Vornado Realty Trust (NYSE:VNO) Receives $34.27 Consensus Target Price from Brokerages

Vornado Realty Trust (NYSE:VNOGet Free Report) has been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $35.4167.

Several analysts have commented on the stock. Mizuho lowered their price objective on shares of Vornado Realty Trust from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. JPMorgan Chase & Co. raised their price objective on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, May 28th. BMO Capital Markets raised their price objective on shares of Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley lowered their price objective 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, Citigroup raised their price objective on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, May 8th.

Read Our Latest Report on Vornado Realty Trust

Insider Activity

In related news, Director Russell B. Wight, Jr. acquired 4,000 shares of the stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the acquisition, the director directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael D. Fascitelli sold 133,350 shares of Vornado Realty Trust stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total transaction of $4,883,277.00. Following the transaction, the director owned 475,161 shares of the company’s stock, valued at $17,400,395.82. The trade was a 21.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 9.00% of the company’s stock.

Hedge Funds Weigh In On Vornado Realty Trust

Several large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of Vornado Realty Trust by 4.8% during the fourth quarter. Farther Finance Advisors LLC now owns 7,706 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 351 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Vornado Realty Trust by 2.0% during the fourth quarter. Signaturefd LLC now owns 19,976 shares of the real estate investment trust’s stock valued at $665,000 after purchasing an additional 389 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Vornado Realty Trust by 1.0% during the second quarter. Thrivent Financial for Lutherans now owns 39,320 shares of the real estate investment trust’s stock valued at $1,504,000 after purchasing an additional 391 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Vornado Realty Trust by 1.0% during the first quarter. State of Michigan Retirement System now owns 38,500 shares of the real estate investment trust’s stock valued at $1,001,000 after purchasing an additional 400 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Vornado Realty Trust by 15.5% during the third quarter. Brown Brothers Harriman & Co. now owns 2,976 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 400 shares during the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Stock Performance

Shares of VNO opened at $37.81 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.14 and a quick ratio of 6.14. Vornado Realty Trust has a one year low of $24.57 and a one year high of $43.37. The company has a 50-day simple moving average of $32.09 and a two-hundred day simple moving average of $31.18. The firm has a market capitalization of $7.11 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.84 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNOGet Free Report) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.07). Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The company had revenue of $459.11 million during the quarter, compared to analysts’ expectations of $431.72 million. During the same quarter last year, the business earned $0.63 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Vornado Realty Trust will post 2.34 EPS for the current fiscal year.

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

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.

Further Reading

Analyst Recommendations for Vornado Realty Trust (NYSE:VNO)

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