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

Vornado Realty Trust (NYSE:VNO) had its target price dropped by stock analysts at Scotiabank from $38.00 to $36.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential upside of 7.20% from the company’s current price.

Other research analysts have also issued reports about the stock. LADENBURG THALM/SH SH started coverage on shares of Vornado Realty Trust in a report on Monday, October 13th. They issued a “buy” rating and a $48.00 target price for the company. Evercore ISI reduced their price target on Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Truist Financial lowered their target price on Vornado Realty Trust from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Mizuho reduced their price objective on shares of Vornado Realty Trust from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, December 12th. Finally, JPMorgan Chase & Co. upgraded shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price target for the company in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust has a consensus rating of “Hold” and a consensus price target of $38.31.

Vornado Realty Trust Price Performance

Shares of NYSE VNO traded down $0.16 during midday trading on Wednesday, hitting $33.58. 425,881 shares of the company’s stock were exchanged, compared to its average volume of 1,059,711. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 5.90 and a beta of 1.49. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 1.42. Vornado Realty Trust has a 12-month low of $29.68 and a 12-month high of $45.37. The business’s fifty day moving average price is $34.65 and its two-hundred day moving average price is $37.48.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. Vornado Realty Trust had a return on equity of 19.48% and a net margin of 49.91%.The firm had revenue of $453.70 million for the quarter, compared to analysts’ expectations of $435.19 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Vornado Realty Trust in the second quarter worth about $665,094,000. JPMorgan Chase & Co. grew its stake in Vornado Realty Trust by 88.1% during the second quarter. JPMorgan Chase & Co. now owns 5,004,461 shares of the real estate investment trust’s stock valued at $191,371,000 after acquiring an additional 2,344,037 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Vornado Realty Trust by 27,787.3% during the third quarter. Pacer Advisors Inc. now owns 1,489,737 shares of the real estate investment trust’s stock valued at $60,379,000 after purchasing an additional 1,484,395 shares in the last quarter. Resolution Capital Ltd purchased a new stake in shares of Vornado Realty Trust during the 2nd quarter worth approximately $49,565,000. Finally, GRS Advisors LLC purchased a new stake in Vornado Realty Trust during the third quarter valued at $32,082,000. 90.02% of the stock is owned by institutional investors.

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.