Vornado Realty Trust (NYSE:VNO) Given New $39.00 Price Target at Evercore ISI

Vornado Realty Trust (NYSE:VNO) had its price objective upped by equities researchers at Evercore ISI from $38.00 to $39.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential upside of 14.91% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Barclays raised their price target on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the company an “underweight” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group increased their target price on shares of Vornado Realty Trust from $19.00 to $21.50 and gave the company a “sell” rating in a report on Tuesday. BMO Capital Markets raised Vornado Realty Trust from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Bank of America upped their target price on Vornado Realty Trust from $26.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Finally, StockNews.com raised Vornado Realty Trust to a “sell” rating in a research note on Saturday, July 20th. Four 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’s stock. According to data from MarketBeat, Vornado Realty Trust currently has an average rating of “Hold” and a consensus target price of $29.32.

Vornado Realty Trust Trading Down 0.8 %

Shares of NYSE VNO traded down $0.26 during trading hours on Wednesday, reaching $33.94. The stock had a trading volume of 461,914 shares, compared to its average volume of 2,087,875. The business’s fifty day moving average price is $29.10 and its two-hundred day moving average price is $26.96. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 226.88 and a beta of 1.64. Vornado Realty Trust has a 52-week low of $18.36 and a 52-week high of $35.26. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78.

Vornado Realty Trust (NYSE:VNO) last posted its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Analysts expect that Vornado Realty Trust will post 2.13 EPS for the current fiscal year.

Insider Activity

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $85,528.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.14% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vornado Realty Trust during the second quarter worth $48,000. Fidelis Capital Partners LLC bought a new position in shares of Vornado Realty Trust in the first quarter valued at approximately $55,000. Principal Securities Inc. bought a new position in Vornado Realty Trust in the 4th quarter worth $58,000. EverSource Wealth Advisors LLC increased its stake in shares of Vornado Realty Trust by 61.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 1,018 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Vornado Realty Trust by 98.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 2,465 shares during the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

About Vornado Realty Trust

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.