Vornado Realty Trust (NYSE:VNO) Sets New 52-Week High at $38.09

Vornado Realty Trust (NYSE:VNO)’s share price hit a new 52-week high on Wednesday . The company traded as high as $38.09 and last traded at $38.00, with a volume of 51757 shares. The stock had previously closed at $37.60.

Analyst Ratings Changes

A number of brokerages have recently weighed in on VNO. Compass Point boosted their price objective on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their target price for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. The Goldman Sachs Group increased their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a research note on Thursday, September 12th. Finally, Bank of America increased their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.43.

Vornado Realty Trust Stock Up 1.3 %

The company has a market cap of $7.26 billion, a P/E ratio of 253.62 and a beta of 1.65. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The firm’s 50 day moving average price is $31.72 and its 200-day moving average price is $27.91.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.37). The business had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. As a group, equities research analysts expect that Vornado Realty Trust will post 2.17 EPS for the current year.

Insider Transactions at Vornado Realty Trust

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.14% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. increased its holdings in Vornado Realty Trust by 3.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 386 shares during the last quarter. First National Bank Sioux Falls increased its holdings in shares of Vornado Realty Trust by 3.3% in the first quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 496 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Vornado Realty Trust by 0.3% in the first quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust’s stock valued at $5,776,000 after purchasing an additional 527 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Vornado Realty Trust by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock valued at $2,921,000 after purchasing an additional 531 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Vornado Realty Trust by 5.8% in the first quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock valued at $289,000 after purchasing an additional 553 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.