Vornado Realty Trust (NYSE:VNO) Receives New Coverage from Analysts at Barclays

Analysts at Barclays started coverage on shares of Vornado Realty Trust (NYSE:VNO) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set an “underweight” rating and a $22.00 price target on the real estate investment trust’s stock. Barclays‘s target price indicates a potential downside of 16.76% from the stock’s current price.

A number of other brokerages have also commented on VNO. BMO Capital Markets upgraded shares of Vornado Realty Trust from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $25.00 to $31.00 in a research note on Friday, December 15th. The Goldman Sachs Group lowered their price objective on shares of Vornado Realty Trust from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, February 22nd. Piper Sandler raised their price target on Vornado Realty Trust from $16.00 to $25.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 20th. Evercore ISI reduced their price objective on Vornado Realty Trust from $28.00 to $26.00 and set an “underperform” rating for the company in a research report on Thursday, February 15th. Finally, Truist Financial increased their target price on Vornado Realty Trust from $27.00 to $30.00 and gave the company a “hold” rating in a report on Wednesday, December 20th. Seven analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Vornado Realty Trust currently has an average rating of “Reduce” and an average target price of $23.50.

Vornado Realty Trust Trading Down 3.3 %

Shares of NYSE VNO opened at $26.43 on Wednesday. The firm’s 50 day moving average price is $26.42 and its 200-day moving average price is $25.06. Vornado Realty Trust has a 52-week low of $12.31 and a 52-week high of $32.21. The company has a debt-to-equity ratio of 1.82, a quick ratio of 4.95 and a current ratio of 4.95. The company has a market cap of $5.03 billion, a PE ratio of 114.91 and a beta of 1.56.

Vornado Realty Trust (NYSE:VNO) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.55). Vornado Realty Trust had a net margin of 5.82% and a return on equity of 3.22%. The business had revenue of $441.89 million during the quarter, compared to the consensus estimate of $453.82 million. During the same period last year, the company posted $0.72 earnings per share. The business’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in VNO. Contravisory Investment Management Inc. purchased a new position in Vornado Realty Trust during the 4th quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of Vornado Realty Trust by 8,355.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,522 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 1,504 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Vornado Realty Trust by 49.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,672 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 556 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Vornado Realty Trust in the 4th quarter worth approximately $40,000. Finally, Selway Asset Management purchased a new position in shares of Vornado Realty Trust in the 3rd quarter worth approximately $45,000. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado is a fully integrated real estate investment trust (REIT) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.