Vornado Realty Trust (NYSE:VNO) Price Target Raised to $40.00

Vornado Realty Trust (NYSE:VNO) had its price target raised by Scotiabank from $38.00 to $40.00 in a research note published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

VNO has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Mizuho lifted their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday. LADENBURG THALM/SH SH upped their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Truist Financial increased their price target on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, June 26th. Finally, Weiss Ratings raised shares of Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.17.

Vornado Realty Trust Stock Up 1.2%

Vornado Realty Trust stock opened at $38.99 on Tuesday. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $43.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 6.14 and a current ratio of 6.14. The company has a market capitalization of $7.33 billion, a P/E ratio of 10.71, a PEG ratio of 1.94 and a beta of 1.53. The stock has a 50-day simple moving average of $36.89 and a 200-day simple moving average of $32.02.

Vornado Realty Trust (NYSE:VNO) last announced its earnings results on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The firm had revenue of $459.11 million during the quarter, compared to analyst estimates of $431.71 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. Equities research analysts expect that Vornado Realty Trust will post 2.34 earnings per share for the current year.

Vornado Realty Trust announced that its board has authorized a share repurchase program on Wednesday, April 29th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Michael D. Fascitelli sold 133,350 shares of the 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 completion of the sale, the director directly owned 475,161 shares of the company’s stock, valued at $17,400,395.82. This trade represents a 21.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average cost of $16.94 per share, with a total value of $67,760.00. Following the completion of the acquisition, the director owned 13,000 shares of the company’s stock, valued at approximately $220,220. This trade represents a 44.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

A number of large investors have recently bought and sold shares of VNO. Whitener Capital Management Inc. acquired a new stake in shares of Vornado Realty Trust in the 2nd quarter worth $201,000. Yoffe Investment Management LLC purchased a new stake in shares of Vornado Realty Trust in the second quarter valued at about $212,000. Handelsbanken Fonder AB increased its stake in shares of Vornado Realty Trust by 24.8% during the second quarter. Handelsbanken Fonder AB now owns 55,900 shares of the real estate investment trust’s stock worth $2,197,000 after acquiring an additional 11,100 shares during the period. Versant Capital Management Inc increased its stake in shares of Vornado Realty Trust by 106.1% during the second quarter. Versant Capital Management Inc now owns 1,750 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 901 shares during the period. Finally, Eastern Bank raised its holdings in Vornado Realty Trust by 1,404.0% during the second quarter. Eastern Bank now owns 3,008 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 2,808 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

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.