Bank of America Boosts Vornado Realty Trust (NYSE:VNO) Price Target to $35.00

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price objective lifted by analysts at Bank of America from $26.00 to $35.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Bank of America's target price suggests a potential upside of 3.09% from the stock's current price.

Several other brokerages also recently issued reports on VNO. StockNews.com raised shares of Vornado Realty Trust to a "sell" rating in a research report on Saturday, July 20th. Piper Sandler raised shares of Vornado Realty Trust from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $22.00 to $30.00 in a research report on Thursday, August 8th. Compass Point raised their target price on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Scotiabank cut their target price on shares of Vornado Realty Trust from $24.00 to $23.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 16th. Finally, Evercore ISI upgraded shares of Vornado Realty Trust from an "underperform" rating to an "outperform" rating and lifted their price objective for the company from $32.00 to $38.00 in a research note on Tuesday. Four analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Vornado Realty Trust currently has a consensus rating of "Hold" and a consensus price target of $29.09.

Vornado Realty Trust Stock Performance

NYSE VNO traded down $0.59 during midday trading on Thursday, hitting $33.95. The company had a trading volume of 2,770,662 shares, compared to its average volume of 2,070,569. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 226.35 and a beta of 1.64. The firm has a fifty day simple moving average of $28.58 and a two-hundred day simple moving average of $26.77. Vornado Realty Trust has a fifty-two week low of $18.36 and a fifty-two week high of $35.05.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.37). Vornado Realty Trust had a net margin of 4.51% and a return on equity of 3.21%. The business had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same quarter last year, the firm posted $0.72 earnings per share. Vornado Realty Trust's revenue was down 4.7% on a year-over-year basis. Equities analysts forecast that Vornado Realty Trust will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Vornado Realty Trust

In related news, Director Russell B. Wight, Jr. sold 2,000 shares of the company's stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at approximately $85,528.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Vornado Realty Trust

A number of large investors have recently modified their holdings of VNO. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vornado Realty Trust during the 2nd quarter worth about $48,000. Fidelis Capital Partners LLC purchased a new position in shares of Vornado Realty Trust in the first quarter worth about $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 raised its stake in Vornado Realty Trust by 61.0% during 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, GAMMA Investing LLC acquired a new stake in shares of Vornado Realty Trust during the fourth quarter valued at about $116,000. Hedge funds and other institutional investors own 90.02% of the company's stock.

Vornado Realty Trust Company Profile

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.