Vornado Realty Trust (NYSE:VNO) Stock Now Rated “Hold” by Wall Street Analysts

Vornado Realty Trust (NYSE:VNO) has received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $38.91.

Several research analysts recently issued reports on the company. Barclays increased their price objective on Vornado Realty Trust from $29.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Piper Sandler decreased their target price on Vornado Realty Trust from $44.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Weiss Ratings lowered Vornado Realty Trust from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Mizuho upped their target price on Vornado Realty Trust from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their price target on Vornado Realty Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 15th.

Insider Activity

In other news, EVP Haim Chera sold 90,000 shares of Vornado Realty Trust stock in a transaction on 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 directly owned 110,000 shares in the company, valued at approximately $3,741,100. This trade represents a 45.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On Vornado Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its holdings in shares of Vornado Realty Trust by 67.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 804 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 324 shares during the last quarter. Essential Partners LLC grew its stake in Vornado Realty Trust by 186.9% during the 1st quarter. Essential Partners LLC now owns 1,182 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 770 shares during the last quarter. Versant Capital Management Inc increased its position in Vornado Realty Trust by 106.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,750 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 901 shares in the last quarter. Fifth Third Bancorp increased its position in Vornado Realty Trust by 46.2% during the 1st quarter. Fifth Third Bancorp now owns 2,446 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 773 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Vornado Realty Trust during the 4th quarter valued at about $86,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Trading Down 0.7%

Shares of NYSE VNO opened at $32.87 on Thursday. The business’s 50 day moving average is $35.47 and its two-hundred day moving average is $35.13. The company has a debt-to-equity ratio of 1.56, a current ratio of 5.24 and a quick ratio of 5.24. Vornado Realty Trust has a 1-year low of $24.57 and a 1-year high of $41.60. The stock has a market capitalization of $6.14 billion, a P/E ratio of 1,644.27, a PEG ratio of 1.56 and a beta of 1.58.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly earnings data on Monday, August 3rd. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.49). Vornado Realty Trust had a return on equity of 1.37% and a net margin of 3.71%. The firm 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 firm earned $0.56 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Vornado Realty Trust will post 2.47 EPS for the current year.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a publicly traded real estate investment trust that owns, manages and develops commercial properties, with a primary focus on premier office and retail assets in New York City. The company’s portfolio includes office buildings, retail properties and mixed-use developments located in high-profile business and shopping districts.

Vornado is particularly active in Manhattan, where it has pursued large-scale development and redevelopment initiatives in the Penn District surrounding Pennsylvania Station.