Piper Sandler Issues Pessimistic Forecast for Vornado Realty Trust (NYSE:VNO) Stock Price

Vornado Realty Trust (NYSE:VNO) had its price target dropped by equities research analysts at Piper Sandler from $44.00 to $37.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would suggest a potential upside of 9.35% from the company’s current price.

A number of other equities research analysts have also recently weighed in on VNO. Scotiabank reduced their price target on shares of Vornado Realty Trust from $41.00 to $39.00 and set a “sector perform” rating for the company in a research report on Thursday, September 17th. Mizuho raised their price objective on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Morgan Stanley cut Vornado Realty Trust from an “equal weight” rating to an “underweight” rating and set a $32.00 target price on the stock. in a research report on Wednesday, July 22nd. Weiss Ratings downgraded Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, August 4th. Finally, Citigroup upped their target price on Vornado Realty Trust from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Vornado Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $38.91.

Vornado Realty Trust Stock Performance

NYSE:VNO opened at $33.84 on Monday. Vornado Realty Trust has a 12 month low of $24.57 and a 12 month high of $41.60. The firm has a market capitalization of $6.32 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.58. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. The business’s fifty day moving average price is $36.24 and its 200 day moving average price is $34.82.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 3rd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.49). The business had revenue of $462.24 million for the quarter, compared to analyst estimates of $454.46 million. Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%. Vornado Realty Trust’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. On average, sell-side analysts anticipate that Vornado Realty Trust will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Haim Chera sold 90,000 shares of the business’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $34.01, for a total value of $3,060,900.00. Following the transaction, the executive vice president owned 110,000 shares in the company, valued at $3,741,100. The trade was a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Resolution Capital Ltd grew its holdings in shares of Vornado Realty Trust by 34.1% in the 1st quarter. Resolution Capital Ltd now owns 7,459,981 shares of the real estate investment trust’s stock worth $193,885,000 after acquiring an additional 1,895,846 shares during the period. Dimensional Fund Advisors LP increased its stake in Vornado Realty Trust by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,514,173 shares of the real estate investment trust’s stock valued at $65,340,000 after purchasing an additional 13,017 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Vornado Realty Trust by 0.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,497,296 shares of the real estate investment trust’s stock worth $49,830,000 after purchasing an additional 7,559 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Vornado Realty Trust by 129.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,398,378 shares of the real estate investment trust’s stock worth $36,344,000 after purchasing an additional 788,067 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Vornado Realty Trust by 5.7% during the first quarter. Bank of America Corp DE now owns 1,266,476 shares of the real estate investment trust’s stock worth $32,916,000 after purchasing an additional 68,267 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

Vornado Realty Trust (NYSE:VNO) is a real estate investment trust that owns, manages and develops commercial properties, with a primary focus on office and retail assets in the New York metropolitan area. The company’s portfolio includes office towers, retail properties and mixed-use developments in prominent locations throughout Manhattan.

Vornado is particularly active in the Penn District, a large-scale redevelopment area surrounding Pennsylvania Station in Midtown Manhattan. Its properties serve a range of tenants, including businesses, retailers, restaurants and other commercial occupants.