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

Vornado Realty Trust (NYSE:VNO) has been given an average rating of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $38.91.

A number of equities research analysts have recently issued reports on the stock. UBS Group downgraded shares of Vornado Realty Trust to an “underweight” rating in a report on Wednesday, July 22nd. Mizuho boosted their price objective on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, July 21st. Morgan Stanley lowered shares of Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 target price on the stock. in a report on Wednesday, July 22nd. Barclays increased their target price on shares of Vornado Realty Trust from $29.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Citigroup raised their price target on shares of Vornado Realty Trust from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, August 10th.

Insider Activity

In related news, EVP Haim Chera sold 90,000 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the sale, the executive vice president owned 110,000 shares in the company, valued at approximately $3,741,100. This trade represents a 45.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Essential Partners LLC raised its holdings in shares of Vornado Realty Trust by 186.9% in the 1st quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 770 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Vornado Realty Trust by 67.5% during the second quarter. Parkside Financial Bank & Trust now owns 804 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 324 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Vornado Realty Trust during the third quarter worth about $42,000. Fifth Third Bancorp grew its stake in Vornado Realty Trust by 46.2% in the 1st quarter. Fifth Third Bancorp now owns 2,446 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 773 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Vornado Realty Trust by 106.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,750 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 901 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock opened at $35.22 on Monday. Vornado Realty Trust has a one year low of $24.57 and a one year high of $41.60. The business has a fifty day moving average price of $34.51 and a 200-day moving average price of $33.49. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.44 and a quick ratio of 4.44. The firm has a market capitalization of $6.59 billion, a P/E ratio of 14.88, a PEG ratio of 1.67 and a beta of 1.62.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, November 2nd. The real estate investment trust reported ($0.25) EPS for the quarter, missing the consensus estimate of $0.64 by ($0.89). The company had revenue of $467.66 million during the quarter, compared to the consensus estimate of $477.39 million. Vornado Realty Trust had a return on equity of 0.19% and a net margin of 0.50%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. As a group, equities research analysts forecast that Vornado Realty Trust will post 2.47 EPS for the current year.

About Vornado Realty Trust

Vornado Realty Trust is a real estate investment trust focused primarily on owning, managing and redeveloping commercial properties. Its portfolio is concentrated in New York City, particularly Manhattan, and includes office buildings and retail properties. The company has also held properties in other major U.S. markets, including Washington, D.C., and San Francisco. Vornado’s activities include leasing space to businesses and retailers, operating its properties, and pursuing redevelopment projects to update and reposition its real estate.