Vornado Realty Trust (NYSE:VNO) Shares Gap Down – Here’s What Happened

Vornado Realty Trust (NYSE:VNO)’s share price gapped down before the market opened on Monday . The stock had previously closed at $40.61, but opened at $39.60. Vornado Realty Trust shares last traded at $39.75, with a volume of 138,010 shares.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VNO. Piper Sandler reissued a “neutral” rating and issued a $44.00 price target (up previously from $30.00) on shares of Vornado Realty Trust in a research report on Friday, October 18th. The Goldman Sachs Group lifted their target price on Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th. BMO Capital Markets raised Vornado Realty Trust from a “market perform” rating to an “outperform” rating and increased their price target for the company from $29.00 to $40.00 in a research report on Thursday, August 8th. Evercore ISI boosted their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Scotiabank raised their target price on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $34.07.

Vornado Realty Trust Stock Performance

The firm’s fifty day moving average price is $40.70 and its 200-day moving average price is $32.46. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 1.93. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of -141.52 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). Vornado Realty Trust had a return on equity of 1.72% and a net margin of 0.46%. The firm had revenue of $443.26 million for the quarter, compared to analyst estimates of $445.07 million. During the same quarter last year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. 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

Several large investors have recently modified their holdings of VNO. National Bank of Canada FI boosted its stake in Vornado Realty Trust by 7.9% during the 1st quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust’s stock worth $26,385,000 after purchasing an additional 67,100 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Vornado Realty Trust by 2.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 328,093 shares of the real estate investment trust’s stock valued at $9,437,000 after buying an additional 8,545 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Vornado Realty Trust in the first quarter valued at about $1,237,000. Price T Rowe Associates Inc. MD increased its stake in shares of Vornado Realty Trust by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock worth $178,264,000 after acquiring an additional 44,147 shares during the period. Finally, Masters Capital Management LLC acquired a new stake in Vornado Realty Trust in the first quarter valued at about $6,042,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

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