Vornado Realty Trust (NYSE:VNO) Sets New 52-Week High Following Analyst Upgrade

Posted by Scott Moore on Nov 6th, 2024

Vornado Realty Trust (NYSE:VNO – Get Free Report) reached a new 52-week high during trading on Wednesday after Compass Point raised their price target on the stock from $32.00 to $40.00. Compass Point currently has a neutral rating on the stock. Vornado Realty Trust traded as high as $44.07 and last traded at $43.14, with a volume of 360451 shares traded. The stock had previously closed at $42.75.

Several other analysts also recently weighed in on VNO. BMO Capital Markets raised shares of Vornado Realty Trust from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $29.00 to $40.00 in a research report on Thursday, August 8th. Truist Financial upped their price objective 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. Barclays upped their price objective on shares of Vornado Realty Trust from $27.00 to $34.00 and gave the company an “underweight” rating in a report on Monday, October 28th. The Goldman Sachs Group upped their price objective on shares of Vornado Realty Trust from $21.50 to $23.75 and gave the company a “sell” rating in a report on Thursday, September 12th. Finally, Evercore ISI upped their price objective on shares of Vornado Realty Trust from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. Four 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, the company currently has a consensus rating of “Hold” and a consensus price target of $34.07.

Check Out Our Latest Analysis on Vornado Realty Trust

Hedge Funds Weigh In On Vornado Realty Trust

Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its position in Vornado Realty Trust by 5.7% during the first quarter. Sei Investments Co. now owns 469,262 shares of the real estate investment trust’s stock worth $13,501,000 after acquiring an additional 25,374 shares during the period. National Bank of Canada FI raised its position in shares of Vornado Realty Trust by 7.9% in the first quarter. National Bank of Canada FI now owns 917,100 shares of the real estate investment trust’s stock valued at $26,385,000 after buying an additional 67,100 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Vornado Realty Trust in the first quarter valued at about $12,824,000. Bank of Montreal Can raised its position in shares of Vornado Realty Trust by 2,229.1% in the second quarter. Bank of Montreal Can now owns 855,572 shares of the real estate investment trust’s stock valued at $22,502,000 after buying an additional 818,838 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Vornado Realty Trust by 33.3% in the second quarter. Hsbc Holdings PLC now owns 483,598 shares of the real estate investment trust’s stock valued at $12,553,000 after buying an additional 120,902 shares during the last quarter. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Price Performance

The stock’s 50-day moving average price is $38.90 and its 200 day moving average price is $31.31. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of -147.14 and a beta of 1.64. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt-to-equity ratio of 1.78.

Vornado Realty Trust (NYSE:VNO – Get Free Report) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.61). The business had revenue of $443.26 million during the quarter, compared to analyst estimates of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.69%. Vornado Realty Trust’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. Equities research analysts expect that Vornado Realty Trust will post 2.16 earnings per share for the current fiscal year.