Vornado Realty Trust (NYSE:VNO) Given New $44.00 Price Target at Piper Sandler

Vornado Realty Trust (NYSE:VNO) had its target price boosted by equities research analysts at Piper Sandler from $42.00 to $44.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price target would indicate a potential upside of 9.13% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Vornado Realty Trust from $33.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Morgan Stanley downgraded shares of Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 price objective for the company. in a report on Wednesday, July 22nd. Mizuho raised their target price on shares of Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. BMO Capital Markets boosted their target price on Vornado Realty Trust from $33.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Scotiabank upped their price target on Vornado Realty Trust from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Vornado Realty Trust has a consensus rating of “Hold” and an average target price of $39.33.

Vornado Realty Trust Price Performance

VNO stock traded down $0.59 during midday trading on Wednesday, reaching $40.32. The stock had a trading volume of 212,480 shares, compared to its average volume of 1,927,610. The company’s fifty day simple moving average is $38.25 and its 200 day simple moving average is $32.36. 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 has a market cap of $7.58 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.53. Vornado Realty Trust has a 52-week low of $24.57 and a 52-week high of $43.37.

Vornado Realty Trust (NYSE:VNO) last released its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.36% and a net margin of 3.71%.The business had revenue of $462.24 million for the quarter, compared to analysts’ expectations of $454.46 million. During the same period in the previous year, the company earned $0.56 EPS. Vornado Realty Trust’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Vornado Realty Trust will post 2.34 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In other news, Director Russell B. Wight, Jr. purchased 4,000 shares of Vornado Realty Trust stock in a transaction dated Monday, June 8th. The shares were purchased at an average price of $16.94 per share, with a total value of $67,760.00. Following the transaction, the director owned 13,000 shares in the company, valued at $220,220. This represents a 44.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael D. Fascitelli sold 133,350 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $36.62, for a total value of $4,883,277.00. Following the sale, the director directly owned 475,161 shares of the company’s stock, valued at approximately $17,400,395.82. This trade represents a 21.91% decrease in their position. The SEC filing for this sale provides additional information. 9.00% of the stock is owned by company insiders.

Institutional Trading of Vornado Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in shares of Vornado Realty Trust in the 3rd quarter valued at $28,000. Advisory Services Network LLC acquired a new position in Vornado Realty Trust in the 3rd quarter valued at about $33,000. Farmers & Merchants Investments Inc. increased its stake 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 purchasing an additional 718 shares during the period. Employees Retirement System of Texas purchased a new stake in Vornado Realty Trust during the fourth quarter worth about $36,000. Finally, BOKF NA lifted its position in shares of 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 worth $46,000 after purchasing an additional 1,056 shares in the last quarter. Hedge funds and other 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.