Truist Financial Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $35.00

Vornado Realty Trust (NYSE:VNO) had its price target trimmed by Truist Financial from $39.00 to $35.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on VNO. JPMorgan Chase & Co. upped their target price on Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 15th. LADENBURG THALM/SH SH upped their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Piper Sandler lifted their target price on shares of Vornado Realty Trust from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. Mizuho boosted their target price 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. Finally, BMO Capital Markets upped their price target on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.55.

Vornado Realty Trust Trading Down 3.2%

Vornado Realty Trust stock opened at $34.17 on Monday. Vornado Realty Trust has a one year low of $24.57 and a one year high of $41.85. The company’s fifty day moving average price is $37.94 and its two-hundred day moving average price is $34.07. 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 company has a market capitalization of $6.38 billion, a price-to-earnings ratio of 1,709.20, a PEG ratio of 1.58 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.49). The company had revenue of $462.24 million for 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%.The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. On average, analysts forecast that Vornado Realty Trust will post 2.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Vornado Realty Trust in the fourth quarter valued at about $579,709,000. Franklin Resources Inc. increased its stake in Vornado Realty Trust by 1.6% during the fourth quarter. Franklin Resources Inc. now owns 12,504,170 shares of the real estate investment trust’s stock valued at $416,139,000 after acquiring an additional 195,111 shares during the period. Resolution Capital Ltd raised 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 acquiring an additional 1,895,846 shares in the last quarter. Geode Capital Management LLC raised its holdings in Vornado Realty Trust by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 3,354,542 shares of the real estate investment trust’s stock valued at $111,658,000 after acquiring an additional 77,754 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Vornado Realty Trust by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust’s stock valued at $65,340,000 after acquiring an additional 13,017 shares in the last quarter. Institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

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.