Vornado Realty Trust (NYSE:VNO) Sets New 52-Week High at $38.09

Vornado Realty Trust (NYSE:VNO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $38.09 and last traded at $38.00, with a volume of 51757 shares trading hands. The stock had previously closed at $37.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VNO shares. Truist Financial boosted their target price on shares of Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. StockNews.com raised shares of Vornado Realty Trust to a “sell” rating in a research report on Saturday, July 20th. Compass Point upped their price objective on shares of Vornado Realty Trust from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Bank of America increased their target price on shares of Vornado Realty Trust from $26.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Finally, Evercore ISI increased their target price on shares of Vornado Realty Trust from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Four 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.43.

Vornado Realty Trust Price Performance

The company has a 50 day moving average price of $31.72 and a 200-day moving average price of $27.91. 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 company has a market cap of $7.26 billion, a price-to-earnings ratio of 253.62 and a beta of 1.65.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results 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). Vornado Realty Trust had a return on equity of 3.21% and a net margin of 4.51%. The firm had revenue of $450.27 million during the quarter, compared to the consensus estimate of $439.28 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. Vornado Realty Trust’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts predict that Vornado Realty Trust will post 2.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Vornado Realty Trust news, Director Russell B. Wight, Jr. sold 2,000 shares of the firm’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $28.19, for a total transaction of $56,380.00. Following the transaction, the director now directly 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 available through this hyperlink. 8.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vornado Realty Trust

Several large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its holdings in Vornado Realty Trust by 3.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,660 shares of the real estate investment trust’s stock worth $307,000 after acquiring an additional 386 shares during the last quarter. First National Bank Sioux Falls increased its holdings in Vornado Realty Trust by 3.3% in the 1st quarter. First National Bank Sioux Falls now owns 15,311 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 496 shares during the last quarter. Retirement Systems of Alabama increased its holdings in 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 worth $5,776,000 after acquiring an additional 527 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Vornado Realty Trust by 0.5% in 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 acquiring an additional 531 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in Vornado Realty Trust by 5.8% in the 1st quarter. Park Avenue Securities LLC now owns 10,036 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 553 shares during the last quarter. 90.02% of the stock is owned by hedge funds and other institutional investors.

Vornado Realty Trust Company Profile

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.