Piper Sandler Lowers Vornado Realty Trust (NYSE:VNO) Price Target to $36.00

Vornado Realty Trust (NYSE:VNO) had its target price cut by research analysts at Piper Sandler from $38.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective suggests a potential upside of 11.11% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Vornado Realty Trust from an “underweight” rating to a “neutral” rating and set a $41.00 price target for the company in a research note on Monday, November 24th. Truist Financial cut their price objective on shares of Vornado Realty Trust from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Tuesday, December 16th. Mizuho dropped their price target on Vornado Realty Trust from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Vornado Realty Trust in a report on Monday, December 29th. Finally, Evercore lowered their price objective on shares of Vornado Realty Trust from $43.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.15.

Vornado Realty Trust Stock Up 1.8%

VNO stock traded up $0.56 during mid-day trading on Wednesday, hitting $32.40. The stock had a trading volume of 1,640,277 shares, compared to its average volume of 1,511,256. The company has a fifty day moving average of $33.27 and a 200 day moving average of $36.55. Vornado Realty Trust has a 1-year low of $29.68 and a 1-year high of $43.37. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 5.37 and a beta of 1.52.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, February 9th. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Vornado Realty Trust had a net margin of 49.99% and a return on equity of 18.80%. The firm had revenue of $453.71 million during the quarter, compared to analyst estimates of $440.23 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts expect that Vornado Realty Trust will post 2.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several 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 Vornado Realty Trust in the 3rd quarter valued at $28,000. Advisory Services Network LLC purchased a new position in shares of Vornado Realty Trust in the third quarter worth about $33,000. Farmers & Merchants Investments Inc. raised its position in shares of Vornado Realty Trust by 512.9% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 858 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 718 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Vornado Realty Trust by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 886 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 443 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Vornado Realty Trust during the 3rd quarter worth about $39,000. 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.