Vornado Realty Trust (NYSE:VNO) Price Target Raised to $38.00

Vornado Realty Trust (NYSE:VNO) had its target price upped by equities researchers at Scotiabank from $33.00 to $38.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 0.53% from the stock’s previous close.

VNO has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Vornado Realty Trust from $33.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 26th. Piper Sandler reduced their target price on shares of Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, April 1st. LADENBURG THALM/SH SH lifted their target price on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Morgan Stanley reduced their target price on shares of Vornado Realty Trust from $32.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, BMO Capital Markets lifted their target price on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vornado Realty Trust currently has an average rating of “Hold” and an average price target of $35.42.

Vornado Realty Trust Stock Performance

Shares of VNO traded up $1.34 during midday trading on Thursday, reaching $37.80. The stock had a trading volume of 403,981 shares, compared to its average volume of 1,965,982. The firm has a 50 day simple moving average of $31.85 and a 200-day simple moving average of $31.17. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The firm has a market cap of $7.11 billion, a PE ratio of 10.37, a P/E/G ratio of 1.91 and a beta of 1.56. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The firm had revenue of $459.11 million during the quarter, compared to the consensus estimate of $431.72 million. During the same period last year, the business earned $0.63 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.34 EPS for the current year.

Vornado Realty Trust announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 29th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. bought 4,000 shares of Vornado Realty Trust stock in a transaction that occurred on Monday, June 8th. The stock was acquired at an average price of $16.94 per share, with a total value of $67,760.00. Following the acquisition, the director owned 13,000 shares of the company’s stock, valued at approximately $220,220. This represents a 44.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.00% of the company’s stock.

Institutional Trading of Vornado Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of VNO. Norges Bank bought a new stake in shares of Vornado Realty Trust during the 4th quarter worth about $579,709,000. Resolution Capital Ltd raised its stake in Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after purchasing an additional 1,895,846 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Vornado Realty Trust by 21.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,053,407 shares of the real estate investment trust’s stock worth $301,300,000 after purchasing an additional 1,598,643 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Vornado Realty Trust by 393,598.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,051,175 shares of the real estate investment trust’s stock worth $34,983,000 after purchasing an additional 1,050,908 shares in the last quarter. Finally, GRS Advisors LLC acquired a new stake in Vornado Realty Trust in the 3rd quarter worth about $32,082,000. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a self‐administered real estate investment trust focused on the ownership, management and redevelopment of office and retail properties. As a fully integrated REIT, the company oversees leasing, property management, building operations and strategic capital improvements designed to enhance asset value and tenant experience. Vornado’s business model emphasizes long‐term cash flow generation through stable rental income and disciplined portfolio optimization.

The company’s core portfolio is concentrated in New York City, where it holds a diverse mix of office towers and street‐level retail assets in prominent submarkets such as Midtown and the Penn Plaza corridor.