Evercore ISI Raises Vornado Realty Trust (NYSE:VNO) Price Target to $31.00

Vornado Realty Trust (NYSE:VNO) had its price objective raised by Evercore ISI from $24.00 to $31.00 in a research note released on Wednesday, Benzinga reports. They currently have an underperform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on VNO. StockNews.com raised shares of Vornado Realty Trust to a sell rating in a research note on Saturday, July 20th. Barclays reduced their price objective on Vornado Realty Trust from $22.00 to $21.00 and set an underweight rating for the company in a research report on Friday, May 24th. Scotiabank dropped their target price on Vornado Realty Trust from $24.00 to $23.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. Compass Point raised 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. Finally, Piper Sandler reduced their price target on Vornado Realty Trust from $25.00 to $22.00 and set an underweight rating for the company in a report on Monday, May 13th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Vornado Realty Trust currently has an average rating of Hold and a consensus target price of $27.20.

Vornado Realty Trust Trading Down 1.7 %

Shares of NYSE VNO opened at $30.99 on Wednesday. The company has a current ratio of 5.21, a quick ratio of 4.97 and a debt-to-equity ratio of 1.78. Vornado Realty Trust has a one year low of $18.36 and a one year high of $32.21. The business has a 50-day moving average price of $27.13 and a two-hundred day moving average price of $26.48. The firm has a market capitalization of $5.90 billion, a PE ratio of 206.60 and a beta of 1.64.

Vornado Realty Trust (NYSE:VNO) last posted its quarterly 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). The company had revenue of $450.27 million during 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%. Vornado Realty Trust’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. As a group, analysts predict that Vornado Realty Trust will post 2.08 earnings per share for the current fiscal year.

Insider Activity at Vornado Realty Trust

In other 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 value of $56,380.00. Following the completion of the sale, the director now directly owns 3,034 shares in the company, valued at $85,528.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Vornado Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Vornado Realty Trust during the 4th quarter worth about $40,000. Fidelis Capital Partners LLC bought a new position in Vornado Realty Trust in the 1st quarter worth approximately $55,000. Principal Securities Inc. acquired a new position in shares of Vornado Realty Trust during the fourth quarter worth approximately $58,000. EverSource Wealth Advisors LLC boosted its position in shares of Vornado Realty Trust by 61.0% in 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 acquiring an additional 1,018 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Vornado Realty Trust in the fourth quarter worth $116,000. 90.02% of the stock is owned by institutional investors and hedge funds.

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.