Vornado Realty Trust (NYSE:VNO) Receives $34.07 Consensus Target Price from Analysts

Posted by Defense World Staff on Nov 17th, 2024

Vornado Realty Trust (NYSE:VNO – Get Free Report) has received an average rating of “Reduce” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $34.07.

Several brokerages recently commented on VNO. Scotiabank lifted their target price on shares of Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Piper Sandler reissued a “neutral” rating and issued a $44.00 target price (up from $30.00) on shares of Vornado Realty Trust in a report on Friday, October 18th. StockNews.com upgraded Vornado Realty Trust to a “sell” rating in a research note on Tuesday, November 12th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $29.00 to $40.00 in a research report on Thursday, August 8th. Finally, Evercore ISI upped their target price on Vornado Realty Trust from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th.

Get Our Latest Stock Analysis on VNO

Institutional Investors Weigh In On Vornado Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of Vornado Realty Trust by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock worth $178,264,000 after purchasing an additional 44,147 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Vornado Realty Trust by 1.3% in the third quarter. Geode Capital Management LLC now owns 3,106,295 shares of the real estate investment trust’s stock valued at $122,417,000 after acquiring an additional 39,147 shares in the last quarter. Principal Financial Group Inc. grew its stake in Vornado Realty Trust by 428.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock valued at $111,146,000 after purchasing an additional 2,286,997 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Vornado Realty Trust by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,801,260 shares of the real estate investment trust’s stock worth $110,370,000 after buying an additional 149,017 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Vornado Realty Trust by 45.0% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after purchasing an additional 612,765 shares during the last quarter. Institutional investors own 90.02% of the company’s stock.

Vornado Realty Trust Stock Performance

VNO opened at $40.61 on Thursday. The firm has a market capitalization of $7.74 billion, a PE ratio of -140.03 and a beta of 1.64. The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.97 and a current ratio of 4.97. Vornado Realty Trust has a 52-week low of $21.16 and a 52-week high of $46.63. The business’s 50-day simple moving average is $40.41 and its 200 day simple moving average is $32.21.

Vornado Realty Trust (NYSE:VNO – Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.61). The firm had revenue of $443.26 million during the quarter, compared to analyst estimates of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.72%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, sell-side analysts expect that Vornado Realty Trust will post 2.15 earnings per share for the current fiscal year.