Scotiabank Increases Vornado Realty Trust (NYSE:VNO) Price Target to $33.00

Vornado Realty Trust (NYSE:VNO - Get Free Report) had its price target boosted by equities research analysts at Scotiabank from $23.00 to $33.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's target price suggests a potential downside of 2.02% from the company's previous close.

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 raised their price objective for the stock from $22.00 to $30.00 in a research note on Thursday, August 8th. BMO Capital Markets raised Vornado Realty Trust from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $29.00 to $40.00 in a report on Thursday, August 8th. Truist Financial upped their target price on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a "hold" rating in a report on Tuesday, August 27th. Compass Point upped their price objective on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Finally, Evercore ISI boosted their price target on Vornado Realty Trust from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Vornado Realty Trust currently has an average rating of "Hold" and a consensus target price of $30.23.

Vornado Realty Trust Stock Performance

Shares of VNO stock traded up $0.15 during trading hours on Wednesday, reaching $33.68. 1,464,436 shares of the company traded hands, compared to its average volume of 2,082,759. The company has a market cap of $6.42 billion, a P/E ratio of 224.55 and a beta of 1.65. Vornado Realty Trust has a 12-month low of $18.36 and a 12-month high of $35.26. The firm has a 50-day moving average price of $30.10 and a 200 day moving average price of $27.31. The company has a debt-to-equity ratio of 1.78, a current ratio of 5.21 and a quick ratio of 5.21.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last released 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 business 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 quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. As a group, sell-side analysts predict that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Russell B. Wight, Jr. sold 2,000 shares of the company's stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $28.19, for a total value of $56,380.00. Following the sale, the director now owns 3,034 shares in the company, valued at approximately $85,528.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.14% of the company's stock.

Institutional Investors Weigh In On Vornado Realty Trust

Large investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. increased its position in shares of Vornado Realty Trust by 3.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust's stock valued at $307,000 after purchasing an additional 386 shares during the period. First National Bank Sioux Falls boosted its holdings in shares of Vornado Realty Trust by 3.3% during the first quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust's stock worth $440,000 after purchasing an additional 496 shares during the period. Metis Global Partners LLC lifted its position in Vornado Realty Trust by 5.3% in the 4th quarter. Metis Global Partners LLC now owns 9,886 shares of the real estate investment trust's stock worth $279,000 after buying an additional 499 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Vornado Realty Trust by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 200,756 shares of the real estate investment trust's stock valued at $5,776,000 after buying an additional 527 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Vornado Realty Trust by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust's stock worth $2,921,000 after purchasing an additional 531 shares during the last quarter. 90.02% of the stock is owned by institutional investors and hedge funds.

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.