Vornado Realty Trust (NYSE:VNO) Price Target Raised to $34.00

by · The Markets Daily

Vornado Realty Trust (NYSE:VNO – Free Report) had its price objective increased by Barclays from $29.00 to $34.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an underweight rating on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets raised 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, June 15th. Weiss Ratings raised Vornado Realty Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 9th. LADENBURG THALM/SH SH increased their price objective on Vornado Realty Trust from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Citigroup raised their price objective on Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. lifted their target price on Vornado Realty Trust from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. Four equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.17.

Get Our Latest Research Report on VNO

Vornado Realty Trust Price Performance

Shares of Vornado Realty Trust stock opened at $38.99 on Tuesday. The company has a current ratio of 6.14, a quick ratio of 6.14 and a debt-to-equity ratio of 1.54. The company’s 50-day moving average price is $36.89 and its two-hundred day moving average price is $32.02. Vornado Realty Trust has a 52 week low of $24.57 and a 52 week high of $43.37. The stock has a market cap of $7.33 billion, a PE ratio of 10.71, a price-to-earnings-growth ratio of 1.94 and a beta of 1.53.

Vornado Realty Trust (NYSE:VNO – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.07). The business had revenue of $459.11 million for the quarter, compared to the consensus estimate of $431.71 million. Vornado Realty Trust had a net margin of 43.99% and a return on equity of 15.82%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, sell-side analysts anticipate that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

Vornado Realty Trust declared that its board has authorized a stock repurchase program on Wednesday, April 29th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. acquired 4,000 shares of Vornado Realty Trust stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average cost of $16.94 per share, with a total value of $67,760.00. Following the purchase, the director owned 13,000 shares in the company, valued at approximately $220,220. The trade was a 44.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Fascitelli sold 133,350 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the completion of the sale, the director directly owned 475,161 shares of the company’s stock, valued at $17,400,395.82. This trade represents a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.00% of the stock is owned by insiders.

Institutional Trading of Vornado Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of VNO. Danske Bank A S acquired a new stake in Vornado Realty Trust during the third quarter valued at $28,000. Advisory Services Network LLC acquired a new position in shares of Vornado Realty Trust during the 3rd quarter worth $33,000. Farmers & Merchants Investments Inc. increased its position in Vornado Realty Trust by 512.9% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 718 shares during the last quarter. Employees Retirement System of Texas acquired a new position in shares of Vornado Realty Trust during the 4th quarter valued at about $36,000. Finally, BOKF NA grew its holdings in Vornado Realty Trust by 1,257.1% during the third quarter. BOKF NA now owns 1,140 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,056 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

About Vornado Realty Trust

(Get Free Report)

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.

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