Truist Financial Cuts Vornado Realty Trust (NYSE:VNO) Price Target to $36.00

Vornado Realty Trust (NYSE:VNO) had its price objective decreased by Truist Financial from $40.00 to $36.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on VNO. Barclays lifted their price target on shares of Vornado Realty Trust from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c)” rating on shares of Vornado Realty Trust in a report on Wednesday, December 10th. Evercore ISI cut their target price on Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday. Piper Sandler decreased their price target on Vornado Realty Trust from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Bank of America dropped their price target on Vornado Realty Trust from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, August 25th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.46.

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $33.60 on Tuesday. Vornado Realty Trust has a 52 week low of $29.68 and a 52 week high of $45.37. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 1.42. The stock has a market cap of $6.45 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 6.03 and a beta of 1.47. The company’s 50-day moving average price is $36.46 and its two-hundred day moving average price is $38.25.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. Vornado Realty Trust had a net margin of 49.91% and a return on equity of 19.48%. The company had revenue of $453.70 million during the quarter, compared to analyst estimates of $435.19 million. During the same quarter last year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Vornado Realty Trust Dividend Announcement

The firm also recently declared an annual dividend, which will be paid on Monday, December 29th. Stockholders of record on Thursday, December 18th will be issued a dividend of $0.74 per share. The ex-dividend date is Thursday, December 18th. This represents a dividend yield of 220.0%. Vornado Realty Trust’s payout ratio is currently 17.62%.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds have recently bought and sold shares of the business. Townsquare Capital LLC grew its stake in Vornado Realty Trust by 37.7% during the 1st quarter. Townsquare Capital LLC now owns 6,886 shares of the real estate investment trust’s stock valued at $255,000 after acquiring an additional 1,886 shares in the last quarter. Aberdeen Group plc boosted its holdings in shares of Vornado Realty Trust by 17.7% during the first quarter. Aberdeen Group plc now owns 64,921 shares of the real estate investment trust’s stock worth $2,401,000 after purchasing an additional 9,768 shares during the period. Ethic Inc. grew its position in Vornado Realty Trust by 3.0% during the first quarter. Ethic Inc. now owns 39,433 shares of the real estate investment trust’s stock valued at $1,489,000 after purchasing an additional 1,130 shares in the last quarter. Northern Trust Corp increased its stake in Vornado Realty Trust by 1.8% in the 1st quarter. Northern Trust Corp now owns 2,790,326 shares of the real estate investment trust’s stock valued at $103,214,000 after buying an additional 49,197 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Vornado Realty Trust by 8.7% in the 1st quarter. Hsbc Holdings PLC now owns 167,209 shares of the real estate investment trust’s stock valued at $6,185,000 after buying an additional 13,335 shares during the period. 90.02% of the stock is owned by hedge funds and other institutional investors.

About Vornado Realty Trust

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