Vornado Realty Trust (NYSE:VNO) Stock Has Average Target Price of $38.91

Shares of Vornado Realty Trust (NYSE:VNO) have been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.91.

A number of brokerages recently commented on VNO. JPMorgan Chase & Co. lifted their price target on Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, September 15th. Barclays upped their price objective on Vornado Realty Trust from $29.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. Mizuho raised their target price on Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Piper Sandler decreased their target price on Vornado Realty Trust from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Finally, Truist Financial lowered their target price on 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.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock opened at $32.19 on Thursday. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $41.60. The company’s 50 day moving average price is $35.71 and its two-hundred day moving average price is $35.03. 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 stock has a market cap of $6.01 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.55 and a beta of 1.58.

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 for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). The business had revenue of $462.24 million during the quarter, compared to analysts’ expectations of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%. Vornado Realty Trust’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS. On average, equities analysts predict that Vornado Realty Trust will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Haim Chera sold 90,000 shares of the stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $34.01, for a total transaction of $3,060,900.00. Following the completion of the transaction, the executive vice president owned 110,000 shares in the company, valued at approximately $3,741,100. This represents a 45.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.00% of the company’s stock.

Institutional Trading of Vornado Realty Trust

Hedge funds have recently added to or reduced their stakes in the stock. SteelPeak Wealth LLC purchased a new position in Vornado Realty Trust in the third quarter valued at about $463,000. Burns Matteson Capital Management LLC purchased a new stake in shares of Vornado Realty Trust during the 3rd quarter worth approximately $506,000. Curated Wealth Partners LLC purchased a new stake in shares of Vornado Realty Trust during the 3rd quarter worth approximately $215,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Vornado Realty Trust during the 3rd quarter worth approximately $499,000. Finally, Krilogy Financial LLC increased its stake in shares of Vornado Realty Trust by 65.7% during the 3rd quarter. Krilogy Financial LLC now owns 9,424 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 3,736 shares during the last quarter. 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 commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.

Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.