Vornado Realty Trust (NYSE:VNO) PT Raised to $38.00 at Scotiabank

Vornado Realty Trust (NYSE:VNO) had its target price boosted by analysts at Scotiabank from $33.00 to $38.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential downside of 11.98% from the stock’s current price.

VNO has been the topic of several other reports. Barclays raised their price objective on Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Truist Financial lifted their price objective on Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. Evercore ISI increased their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Finally, BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $29.00 to $40.00 in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.16.

Vornado Realty Trust Stock Down 1.4 %

Shares of VNO opened at $43.17 on Friday. The firm has a fifty day moving average price of $37.74 and a 200-day moving average price of $30.51. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $8.22 billion, a P/E ratio of 479.67 and a beta of 1.65. Vornado Realty Trust has a 12-month low of $18.36 and a 12-month high of $44.00.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.37). The company had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. Vornado Realty Trust’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. Equities research analysts expect that Vornado Realty Trust will post 2.17 earnings per share for the current year.

Institutional Trading of Vornado Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in VNO. Price T Rowe Associates Inc. MD raised its stake in Vornado Realty Trust by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock valued at $178,264,000 after buying an additional 44,147 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in Vornado Realty Trust by 45.0% in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Vornado Realty Trust by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock worth $40,568,000 after purchasing an additional 24,322 shares in the last quarter. Castle Hook Partners LP grew its position in Vornado Realty Trust by 66.9% during the 1st quarter. Castle Hook Partners LP now owns 926,962 shares of the real estate investment trust’s stock worth $26,669,000 after purchasing an additional 371,517 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Vornado Realty Trust by 7.9% during the 1st quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust’s stock valued at $26,385,000 after purchasing an additional 67,100 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Vornado Realty Trust

Vornado Realty Trust is a fully – integrated equity real estate investment trust.