Vornado Realty Trust (NYSE:VNO) Price Target Lowered to $39.00 at Scotiabank

Vornado Realty Trust (NYSE:VNO) had its target price lowered by analysts at Scotiabank from $41.00 to $39.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 12.20% from the company’s current price.

Several other brokerages also recently commented on VNO. Truist Financial upped their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a research report on Friday, June 26th. UBS Group downgraded shares of Vornado Realty Trust to an “underweight” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Vornado Realty Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays raised their price objective on Vornado Realty Trust from $29.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Finally, Piper Sandler upped their price target on shares of Vornado Realty Trust from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $39.91.

Vornado Realty Trust Trading Down 0.2%

Shares of VNO stock traded down $0.06 during trading hours on Thursday, reaching $34.76. 227,116 shares of the stock were exchanged, compared to its average volume of 1,800,324. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.56. Vornado Realty Trust has a 12-month low of $24.57 and a 12-month high of $42.26. The firm has a market capitalization of $6.49 billion, a price-to-earnings ratio of 1,737.37, a price-to-earnings-growth ratio of 1.59 and a beta of 1.53. The company’s 50-day moving average price is $38.32 and its 200-day moving average price is $33.82.

Vornado Realty Trust (NYSE:VNO) last announced its 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 business had revenue of $462.24 million for the quarter, compared to analysts’ expectations of $454.46 million. Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities analysts anticipate that Vornado Realty Trust will post 2.36 earnings per share for the current year.

Institutional Trading of Vornado Realty Trust

Several large investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its stake in shares of Vornado Realty Trust by 35.5% in the second quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 3,688 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in Vornado Realty Trust by 33.5% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 30,485 shares of the real estate investment trust’s stock worth $1,198,000 after buying an additional 7,643 shares during the period. NewEdge Advisors LLC acquired a new position in Vornado Realty Trust in the 2nd quarter worth approximately $222,000. Squarepoint Ops LLC raised its position in Vornado Realty Trust by 65.9% during the 2nd quarter. Squarepoint Ops LLC now owns 133,928 shares of the real estate investment trust’s stock worth $5,263,000 after buying an additional 53,208 shares during the last quarter. Finally, Allworth Financial LP raised its position in Vornado Realty Trust by 272.7% during the 2nd quarter. Allworth Financial LP now owns 6,478 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 4,740 shares during 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 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.