1.53. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54.

Vornado Realty Trust (NYSE:VNO) last posted 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). The firm had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.72 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. On average, equities research analysts forecast that Vornado Realty Trust will post 2.33 EPS for the current fiscal year.

Vornado Realty Trust declared that its Board of Directors has initiated a share buyback plan on Wednesday, April 29th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VNO. Danske Bank A S purchased a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at $28,000. 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 acquiring an additional 718 shares during the last quarter. Essential Partners LLC boosted its holdings in shares of Vornado Realty Trust by 186.9% in the 1st quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 770 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at $33,000. Finally, Employees Retirement System of Texas purchased a new stake in shares of Vornado Realty Trust in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

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.