Vornado Realty Trust (NYSE:VNO) Stock Gets Price Target Trim from Piper Sandler

Vornado Realty Trust (NYSE:VNO) had its price target cut by analysts at Piper Sandler from $44.00 to $37.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 9.40% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Mizuho upped their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Weiss Ratings cut Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 15th. Morgan Stanley downgraded Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a report on Wednesday, July 22nd. Finally, Truist Financial dropped their price target on shares of Vornado Realty Trust from $39.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, September 21st. 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 presently has a consensus rating of “Hold” and an average target price of $38.91.

Vornado Realty Trust Stock Up 0.6%

Shares of Vornado Realty Trust stock traded up $0.19 on Monday, reaching $33.82. 185,009 shares of the company were exchanged, compared to its average volume of 1,768,950. The stock’s 50 day moving average price is $36.51 and its 200-day moving average price is $34.71. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $41.60. The company has a market cap of $6.31 billion, a P/E ratio of 1,691.35, a price-to-earnings-growth ratio of 1.59 and a beta of 1.58.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a net margin of 3.71% and a return on equity of 1.37%. The firm had revenue of $462.24 million during the quarter, compared to analyst estimates of $454.46 million. During the same period last year, the business earned $0.56 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts forecast that Vornado Realty Trust will post 2.45 EPS for the current year.

Insider Activity

In related news, EVP Haim Chera sold 90,000 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the completion of the sale, the executive vice president directly owned 110,000 shares of the company’s stock, valued at $3,741,100. This represents a 45.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Vornado Realty Trust by 9.1% during the third quarter. GAMMA Investing LLC now owns 5,567 shares of the real estate investment trust’s stock worth $189,000 after acquiring an additional 463 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Vornado Realty Trust by 6.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,861 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 689 shares during the period. Sequoia Financial Advisors LLC raised its position in Vornado Realty Trust by 35.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 14,064 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 3,688 shares during the last quarter. Integrated Wealth Concepts LLC raised its position 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 valued at $1,198,000 after purchasing an additional 7,643 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in Vornado Realty Trust during the 2nd quarter worth $222,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company’s portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.