Vornado Realty Trust (NYSE:VNO) Price Target Raised to $39.00

Vornado Realty Trust (NYSE:VNO) had its price objective boosted by analysts at JPMorgan Chase & Co. from $37.00 to $39.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 11.80% from the company’s previous close.

Several other analysts have also recently weighed in on VNO. LADENBURG THALM/SH SH lifted their price target on Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Truist Financial increased their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Mizuho lifted their target price on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. UBS Group cut shares of Vornado Realty Trust to an “underweight” rating in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets boosted their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $40.09.

Vornado Realty Trust Stock Performance

Vornado Realty Trust stock traded down $0.12 during trading hours on Tuesday, hitting $34.88. The company had a trading volume of 204,023 shares, compared to its average volume of 1,802,306. The firm has a 50-day moving average of $38.49 and a 200 day moving average of $33.74. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. The firm has a market cap of $6.51 billion, a PE ratio of 1,746.62, a PEG ratio of 1.63 and a beta of 1.53. Vornado Realty Trust has a one year low of $24.57 and a one year high of $42.50.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm had revenue of $462.24 million for the quarter, compared to the consensus estimate of $454.46 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts expect that Vornado Realty Trust will post 2.36 earnings per share for the current year.

Insider Transactions at Vornado Realty Trust

In other Vornado Realty Trust news, Director Michael Fascitelli sold 133,350 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the transaction, the director owned 475,161 shares in the company, valued at $17,400,395.82. This trade represents a 21.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.00% of the stock is owned by corporate insiders.

Institutional Trading of Vornado Realty Trust

Institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Vornado Realty Trust during the fourth quarter worth about $579,709,000. California State Teachers Retirement System increased its holdings in Vornado Realty Trust by 3,652.4% in the 2nd quarter. California State Teachers Retirement System now owns 7,251,243 shares of the real estate investment trust’s stock valued at $284,974,000 after buying an additional 7,057,999 shares during the period. Resolution Capital Ltd increased its holdings in Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock valued at $193,885,000 after buying an additional 1,895,846 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Vornado Realty Trust by 129.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock valued at $36,344,000 after buying an additional 788,067 shares in the last quarter. Finally, Adelante Capital Management LLC acquired a new position in shares of Vornado Realty Trust in the 2nd quarter valued at approximately $27,030,000. 90.02% of the stock is currently owned by institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops office, retail and mixed-use properties. The company’s portfolio is concentrated in New York City, particularly in Manhattan, where it operates prominent office buildings and retail destinations in major commercial districts.

Vornado’s activities include leasing office space to businesses, operating retail properties, managing building services and pursuing redevelopment opportunities.