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

Vornado Realty Trust (NYSE:VNO) had its price target upped by Citigroup from $34.00 to $40.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on VNO. Morgan Stanley lowered shares of Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 target price on the stock. in a report on Wednesday, July 22nd. Mizuho raised their price target on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. BMO Capital Markets boosted their price target on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Scotiabank upped their price target on shares of Vornado Realty Trust from $38.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Finally, Piper Sandler increased their price objective on 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 equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.83.

Vornado Realty Trust Stock Up 1.1%

VNO stock opened at $39.23 on Monday. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $7.33 billion, a PE ratio of 1,962.48, a PEG ratio of 1.95 and a beta of 1.53. Vornado Realty Trust has a twelve month low of $24.57 and a twelve month high of $43.37. The stock has a 50-day simple moving average of $38.90 and a two-hundred day simple moving average of $32.62.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%.The firm had revenue of $462.24 million during the quarter, compared to analysts’ expectations of $454.46 million. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its board has authorized a stock buyback program on Wednesday, April 29th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Vornado Realty Trust

In other Vornado Realty Trust news, Director Michael D. Fascitelli sold 133,350 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total value of $4,883,277.00. Following the completion of the transaction, the director owned 475,161 shares of the company’s stock, valued at $17,400,395.82. The trade was a 21.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Russell B. Wight, Jr. purchased 4,000 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the acquisition, the director directly owned 13,000 shares in the company, valued at approximately $220,220. The trade was a 44.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 9.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Vornado Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Whitener Capital Management Inc. purchased a new position in Vornado Realty Trust in the second quarter worth $201,000. Yoffe Investment Management LLC purchased a new stake in Vornado Realty Trust during the second quarter valued at about $212,000. Handelsbanken Fonder AB lifted its stake in 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 purchasing an additional 11,100 shares during the last quarter. Versant Capital Management Inc lifted its stake in 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 purchasing an additional 901 shares during the last quarter. Finally, Eastern Bank boosted its holdings in shares of Vornado Realty Trust by 1,404.0% in the 2nd 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. 90.02% of the stock is owned by institutional investors.

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.