Analysts Set Vornado Realty Trust (NYSE:VNO) Price Target at $34.07

Shares of Vornado Realty Trust (NYSE:VNO) have been given a consensus rating of “Reduce” by the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $34.07.

VNO has been the subject of several recent analyst reports. Bank of America raised their price objective on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, August 22nd. Truist Financial upped their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and raised their target price for the company from $29.00 to $40.00 in a research note on Thursday, August 8th. Scotiabank upped their price target on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price objective on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th.

Vornado Realty Trust Price Performance

VNO stock opened at $40.98 on Thursday. The company has a quick ratio of 4.97, a current ratio of 4.97 and a debt-to-equity ratio of 1.93. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -141.31 and a beta of 1.64. The company’s fifty day simple moving average is $40.84 and its 200 day simple moving average is $32.52. Vornado Realty Trust has a 12-month low of $21.16 and a 12-month high of $46.63.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The business had revenue of $443.26 million during the quarter, compared to analyst estimates of $445.07 million. During the same period in the prior year, the firm earned $0.66 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts expect that Vornado Realty Trust will post 2.15 earnings per share for the current year.

Institutional Investors Weigh In On Vornado Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake in shares of Vornado Realty Trust by 0.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 38,933 shares of the real estate investment trust’s stock worth $1,534,000 after buying an additional 272 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Vornado Realty Trust by 0.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,315 shares of the real estate investment trust’s stock worth $2,731,000 after acquiring an additional 299 shares during the period. US Bancorp DE boosted its position in Vornado Realty Trust by 1.8% in the third quarter. US Bancorp DE now owns 17,529 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 311 shares during the last quarter. Vert Asset Management LLC grew its stake in Vornado Realty Trust by 0.5% in the 3rd quarter. Vert Asset Management LLC now owns 68,282 shares of the real estate investment trust’s stock valued at $2,690,000 after purchasing an additional 324 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Vornado Realty Trust by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 386 shares during the last quarter. 90.02% of the stock is owned by institutional investors.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.