Vornado Realty Trust (NYSE:VNO) Receives $39.17 Average Target Price from Brokerages

Vornado Realty Trust (NYSE:VNO) has earned an average rating of “Hold” from the fourteen research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $39.1667.

A number of equities research analysts recently commented on the stock. Barclays increased their target price on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 21st. UBS Group downgraded Vornado Realty Trust to an “underweight” rating in a research report on Wednesday, July 22nd. Truist Financial increased their price objective on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a report on Friday, June 26th. Citigroup raised their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th.

Vornado Realty Trust News Roundup

Here are the key news stories impacting Vornado Realty Trust this week:

• Positive Sentiment: FFO beat estimates: Adjusted funds from operations (FFO) was $0.67 per diluted share, up from $0.56 a year earlier and ahead of the $0.57 analyst consensus. Reported FFO was $0.74 per share, compared with $0.60 last year. Revenue increased 4.7% to $462.2 million, exceeding estimates of $454.5 million. Vornado Surpasses Q2 FFO Estimates
• Positive Sentiment: Core property performance improved: Second-quarter same-store NOI at share rose 9.8% year over year, led by an 11.9% increase in New York and a 9.1% gain at THE MART. Leasing spreads were also favorable, with New York office, New York retail and THE MART rents increasing 7.7%, 12.1% and 14.0%, respectively, on a GAAP basis. Vornado Q2 and First-Half Results
• Positive Sentiment: Capital allocation and growth: Vornado repurchased 1.8 million shares for $53.5 million during the quarter and has $286.6 million remaining under its repurchase authorization. It also completed the purchase of a 49% interest in Park Avenue Plaza, valued at $1.1 billion, expanding its Manhattan portfolio.
• Neutral Sentiment: Reported earnings were distorted by comparisons: Net income attributable to common shareholders fell to $16.4 million, or $0.08 per share, from $743.8 million, or $3.70 per share, primarily because the prior-year quarter included an $803.2 million gain tied to the NYU 770 Broadway lease. Vornado Second-Quarter Financial Results
• Negative Sentiment: Mixed broader trends: Six-month adjusted FFO per share was $1.19, essentially unchanged from the prior year, while same-store cash NOI declined sharply at 555 California Street. Overall occupancy was 87.5% at quarter-end, leaving continued exposure to office-market weakness.

Vornado Realty Trust Stock Up 1.6%

NYSE:VNO opened at $40.03 on Friday. Vornado Realty Trust has a fifty-two week low of $24.57 and a fifty-two week high of $43.37. The stock has a market capitalization of $7.53 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.98 and a beta of 1.53. 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’s 50-day simple moving average is $38.09 and its 200-day simple moving average is $32.31.

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 analysts’ consensus estimates of ($0.05) by ($0.07). The firm had revenue of $459.11 million during the quarter, compared to analysts’ expectations of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, equities analysts anticipate that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

Vornado Realty Trust announced that its board has approved a share repurchase 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 an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. purchased 4,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $220,220. The trade was a 44.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael D. Fascitelli sold 133,350 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the transaction, the director owned 475,161 shares in the company, valued at approximately $17,400,395.82. This trade represents a 21.91% decrease in their position. The SEC filing for this sale provides additional information. 9.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Vornado Realty Trust during the fourth quarter worth $579,709,000. Franklin Resources Inc. raised its stake in Vornado Realty Trust by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 12,504,170 shares of the real estate investment trust’s stock worth $416,139,000 after acquiring an additional 195,111 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Vornado Realty Trust by 21.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock worth $301,300,000 after acquiring an additional 1,598,643 shares during the last quarter. State Street Corp lifted its position in Vornado Realty Trust by 0.5% during the 2nd quarter. State Street Corp now owns 8,833,034 shares of the real estate investment trust’s stock worth $337,775,000 after acquiring an additional 39,767 shares during the period. Finally, Resolution Capital Ltd lifted its position in Vornado Realty Trust by 34.1% during the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after acquiring an additional 1,895,846 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Vornado Realty Trust

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.