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

Vornado Realty Trust (NYSE:VNO) had its price target reduced by stock analysts at Scotiabank from $40.00 to $38.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 9.06% from the company’s previous close.

Several other research analysts have also recently weighed in on VNO. Truist Financial lifted their price target on Vornado Realty Trust from $38.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Piper Sandler dropped their price target on shares of Vornado Realty Trust from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. LADENBURG THALM/SH SH began coverage on shares of Vornado Realty Trust in a research report on Monday, October 13th. They issued a “buy” rating and a $48.00 price objective for the company. Bank of America cut their price target on Vornado Realty Trust from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Monday, August 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Vornado Realty Trust in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.17.

Vornado Realty Trust Stock Performance

VNO stock traded down $0.53 during midday trading on Thursday, reaching $34.84. The stock had a trading volume of 326,630 shares, compared to its average volume of 1,492,996. The firm has a fifty day simple moving average of $39.61 and a two-hundred day simple moving average of $38.79. Vornado Realty Trust has a 52-week low of $29.68 and a 52-week high of $46.52. The company has a debt-to-equity ratio of 1.40, a quick ratio of 6.82 and a current ratio of 6.82. The stock has a market cap of $6.69 billion, a PE ratio of 8.61, a P/E/G ratio of 4.57 and a beta of 1.57.

Vornado Realty Trust (NYSE:VNO) last announced its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Vornado Realty Trust had a return on equity of 19.64% and a net margin of 48.49%.The business had revenue of $453.70 million for the quarter, compared to analyst estimates of $435.19 million. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that Vornado Realty Trust will post 2.31 EPS for the current year.

Insider Buying and Selling at Vornado Realty Trust

In other news, EVP Haim Chera sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $39.64, for a total transaction of $1,189,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vornado Realty Trust

Large investors have recently made changes to their positions in the stock. US Bancorp DE grew its position in Vornado Realty Trust by 1.3% in the 2nd quarter. US Bancorp DE now owns 20,545 shares of the real estate investment trust’s stock valued at $786,000 after acquiring an additional 259 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its holdings in shares of Vornado Realty Trust by 48.0% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,439,438 shares of the real estate investment trust’s stock valued at $55,044,000 after purchasing an additional 466,621 shares in the last quarter. Truist Financial Corp increased its stake in Vornado Realty Trust by 18.8% during the 2nd quarter. Truist Financial Corp now owns 7,677 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 1,214 shares during the period. Acadian Asset Management LLC acquired a new stake in Vornado Realty Trust during the 1st quarter worth approximately $3,341,000. Finally, Victory Capital Management Inc. boosted its position in Vornado Realty Trust by 208.8% in the 1st quarter. Victory Capital Management Inc. now owns 101,054 shares of the real estate investment trust’s stock valued at $3,738,000 after buying an additional 68,324 shares during the period. 90.02% of the stock is currently owned by institutional investors and hedge funds.

Vornado Realty Trust Company Profile

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