Vornado Realty Trust (NYSE:VNO) Reaches New 52-Week High After Analyst Upgrade

Shares of Vornado Realty Trust (NYSE:VNO - Get Free Report) reached a new 52-week high on Thursday after The Goldman Sachs Group raised their price target on the stock from $21.50 to $23.75. The Goldman Sachs Group currently has a sell rating on the stock. Vornado Realty Trust traded as high as $35.31 and last traded at $34.99, with a volume of 95759 shares changing hands. The stock had previously closed at $34.13.

Several other research firms have also recently weighed in on VNO. Truist Financial boosted their price objective on Vornado Realty Trust from $26.00 to $31.00 and gave the stock a "hold" rating in a research report on Tuesday, August 27th. Bank of America increased their price target on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, August 22nd. Barclays raised their price objective on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the stock an "underweight" rating in a report on Wednesday, August 14th. Piper Sandler upgraded shares of Vornado Realty Trust from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $22.00 to $30.00 in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of Vornado Realty Trust to a "sell" rating in a research note on Saturday, July 20th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Vornado Realty Trust currently has a consensus rating of "Hold" and an average target price of $30.43.

Insiders Place Their Bets

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm's stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $28.19, for a total value of $56,380.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at approximately $85,528.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.14% of the company's stock.

Institutional Trading of Vornado Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vornado Realty Trust during the 2nd quarter valued at $48,000. Fidelis Capital Partners LLC bought a new stake in Vornado Realty Trust during the first quarter valued at $55,000. Principal Securities Inc. purchased a new position in Vornado Realty Trust during the fourth quarter worth about $58,000. EverSource Wealth Advisors LLC increased its stake in Vornado Realty Trust by 61.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,686 shares of the real estate investment trust's stock worth $77,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 valued at $131,000 after acquiring an additional 2,465 shares in the last quarter. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Vornado Realty Trust Trading Up 5.3 %

The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The stock has a market cap of $6.85 billion, a P/E ratio of 239.60 and a beta of 1.65. The stock has a 50-day moving average price of $30.87 and a 200-day moving average price of $27.58.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.37). The company had revenue of $450.27 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, equities research analysts expect that Vornado Realty Trust will post 2.16 EPS for the current year.

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.