Vornado Realty Trust (NYSE:VNO) PT Raised to $23.75 at The Goldman Sachs Group

Vornado Realty Trust (NYSE:VNO - Free Report) had its price target raised by The Goldman Sachs Group from $21.50 to $23.75 in a report published on Thursday, Benzinga reports. The firm currently has a sell rating on the real estate investment trust's stock.

A number of other research firms also recently commented on VNO. Piper Sandler upgraded shares of Vornado Realty Trust from an underweight rating to a neutral rating and increased their price objective for the company from $22.00 to $30.00 in a report on Thursday, August 8th. Truist Financial increased their price target on Vornado Realty Trust from $26.00 to $31.00 and gave the company a hold rating in a report on Tuesday, August 27th. Scotiabank boosted their price objective on Vornado Realty Trust from $23.00 to $33.00 and gave the stock a sector perform rating in a research note on Wednesday, September 4th. Compass Point upped their price target on Vornado Realty Trust from $27.00 to $32.00 and gave the stock a neutral rating in a research note on Wednesday, August 7th. Finally, Evercore ISI lifted their price objective on Vornado Realty Trust from $38.00 to $39.00 and gave the company 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 assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Vornado Realty Trust presently has an average rating of Hold and a consensus target price of $30.43.

Vornado Realty Trust Price Performance

VNO traded up $1.81 during trading on Thursday, hitting $35.94. The company's stock had a trading volume of 3,481,519 shares, compared to its average volume of 2,086,983. The firm has a market capitalization of $6.85 billion, a price-to-earnings ratio of 239.60 and a beta of 1.65. Vornado Realty Trust has a twelve month low of $18.36 and a twelve month high of $36.30. The business's fifty day simple moving average is $30.87 and its 200 day simple moving average is $27.58. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 1.78.

Vornado Realty Trust (NYSE:VNO - Get Free Report) last posted its quarterly earnings data 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). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The company had revenue of $450.27 million for the quarter, compared to analyst estimates of $439.28 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business's revenue was down 4.7% on a year-over-year basis. On average, equities research analysts forecast that Vornado Realty Trust will post 2.16 EPS 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 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 completion of the transaction, the director now owns 3,034 shares in the company, valued at $85,528.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.14% of the company's stock.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of VNO. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vornado Realty Trust during the 2nd quarter valued at about $48,000. Fidelis Capital Partners LLC bought a new position in Vornado Realty Trust during the 1st quarter valued at $55,000. Principal Securities Inc. acquired a new position in Vornado Realty Trust during the 4th quarter worth $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 valued at $77,000 after buying an additional 1,018 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position 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 worth $131,000 after acquiring an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company's stock.

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.