Vornado Realty Trust (NYSE:VNO) Price Target Raised to $39.00 at Evercore ISI

Vornado Realty Trust (NYSE:VNO - Free Report) had its price objective lifted by Evercore ISI from $38.00 to $39.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the real estate investment trust's stock.

VNO has been the topic of a number of other research reports. Piper Sandler raised shares of Vornado Realty Trust from an underweight rating to a neutral rating and increased their price objective for the stock from $22.00 to $30.00 in a research report on Thursday, August 8th. Truist Financial increased their price objective on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the stock a hold rating in a research report on Tuesday. BMO Capital Markets raised shares of Vornado Realty Trust from a market perform rating to an outperform rating and increased their price objective for the stock from $29.00 to $40.00 in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on Vornado Realty Trust from $19.00 to $21.50 and gave the company a sell rating in a research note on Tuesday. Finally, Scotiabank cut their price target on Vornado Realty Trust from $24.00 to $23.00 and set a sector perform rating for the company in a research note on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Vornado Realty Trust has a consensus rating of Hold and a consensus price target of $29.32.

Vornado Realty Trust Trading Down 0.5 %

VNO traded down $0.17 during trading on Wednesday, reaching $34.03. 1,590,426 shares of the stock traded hands, compared to its average volume of 2,769,342. 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 capitalization of $6.48 billion, a PE ratio of 226.88 and a beta of 1.64. The stock's 50-day moving average is $29.10 and its 200 day moving average is $26.96. Vornado Realty Trust has a 12 month low of $18.36 and a 12 month high of $35.26.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released its quarterly earnings data 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 company had revenue of $450.27 million for 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 for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Equities analysts anticipate that Vornado Realty Trust will post 2.13 earnings per share for the current year.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the business's stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $28.19, for a total transaction of $56,380.00. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 8.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ariadne Wealth Management LP purchased a new position in Vornado Realty Trust in the second quarter worth $220,000. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $131,000 after buying an additional 2,465 shares during the period. Duff & Phelps Investment Management Co. boosted its position in Vornado Realty Trust by 45.0% during the second quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust's stock valued at $51,875,000 after buying an additional 612,765 shares during the period. APG Asset Management US Inc. purchased a new stake in Vornado Realty Trust during the second quarter valued at about $4,462,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vornado Realty Trust during the second quarter valued at about $48,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

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.