Scotiabank Raises Vornado Realty Trust (NYSE:VNO) Price Target to $38.00

Vornado Realty Trust (NYSE:VNO) had its price target boosted by Scotiabank from $33.00 to $38.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential downside of 12.70% from the company’s current price.

Several other equities analysts also recently weighed in on VNO. Evercore ISI raised their target price on Vornado Realty Trust from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Compass Point raised their price objective on Vornado Realty Trust from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the stock a “sell” rating in a research note on Thursday, September 12th. StockNews.com upgraded shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Finally, Barclays raised their price target on shares of Vornado Realty Trust from $21.00 to $27.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Vornado Realty Trust presently has a consensus rating of “Hold” and an average target price of $32.16.

Vornado Realty Trust Price Performance

Vornado Realty Trust stock traded down $0.26 during trading on Friday, reaching $43.53. The company had a trading volume of 103,219 shares, compared to its average volume of 2,043,953. The company has a debt-to-equity ratio of 1.78, a quick ratio of 5.21 and a current ratio of 5.21. The firm’s 50-day simple moving average is $37.52 and its 200 day simple moving average is $30.41. The firm has a market capitalization of $8.29 billion, a PE ratio of 483.67 and a beta of 1.65. Vornado Realty Trust has a 1-year low of $18.36 and a 1-year high of $44.00.

Vornado Realty Trust (NYSE:VNO) 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 company had revenue of $450.27 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 4.7% on a year-over-year basis. During the same period 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 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vornado Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VNO. Park Avenue Securities LLC grew its holdings in shares of Vornado Realty Trust by 5.8% during the 1st quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock worth $289,000 after purchasing an additional 553 shares during the period. State of Michigan Retirement System boosted its stake in Vornado Realty Trust by 2.3% during the first quarter. State of Michigan Retirement System now owns 39,300 shares of the real estate investment trust’s stock worth $1,131,000 after buying an additional 900 shares during the period. State of Alaska Department of Revenue increased its position in shares of Vornado Realty Trust by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 101,565 shares of the real estate investment trust’s stock valued at $2,921,000 after acquiring an additional 531 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Vornado Realty Trust by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 603,381 shares of the real estate investment trust’s stock valued at $17,359,000 after acquiring an additional 15,345 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Vornado Realty Trust by 3.3% in the 1st quarter. Van ECK Associates Corp now owns 72,335 shares of the real estate investment trust’s stock worth $2,081,000 after acquiring an additional 2,311 shares during the last quarter. Institutional investors and hedge funds own 90.02% of the company’s stock.

Vornado Realty Trust Company Profile

Vornado Realty Trust is a fully – integrated equity real estate investment trust.