Vornado Realty Trust (NYSE:VNO) Hits New 12-Month High - Should You Buy?

Vornado Realty Trust (NYSE:VNO - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $40.92 and last traded at $40.78, with a volume of 49134 shares traded. The stock had previously closed at $40.05.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VNO shares. StockNews.com raised shares of Vornado Realty Trust to a "sell" rating in a research report on Saturday, July 20th. Truist Financial lifted their target price on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the stock a "hold" rating in a report on Tuesday, August 27th. BMO Capital Markets upgraded shares of Vornado Realty Trust from a "market perform" rating to an "outperform" rating and upped their price target for the company from $29.00 to $40.00 in a report on Thursday, August 8th. Scotiabank raised their price target on Vornado Realty Trust from $23.00 to $33.00 and gave the company a "sector perform" rating in a research report on Wednesday, September 4th. Finally, Compass Point boosted their price objective on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Four equities 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's stock. Based on data from MarketBeat, Vornado Realty Trust has an average rating of "Hold" and a consensus target price of $30.43.

Vornado Realty Trust Price Performance

The company has a market cap of $7.79 billion, a price-to-earnings ratio of 457.00 and a beta of 1.65. 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 company has a fifty day moving average price of $35.65 and a two-hundred day moving average price of $29.61.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share 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 return on equity of 3.21% and a net margin of 4.51%. The firm's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. As a group, equities research analysts anticipate that Vornado Realty Trust will post 2.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vornado Realty Trust during the second quarter valued at $48,000. Fidelis Capital Partners LLC bought a new position in Vornado Realty Trust during the 1st quarter valued at about $55,000. EverSource Wealth Advisors LLC boosted its position in 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 valued at $77,000 after buying an additional 1,018 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Vornado Realty Trust by 98.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,972 shares of the real estate investment trust's stock worth $131,000 after buying an additional 2,465 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Vornado Realty Trust by 17.6% during the first quarter. GAMMA Investing LLC now owns 5,000 shares of the real estate investment trust's stock worth $144,000 after buying an additional 750 shares in the last quarter. 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.