Vornado Realty Trust (NYSE:VNO – Free Report) had its target price lifted by Mizuho from $34.00 to $42.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust’s stock.
Other equities research analysts have also issued research reports about the company. Truist Financial increased their target price on Vornado Realty Trust from $28.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Piper Sandler reduced their price target on Vornado Realty Trust from $36.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Scotiabank upped their price target on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a report on Thursday, June 18th. Citigroup increased their price objective on shares of Vornado Realty Trust from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, LADENBURG THALM/SH SH lifted their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.17.
Read Our Latest Analysis on VNO
Vornado Realty Trust Stock Up 1.2%
Vornado Realty Trust (NYSE:VNO – Get 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 analysts’ consensus estimates of ($0.05) by ($0.07). The company had revenue of $459.11 million for the quarter, compared to analyst estimates of $431.71 million. Vornado Realty Trust had a return on equity of 15.82% and a net margin of 43.99%.The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. Research 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 initiated a share buyback program on Wednesday, April 29th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Insider Activity
In other Vornado Realty Trust news, Director Russell B. Wight, Jr. purchased 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average price of $16.94 per share, for a total transaction of $67,760.00. Following the completion of the purchase, the director owned 13,000 shares in the company, valued at $220,220. The trade was a 44.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael D. Fascitelli sold 133,350 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $36.62, for a total value of $4,883,277.00. Following the completion of the transaction, the director directly owned 475,161 shares of the company’s stock, valued at $17,400,395.82. This represents a 21.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 9.00% of the company’s stock.
Hedge Funds Weigh In On Vornado Realty Trust
Several institutional investors and hedge funds have recently made changes to their positions in the business. Whitener Capital Management Inc. purchased a new position in shares of Vornado Realty Trust during the 2nd quarter valued at approximately $201,000. Yoffe Investment Management LLC bought a new stake in shares of Vornado Realty Trust in the second quarter worth $212,000. Handelsbanken Fonder AB raised its holdings in Vornado Realty Trust by 24.8% in the second quarter. Handelsbanken Fonder AB now owns 55,900 shares of the real estate investment trust’s stock valued at $2,197,000 after acquiring an additional 11,100 shares in the last quarter. Versant Capital Management Inc raised its holdings in Vornado Realty Trust by 106.1% in the second quarter. Versant Capital Management Inc now owns 1,750 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 901 shares in the last quarter. Finally, Eastern Bank raised its holdings in Vornado Realty Trust by 1,404.0% in the second quarter. Eastern Bank now owns 3,008 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 2,808 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other 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.
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