Vornado Realty Trust (NYSE:VNO) Price Target Raised to $34.00 at Barclays

Vornado Realty Trust (NYSE:VNO) had its target price upped by investment analysts at Barclays from $29.00 to $34.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential downside of 14.44% from the company’s current price.

Several other brokerages also recently weighed in on VNO. Mizuho boosted their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday. LADENBURG THALM/SH SH raised their price target on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Truist Financial lifted their price target on shares of Vornado Realty Trust from $28.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Citigroup boosted their price objective on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $37.50.

Vornado Realty Trust Stock Performance

Shares of NYSE VNO remained flat at $39.74 during trading on Tuesday. The stock had a trading volume of 88,643 shares, compared to its average volume of 1,908,361. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $43.37. The stock has a market capitalization of $7.48 billion, a PE ratio of 10.97, a PEG ratio of 2.03 and a beta of 1.53. The business’s fifty day simple moving average is $36.40 and its 200-day simple moving average is $31.90. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 1.54.

Vornado Realty Trust (NYSE:VNO) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The company had revenue of $459.11 million during the quarter, compared to analysts’ expectations 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 was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, sell-side analysts predict that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust declared that its board has approved a stock buyback plan on Wednesday, April 29th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, Director Michael D. Fascitelli sold 133,350 shares of the stock in a transaction dated 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 directly owned 475,161 shares in the company, valued at approximately $17,400,395.82. This represents a 21.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the purchase, the director owned 13,000 shares in the company, valued at $220,220. The trade was a 44.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

Several hedge funds have recently modified their holdings of VNO. Norges Bank acquired a new stake in Vornado Realty Trust during the 4th quarter worth approximately $579,709,000. Resolution Capital Ltd lifted its position in Vornado Realty Trust by 34.1% during the first 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Vornado Realty Trust by 21.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock valued at $301,300,000 after buying an additional 1,598,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Vornado Realty Trust by 393,598.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust’s stock worth $34,983,000 after buying an additional 1,050,908 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Vornado Realty Trust by 129.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock worth $36,344,000 after buying an additional 788,067 shares during the period. 90.02% of the stock is owned by institutional investors and hedge funds.

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.