Vornado Realty Trust (NYSE:VNO) Given New $45.00 Price Target at Evercore ISI

Vornado Realty Trust (NYSE:VNO) had its price target boosted by investment analysts at Evercore ISI from $40.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Evercore ISI’s price target indicates a potential upside of 6.16% from the stock’s current price.

VNO has been the subject of a number of other research reports. Truist Financial boosted their price objective on Vornado Realty Trust from $26.00 to $31.00 and gave the company a “hold” rating in a report on Tuesday, August 27th. BMO Capital Markets upgraded Vornado Realty Trust from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $29.00 to $40.00 in a research note on Thursday, August 8th. Piper Sandler reiterated a “neutral” rating and issued a $44.00 price target (up from $30.00) on shares of Vornado Realty Trust in a research note on Friday, October 18th. StockNews.com raised Vornado Realty Trust to a “sell” rating in a report on Saturday, July 20th. Finally, Scotiabank raised their target price on Vornado Realty Trust from $33.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Vornado Realty Trust currently has a consensus rating of “Hold” and an average target price of $33.34.

Vornado Realty Trust Stock Performance

NYSE:VNO traded down $0.36 on Wednesday, hitting $42.39. The stock had a trading volume of 1,348,483 shares, compared to its average volume of 2,026,008. The stock has a market cap of $8.07 billion, a price-to-earnings ratio of -146.17 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. The business’s 50-day simple moving average is $38.90 and its two-hundred day simple moving average is $31.31. Vornado Realty Trust has a 52-week low of $19.63 and a 52-week high of $44.05.

Vornado Realty Trust (NYSE:VNO) last issued its earnings results on Monday, November 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.61). The business had revenue of $443.26 million for the quarter, compared to the consensus estimate of $445.07 million. Vornado Realty Trust had a net margin of 0.46% and a return on equity of 1.69%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. As a group, research analysts predict that Vornado Realty Trust will post 2.16 earnings per share for the current year.

Institutional Trading of Vornado Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Vornado Realty Trust by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,196,145 shares of the real estate investment trust’s stock worth $178,264,000 after purchasing an additional 44,147 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Vornado Realty Trust by 428.3% in the 3rd quarter. Principal Financial Group Inc. now owns 2,820,958 shares of the real estate investment trust’s stock worth $111,146,000 after acquiring an additional 2,286,997 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in shares of Vornado Realty Trust by 45.0% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,973,190 shares of the real estate investment trust’s stock worth $51,875,000 after acquiring an additional 612,765 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Vornado Realty Trust by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,543,096 shares of the real estate investment trust’s stock worth $40,568,000 after acquiring an additional 24,322 shares during the period. Finally, Castle Hook Partners LP grew its holdings in shares of Vornado Realty Trust by 66.9% in the 1st quarter. Castle Hook Partners LP now owns 926,962 shares of the real estate investment trust’s stock worth $26,669,000 after acquiring an additional 371,517 shares during the period. 90.02% of the stock is owned by hedge funds and other institutional investors.

About Vornado Realty Trust

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